Technology December 15, 2020

FINTRAK SOFTWARE WINS “THE FINTECH COMPANY OF THE YEAR” AT NIGERIAN BUSINESS LEADERSHIP AWARDS

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FinTrak Software, a global Financial Technology (FinTech) organization based in Lagos, providing innovative technology and business solutions to financial institutions and enterprises across continents was recently recognized as The Fintech Company of The Year 2020 at the Nigerian Business Leadership Awards (NBLA) held at the Lagos Continental Hotel, Victoria Island. The event brought together captains of industries from various sectors of the economy.

Winning in the category of Fintech Company of The Year. The award was a recognition of Fintrak’s strides in the financial ecosystem, deploying indigenous information technology (IT) solutions to banks and insurance firms in the country. Fintrak has significantly contributed and improved the way financial players do business by deploying enterprise software complaint with world-class standards especially the International Financial Reporting Standards (IFRS). Core systems offered by FinTrak Software include Core Banking System, Channels and Enterprise Resource Planning (ERP).

Speaking at the award, Bimbo Abioye, the Group Managing Director said “We very much appreciate the organizers of the event (Business Day Newspapers) for the award. About 14 years ago, when we started, we reviewed foreign software that were already making waves in the country then for possibility of a partnership arrangement, but we found out that they really do not meet appreciably the needs of the Nigerian business environments. We decided to provide a solution by developing software that meet global standards and also meet local business needs and regulatory requirements.”

He added” Though Nigerians are naturally inclined to anything foreign inclusive of software, but as time goes on, we have been able to gain tremendous acceptance and also favorably competing with foreign options and has successfully deployed where other options have failed. We thank the organizers of this award for this recognition and dedicate it to our workforce that made it happen”

FinTrak Software has business offices in Nigeria, Ghana and Gambia. Over 130 staff inclusive of 100 Software Engineers based in Nigeria. The core management of the firm have competencies across banking, finance, audit, consulting, and software development. FinTrak Software has as it’s core mission to be the world’s No. 1 Enterprise Solution Providers.

“We very much appreciate the organizers of the event (Business Day Newspapers) for the award. About 14 years ago, when we started, we reviewed foreign software that were already making waves in the country then for possibility of a partnership arrangement, but we found out that they really do not meet appreciably the needs of the Nigerian business environments. We decided to provide a solution by developing software that meet global standards and also meet local business needs and regulatory requirements.”

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Sanâa Kiadi Reflects on Participation in IOM Workshop on Migration Data in Rabat, Morocco

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Sanâa Kiadi, a distinguished Global Strategist and International Executive, recently had the honor of representing the African Migration Observatory (AMO) at the Sub-Regional Workshop on Migration Data and Research, which took place on October 16th and 17th in Rabat, Morocco. This significant event was organized by the International Organization for Migration (IOM) in collaboration with the Government of Morocco, bringing together key stakeholders dedicated to advancing the understanding of migration dynamics in the region.

During her participation, Kiadi presented AMO’s mission, which is focused on enhancing migration data collection and analysis across Africa. Her presentation underscored the importance of establishing robust data systems that inform evidence-based migration policies. “Accurate and comprehensive migration data is essential for shaping policies that address…

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Rivers State Governor Sim Fubara Shuts Down NNPC and Oil Companies, Proclaims “No Allocation for Rivers State, No Oil for Nigeria”

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In a bold and unprecedented move, Rivers State Governor Sim Fubara has ordered the shutdown of the Nigerian National Petroleum Corporation (NNPC) and all oil companies operating in the state. His declaration, “No allocation for Rivers State, no oil for Nigeria,” reflects a deep frustration over what he perceives as the unfair distribution of oil revenues.

This decisive action has sent ripples through the nation, resulting in Nigeria’s global oil production ranking plummeting from 4th to 24th almost immediately. Governor Fubara’s stance not only puts the spotlight on the importance of Rivers State to Nigeria’s oil supply but also raises questions about the broader implications for the economy and energy sector.

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The business case for automating customer due diligence and FICA compliance

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By Sameer Kumandan, MD of SearchWorks

Automation has been labelled as a way to tighten up the corners, without cutting them. An apt description, it’s all about using technologies to up productivity, boost efficiency, reduce errors and save businesses a lot of time without having to make any sacrifices when it comes to quality or performance.

