NDPC Collaborates with Gates Foundation and KPMG on Open Banking Frameworks

NDPC Collaborates with Gates Foundation and KPMG on Open Banking Frameworks

The Nigeria Data Protection Commission (NDPC), in collaboration with the Bill & Melinda Gates Foundation and KPMG, is spearheading the development of open banking frameworks to enhance financial inclusion in the country.

Read Also: Nigeria Data Protection Commission (NDPC) Examines Alleged Data Breach by GTB and Zenith Bank

Dr. Vincent Olatunji, the national commissioner of the NDPC, hosted Anna Wallace, Senior Programme Officer for Regulatory and Consumer Protection Technologies at the Bill & Melinda Gates Foundation, and John Anyanwu, KPMG Head of Cybersecurity and Privacy, in Abuja to discuss this initiative.

According to a statement released by the commission on X (formerly Twitter), the meeting aimed to explore open banking frameworks for Nigeria, a project led by the Gates Foundation.

Open banking entails granting third-party financial service providers access to bank account information, transaction data, and other financial data through application programming interfaces (APIs).

Read Also: NDPC Advocates for Data Protection Compliance in Environment Ministry

The meeting marked a significant milestone in recognizing NDPC’s pivotal role in the project and formalizing engagement to ensure comprehensive input, particularly in the areas of data protection and privacy.

NDPC underscored the critical importance of digital identity in the financial sector and open banking, emphasizing the need for robust measures to safeguard digital identities and foster trust and confidence among users.

Dr. Olatunji also addressed challenges posed by digital lending companies regarding transparency in data processing activities, noting that the Commission is actively collaborating with other stakeholders to address these challenges.

He highlighted the misconception among some banks regarding the roles of a Chief Information Security Officer and a Data Protection Officer, stressing the legal requirement for all data controllers to have a Data Protection Officer in place.

Read Also: NDPC Forms Strategic Partnerships, Signs MoU with NLRC and SMEDAN

Below is how we can help you promote your event, organization and products/services . This is the best you can get from this global platform of over decades experience.

First Leg: Full page Promotional package showcasing your Invitation Card, Banner/Flex, 3 different Photographs and brief of the coming event. Also your picture/Name will be the headline News in digivation blog(Pre-Event)

Second Leg: Full Page Promotional package of the event showcasing 5 different photographs plus short audio/visual clip of the event. Also org. picture/Name will be the headline news our blog(Post-Event).

Rate: N150,000 Only For Both Pre and Post Events. (Rate is only Applicable during the Promotional Period)

For further inquiries, contact the undersigned:

Hilary Damissah (Editor)

Mojisola Alabi ( business Development)

Email: digivationtv@gmail.com

Chief Imo Ukwa(Advert Consultant) 08063779938

Leave a Reply

Your email address will not be published. Required fields are marked *

Next Post

CBN Halts Charges on Cash Deposits in Banks

Wed May 8 , 2024
The Central Bank of Nigeria (CBN) has instructed banks to cease charging customers for cash deposits until September 30, 2024. Concerns were raised by customers of some Deposit Money Banks regarding the imposition of processing fees for cash deposits starting May 1. These banks had planned to levy two percent […]

You May Like