Kenya drafts open banking bill for licensed fintech data access

Sponsored content: Kenya's Central Bank has released a draft National Payment System Bill, 2026, that would require banks and mobile money providers to share customer data with licensed third parties after customer consent, enabling open banking. The bill creates two new categories—payment initiation service providers, which can execute payments on behalf of customers, and account information service providers, which can consolidate data across accounts—neither of which needs to hold customer funds. Electronic money issuers must keep customer money in trust accounts at banks. The Central Bank of Kenya may mandate data sharing once consent is given and will issue detailed regulations on what data can be accessed, under what conditions, and at what cost. If passed, providers have one year to comply. The bill also pushes for interoperability, urging systems compatible with competitors'. The article includes a note about the Moonshot 2026 conference offering a 20% discount on Early Bird tickets.

SOURCE: https://techcabal.com/2026/09/22/kenya-proposes-forcing-banks-to-share-customer-data/