Credit bureau creates awareness on open banking
CRC Credit Bureau has created awareness on relevance of open banking.
The Managing Director/Chief Executive Officer, CRC, Credit Bureau Limited, Dr. Tunde Popoola, spoke in a statement titled, “CRC Credit Bureau drives conversation in open banking”.
It stated that it hosted an online webinar themed, Open Banking: Implications for payment system and access to credit”.
He said, “For us at CRC, we identified the direction of information dissemination and availability among players in the economy and our products and services are driven by data.
“We represent one side of the financial intermediation equation by holding and disseminating data on credit activities. It is complete when access to information on the deposit mobilization and payments system is also democratized.
“It is therefore not strange that today, we are discussing open banking as a player in the data management sector of the Nigerian economy, we are encouraged to organize this webinar to discuss this”.
The Keynote Speaker, Director Payments System Management Department, Central Bank of Nigeria, Mr. Musa Jimoh, explained the benefits of open banking, the sharing and leveraging of customer data with customer permission by banks and third party firms to build applications and services.
Jimoh was represented by the Assistant Director Payment Systems Management Department, CBN, Mr. Olubukola Akinwunmi, said this would in turn provide an opportunity for growth, product offerings ad greater financial transparency for account holders and competition in the financial services sector.
