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Questions about Okra

What is Okra?

Okra is Africa’s Open Finance API. We help businesses automate certain processes that boost their business operations. We also enable customers to connect their bank accounts directly to applications and services they require using their internet or mobile banking credentials; this makes onboarding a faster and safer experience.

How does Okra work?

Once you implement Okra, your users will be able to connect their bank accounts to your app in just seconds. After which, you can retrieve financial information about that user.

To create this connection, your users need to share their online credentials with Okra. We encrypt these credentials as we receive them and only use them to access the account in read-only mode.

Once the link is created between your app and your user's institution account, you can pull financial data. This includes the accounts in their name, the real-time balance, transaction information, etc.

What financial institutions are supported by Okra's API?

Okra is connected to every bank in Nigeria with several connection methods to choose from. The list of financial institutions we support can be found here.

What countries does Okra operate in?

Okra is currently only fully operational in Nigeria. We are currently in beta in Kenya and South Africa. Look out for announcements on our expansion on our blog.

Does Okra give out loans?

Okra is not a lender and we are not in the business of giving out loans. We create APIs for companies in the lending sector requiring our services to enhance their lending business.

Does Okra guarantee that clients will pay back their loans?

No. Okra is not a third party between borrowers and lenders.

Okra only provides a platform for the lending companies to garnish their clients using our APIs when they default.

Is Okra a payment gateway?

No. We integrate with other payment gateways, such as Paystack and Flutterwave to make the payment processes more efficient.

Is Okra for individuals or businesses?

Okra is for both businesses and individuals. Registered businesses get access to Okra APIs.
Individuals via consents can link their accounts to apps, whose company uses Okra API

Is there a cost/fee for sending money from Okra wallet to a bank account?

We charge the NIP fee as follows :

  • N10.75 for an amount that is < 5000,
  • N26.88 for an amount that is >= 5000,
  • N53.75 for an amount that is <= 50000

Does Okra only work for users with Internet Banking?

No, consumers can use Okra, across these various platforms;

  • Internet Banking
  • Mobile Banking
  • USSD(beta)

Why can’t I find my financial institution when attempting to connect it to an app?

There are a number of reasons why you may not be able to find your institution on the search screen:

  • The institution hasn't been integrated yet. Send us a ticket to let us know which institutions you need the most so we can prioritize
  • The institution hasn't been fully integrated. For example, one method like internet banking authentication is complete, but USSD is not.

When Okra retrieves my financial data, who has access to it?

If you have used Okra to facilitate a connection between your financial accounts and an app, then we will share your financial data with that app. The types of data that Okra shares with your apps depend on the particular connections you’ve established, the specific Okra services used to power your connected apps, and the information made available by your financial institution. We do not share your data with any app without your consent and do not sell or rent the personal information we collect.

Do I need to revalidate my account again if I was coming from their customer?

No, you don’t. For that, we have a feature known as the returning user experience.
The Returning user experience simplifies linking financial information for users who have already connected a financial account with Okra in the past.

What data does Okra retrieve from my financial institution?

When you connect your accounts to your apps, we get information from your financial institution with your permission. Okra does not have access to your financial information unless you give them permission to do so.

The data that Okra accesses and shares with your apps is determined by the connections you've made, the Okra services you've chosen to power your connected apps, and the information provided by your financial institution. Identity, transactions, income verification, account balance, etc.

For more information about the types of financial data Okra accesses, please see Privacy Policy and our End User Privacy Policy.

If you have any questions about the data Okra accesses, please feel free to reach out to us at [email protected].

Technical FAQs

1. Which of the API Keys should I use

If you are in the sandbox, you have to use the keys under the sandbox section. 

Learn more about API keys.

2. Can I get an account and credentials to test my integration in the sandbox

Yes, you have to create a sandbox user first. You can find details of how to here. 

The created sandbox user will have a username, password, and bank that can be used to test in the sandbox. You can also find more credentials [here](https://docs.okra.ng/docs/creating-sandbox-customers#test-credentials)

3. Can I get an account to test my integration into production

You can test in production using real credentials. The same ones you use with your banking app.

4. How do I know if an account linking was successful

We send webhooks after a successful linking. You can learn more about webhooks [here](https://docs.okra.ng/docs/webhook-overview).

5. How do I remove a particular bank from the list of banks

If you are using the app builder, during the process, you can remove an institution. You could also use the filter options to remove a particular bank. See more options [here](https://docs.okra.ng/docs/widget-properties)

6. Do users need to relink their account for me to get recent data

You can use the refresh transactions and balance respectively for non-MFA banks, to get new transactions and balance data programmatically through the API, without having the user re-link their account.

Learn more about this [here](https://docs.okra.ng/docs/transactions).

7. Why is a bank missing from the list of banks on the widget

This could be because we currently don’t support the bank. You can find the full list of banks we support [here](https://docs.okra.ng/docs/bank-coverage). Another reason could be that you have chosen a product that is currently not enabled for that bank.

8. I did not get a webhook notification

You can retrigger webhooks. Find more details [here](https://docs.okra.ng/docs/webhook-overview#webhook-trigger)

9. As an end-user or client, how can I remove a connected account

As an end user, you can unlink an account using my.okra.ng, as a client you can remove a connected account via an API.