Customer Due Diligence (CDD) plays a critical role in mitigating financial crime risks by helping businesses establish that their customers are not involved in illegal activities and that they are who they say they are. In addition, CDD is essential to ensure compliance with South Africa’s Financial Intelligence Centre Act (FICA). And it’s not a one-time activity. Ongoing monitoring is vital to keep close tabs on how a customer’s circumstances and activities change over time. This is important, because risks evolve over time and because of the rise of what

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The Heart of Moppet Foods: How Loyal Customers Like Marian Are Building a Nigerian Brand Together

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When Roberta Edu launched Moppet Foods, a locally-produced baby food brand, she hoped parents across Nigeria would find value in a nutritious, homegrown option for their babies. But what she didn’t expect was the level of passion and loyalty she’d see from her customers—people who believe in her brand so deeply that they’ve become its unofficial guardians.

Recently, Edu shared a story about one of her most devoted customers, Marian, who lives in Akoka and buys Moppet baby food from the Justrite store in Bariga. Marian’s dedication goes far beyond simply picking up a carton of baby food; she’s become almost a part of the Moppet team. “The way she looks out for us—it’s something I can’t even describe,” Edu said.

Marian has taken it upon herself to monitor Moppet’s stock levels at the store, as if the brand were her own. Every time she’s at Justrite, she’ll check the shelves,…

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Umo Eno: Akwa Ibom Embarks on 18-Storey Ibom Towers Project in Lagos to Drive Economic Diversification

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Akwa Ibom State has launched a notable development initiative outside its borders, breaking ground on an 18-story building, the Ibom Towers, in Lagos. The project has stirred discussions around its location, with some questioning why the state would invest in infrastructure outside Akwa Ibom. Governor Umo Eno clarified the motivation behind the decision, describing it as a strategic move aimed at diversifying Akwa Ibom’s economy and establishing new revenue sources.

Speaking at the groundbreaking event, Governor Eno stated, “Today, as part of our efforts to diversify Akwa Ibom’s economy, we marked the groundbreaking of the 18-story Ibom Towers in Lagos. This project, expected to be completed in 24 months, will drive substantial revenue growth and economic ties between Akwa Ibom and Lagos States.”

The governor extended gratitude to Lagos State Governor Babajide Sanwo-Olu, who led the ceremony, as well as to former Akwa Ibom Governors Udom Emmanuel, CON, and Obong Victor…

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NITDA Fosters Indigenous Technology Production and Digital Literacy in Nigeria

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In a strategic initiative to promote indigenous technology production and enhance digital literacy across Nigeria, Kashifu Inuwa Abdullahi, CCIE, the Director General of the National Information Technology Development Agency (NITDA), welcomed a delegation from the National Agency for Science and Engineering Infrastructure (NASENI) and Imose Technologies Limited at the agency’s Corporate Headquarters in Abuja.

During this meeting, the team presented locally produced laptops and tablets manufactured by Imose Technologies in partnership with NASENI. This collaboration aims to ensure the availability of affordable digital devices for Nigerians, aligning with President Bola Ahmed Tinubu’s priority areas of accelerating diversification through industrialization, digitization, creative arts, manufacturing, and innovation.

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Voices of a new generation: looking at how young Nigerians make use of the media and internet on Youth Day

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Many countries worldwide celebrate Youth Day in some form or another. However, this day is observed in Nigeria on November 1, highlighting the country’s youth population.

As a tribute to tomorrow’s leaders, this annual salute to the youth aims to highlight the challenges faced by the youth and find potential solutions for these issues. According to a paper published by Cambridge University Press, young Nigerians have to navigate numerous problems, including unemployment, poverty, and a lack of access to education.¹

At Aleph Group, we believe quality education is essential for equipping young Africans with the skills they need to enter the global workforce. This includes practical training in suitable industries and technology, said Stanislaus Martins, Aleph’s Managing Director for West Africa.

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Datacentrix graduates singled out as only Southern Hemisphere winners in IBM watsonx Generative AI Challenge

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Datacentrix, a leading provider of high performing and secure ICT solutions, is proud to announce the outstanding achievements of two graduate teams. The two teams entered the recent IBM watsonx Generative AI Challenge and achieved first and third place in the watsonx AI Assistant Challenge track.

The aim of the interactive, hands-on competition was to allow participants to transcend theoretical generative AI concepts and create practical, AI-infused solutions for real-world customer use cases.

Competing against teams from 44 different countries across the Europe, Middle East and Africa (EMEA) region, Datacentrix’s X-men group, composed of graduates from Cape Town and Johannesburg, secured first place, while the Quadbots, hailing from Durban, earned third place, marking a significant milestone for Datacentrix as the only winning teams from the Southern Hemisphere across the entire competition.

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