Open banking to transform East Africa’s digital financial services

Fred Standard: Kimberly Macsymon, Chief Marketing Officer and Willie Kanyeki, Business Development Manager Myriad Connect demonstrate how the security solution on mobile transaction service works during the launch of out of band authentication and SIM swap detection services to protect customers’ financial transactions from fraud. [PHOTO: COURTESY]

NAIROBI, KENYA: Open banking is revolutionising the financial services landscape across the world and presents opportunities for transformation and financial inclusion throughout East Africa.

However, the region should learn from the experiences of other markets and leapfrog directly to the next era of open banking, says International mobile technology specialist at Myriad Connect.