Lateral Thinking: Open Banking Nigeria — Interview

An interview with Lateral Frontiers VC about open banking in Nigeria.

1. What are the objectives of your organization and who are the main stakeholders?

The key objectives are to use advocacy to advance open APIs within the Nigerian financial ecosystem in order to help fintechs and banks solve the challenges of financial inclusion and reduce barriers to financial innovations.

2. What does open banking mean to you? How does that differ to open finance?

Open banking is the application of open APIs, as a standard and as a regulation, targeting the banking financial subsector. Open finance, on the other hand, takes the concept of open APIs to the broader financial sectors.

Read the full interview on Medium: