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Data protection law gets Kenya ready for open banking

Kenya Bankers Association chief executive Habil Olaka (left) and Central Bank of Kenya Governor Patrick Njoroge during a banking safety awareness campaign launch in Nairobi in May 2019. PHOTO | DIANA NGILA

According to Imran Gulamhuseinwala, an implementation trustee for Open Banking Limited in the UK, “Open Banking really does feel like the best kept secret in the financial services”.

That may seem somewhat counter intuitive since the very thing that is good about it is openness, and that is conceptually diametrically opposite to secrecy. Yet, it may indeed still feel like a secret, since one may wonder why there isn’t as yet, a greater clamour for it.

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