By Nume Ekeghe
CRC Credit Bureau Limited recently hosted a webinar to educate individuals and businesses on open banking.
The Managing Director/CEO of CRC Credit Bureau Limited, Dr. ’Tunde Popoola, in a statement said the webinar with the theme: ‘Open Banking: Implications for Payments System and Access to Credit,’ was an important discuss to understand its connection to data management and financial inclusion.
Popoola stated: “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 mobilisation and payments system is also democratised.
“It is therefore not strange that today, we are discussing Open Banking and as a player in the data management sector of the Nigerian economy, we were encouraged to organize this webinar to discuss this.”
“CRC Credit Bureau is the largest Credit Bureau in Nigeria and provides a nationwide repository on credit profiles of corporate entities as well as consumers, thus improving the ability of credit providers and borrowers to make informed lending and borrowing decisions.”
The keynote speaker, Mr. Musa I. Jimoh, who is the Director Payments System Management Department, was represented by Mr. Olubukola Akinwunmi, an Assistant Director, Payment Systems Management Department of the Central Bank of Nigeria (CBN). He provided an overview of the regulatory framework of the policy.
He further listed benefits of open banking.
At the event, an interactive session was moderated by the Managing Director/CEO of CRC Credit Bureau Limited, Dr. ’Tunde Popoola, enabled participants ask questions about the role credit bureaus play in making access to data provided by open banking available to both consumers and the business community.
According to Popoola “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 mobilisation and payments system is also democratised.
“It is therefore not strange that today, we are discussing open banking and as a player in the data management sector of the Nigerian economy, we were encouraged to organise this web,” he added.
