First Bank restates commitment to open banking

04 Oct First Bank restates commitment to open banking

First Bank of Nigeria Limited has restated its commitment to the development of open banking with its upcoming annual Fintech Summit on October 7.

It said that the summit which is the fifth in its series is themed ‘Open banking and its derivative opportunities for the financial ecosystem’, and would be discussed by experts, policy influencers, regulatory officials as well as key and leading players in the Nigerian financial, banking and technology climate.

It stated that the Lead Faculty of Tekedia Institute with a PhD in engineering from John Hopkins University, USA, Prof Ndubuisi Ekekwe, would be leading the discussion as the keynote speaker.

Other panelists, it added were Director at Strategy &, a part of the PwC network, based out of Mexico, Ankit Sharma; Chief Executive Officer, (Chief Plumber) at One Pipe, Ope Adeoye; Executive Director, Technology & Operations at Nigeria Inter-Bank Settlement System Plc, Aminu Maida; Deputy Director, Payment Systems, CBN, Musa Jimoh; and Head, Corporate Transformation, FirstBank, Olayinka Situ.

The bank’s  statement said, “The need for open banking in Nigeria cannot be overemphasised as the importance goes beyond just convenience to its game-changing impact in transforming value creation, product conceptualisation and closing the financially excluded gap.

“Through standardised and accessible open API technologies, innovators and product developers alike are now availed a wealth of big data and attendant insights, with the potential to completely redefine standards for product conceptualisation, customer satisfaction and service delivery across Africa’s largest economy.”