Sterling Bank has launched a new Product PayOn http://sterling.ng/payon/
It is a new reality as banks compete with or acquire fintechs relevant to their needs, which will improve the overall industry. Another example is how banks around the world are building their own APIs to fight fintechs like plaid, okra etc, who they claim are using a process known as scraping to access consumer data to validate transactions. The argument is that these customers don’t know how their data is been collected and used, that’s why plaid recently released ‘plaid exchange’ to help small banks cope with this new normal as the cost for banks to own their APIs may be more than $10m per year. The last thing we need is an ecosystem where wall street banks hold an API network different from main street banks; the bottom line is that banks are fighting back, and it’s good for consumers.
It beats me the website was built using a CMS . The on-boarding , not impressive at all.