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No Open Banking

An Indian Ocean archipelago with a high proportion of banked individuals.

79% of people in Seychelles were using the internet in 2022, with a mobile connection level vastly excessive of population numbers (many people use more than one phone). 

The Central Bank of Seychelles states that they have the highest level of banked population in Sub-Saharan Africa at 94%. The Central Bank is therefore prioritising financial education to improve the usage of financial services over increasing access. The Financial Consumer Protection Act (FCPA) of 2022  outlines the need for the protection of non-public consumer data. In 2019, the State Bank of Mauritius opened in the Seychelles, with the intention of introducing digital banking services, including e-wallets, to the country.