A fintech platform that provides API access to bank data, simplifying integrations for other fintechs.
How open banking will change how fintechs manage API integrations with banks
Accessing bank data in Nigeria was previously complex and often relied on personal relationships. Fintechs used insecure methods like screen scraping to gather user data, raising security concerns.
Mastercard opens Ghana office after three years of building partnerships
Mastercard opened its first office in Accra, Ghana, signaling its commitment to the West African region. Ghana's GDP per capita is higher than Nigeria's, indicating a growing economy.
Mastercard’s direct bank payment with Mono may boost the Nigerian startup in its race to profitability
Mastercard partners with Mono to enable payments directly into bank accounts without cards or USSD codes. Mono expects to achieve profitability by scaling the adoption of its open finance tools.
Open banking can change Nigeria’s financial industry. Why is the CBN stalling on it?
Nigeria became the first African country to adopt open banking last year. Open banking can improve lending by providing fintechs with data to assess creditworthiness and create credit scores for Nigerians.
Japan’s SBI Holdings commits $40M to anchor Novastar Ventures’ future funds
SBI Holdings makes a $40 million commitment to Novastar Ventures. SBI Holdings will take a minority stake in Novastar and get a non-executive seat on its board.
