Consent-Based Identity Wallet and Open Banking Dashboard: A Framework for Streamlining KYC and Enhancing Regulatory Compliance in African Fintech Ecosystems

Project Proposal: Consent-Based Identity Wallet and Open Banking Dashboard: A Framework for Streamlining KYC and Enhancing Regulatory Compliance in African Fintech Ecosystems This paper proposes a dual-component framework a Consent-Based Identity Wallet for users and an Open Banking Dashboard for institutions to address inefficiencies in Know Your Customer (KYC) processes within Africa’s fintech sector. By enabling secure, consent-driven data sharing with audit trails, the solution reduces onboarding times, lowers compliance costs, and improves regulatory oversight. Drawing on literature in digital identity and open banking, the methodology outlines phased development from cloud-based storage to block chain integration. Expected outcomes include 50–70% faster onboarding and enhanced data privacy, positioning the framework for pilot deployment in Nigeria and broader African markets Contact Information Email: [email protected] Phone: +234 706 688 8006 Founder & Project Lead: Norena Abel