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Central Bank of Kenya releases plan to implement Open Banking Wednesday 13 January 2021 13:09 CET | News
The Central Bank of Kenya (CBK) has released a draft document outlining a five-year digitalisation plan to modernise the country’s domestic payment landscape, according to fintechnews.ae.
The document, titled Kenya National Payments System Vision and Strategy 2021 – 2025 and released in December 2020, stresses the regulator’s commitment to establishing a regulatory landscape that’s conducive to innovation, as well as embracing Open Banking and APIs, among other key areas of focus. In the document, the CBK says it will work to define standards for API development and mandate data portability with hopes that more options and innovative solutions will be made available for Kenya-based users to choose from.