DEXTER TO INTRODUCE INNOVATIVE FINTECH SOLUTION THIS Q1 CALLED CROWDBUX

DEXTER TO INTRODUCE INNOVATIVE FINTECH SOLUTION THIS Q1 CALLED CROWDBUX

 

Dexter Digital Technologies Limited, a Nigerian financial technology (Fintech) startup company with core emphasis in churning out world-class financial solutions – informed by research – into the ecosystem, has announced their plans for 2023 starting with the launch of their flagship product called Crowdbux, this first quarter.

Speaking to the media, the Founder and Chief Executive Officer of Dexter, Chidebere Onwuzurike said “We are a research-based software startup founded in May 2021, we are leveraging the boundless powers of data and insights from excellently curated user experience research to develop and innovate more powerful, and inclusive software for the fintech sector. When asked if Crowdbux as a solution will make the needed impact in the fintech sector of the software industry, he responded “Yes, I can confidently say that it definitely will. For starters, we only develop and innovate software premised on credible insights from diligently curated consumer research; and Crowdbux is one such innovation as a result. We have received early validation for the Crowdbux solution from potential investors, current and prospective partners and users. Put in perspective, during our waitlist marketing campaign in October, we successfully waitlisted over 2000 individuals within 3 weeks of the campaign – a few of whom we have identified to be decision makers of potential partner organizations, the expectations are high but we are definitely geared to make a lasting impact in the industry.”

He added that “Research and development are the bedrock of our operations at Dexter, I must point out that for us, it is most gainful not to compromise on research, because we maintain a heavy dependence on quality feedback for iterations. Achieving this successfully has been a bit challenging, due in some parts to limited resources available to recruit paid volunteers and analysts to sustain the execution of a series of extensive user experience research online and offline for product development.”

Though as a startup, there has been challenges along the way. Speaking on these challenges, Chidebere opined that “We are challenged in the same way every other startup creating amazing innovation is, the main issues of access to financing – whether a credit or investment facility – can be challenging when you are new in software industry because you have to prove your worth even to your team – that that you are uniquely positioned to generate huge revenues from innovating scalable software solutions, and more importantly, that these software solutions go on to consistently ease the pain-points of a large group of people and businesses anytime, anywhere”

On launching of their app, Chidebere said “This for us is a research-informed decision, we want our users to tell us if and when they want it, however the Crowdbux web application will be accessible using any web enabled device from March 2023.”

In an ecosystem that is offering credit to lots of Nigerians today, there is a need to have a robust and standardized credit ratings for Nigerians. Dexter’s Boss is desirous of changing the narrative by introducing a wonderful credit scoring system. He said “Credit scoring is essential in helping us to determine who is creditworthy on the crowdbux solution, we have innovated a fantastic proprietary scoring model that takes important data points into account, and learns data and patterns in order to provide accurate scores for users. We are also partnered with Nigeria’s biggest credit bureau to further validate our proprietary model and provide a more robust credit reportage for users, while providing our credit vendors with the information to apprise their lending decisions. In the same vein, we are leveraging the facility and expertise of our partners to provide a free comprehensive credit report to our users every year. I believe that, as the CBN’s cashless policy continues to soar, FinCo’s in the credit market would begin to experience a growing demand for credit scoring as a market-standard assessment accessory for accessing any form of credit finance.”

 

ANTHONY EMEKA NWOSU

NCC renews MoU with Lottery Commission

NCC renews MoU with Lottery Commission

 

The Nigerian Communications Commission, NCC, Wednesday in Abuja, signed a revised Memorandum of Understanding with the National Lottery Regulatory Commission, NLRC, with provisions to deter unapproved lottery and gaming practices on telecommunications platforms through information and intelligence sharing.

Executive Vice Chairman of NCC, Prof. Umar Danbatta noted that the MoU, which will impact the gaming industry, is in sync with the Commission’s Strategic Vision Plan (SVP) and is in a bid to promote fair practices in the industry for the protection of telecommunications consumers in relation to lottery and gaming activities.

He said the collaboration is in line with the provisions of Commission’s SVP, 2021-2025, which provides for facilitation of strategic partnership and collaboration with other bodies to enhance service delivery.

He explained, “The initial MoU expired in 2022, amendments and modifications have been made since no MoU is cast in stone, especially given the industry’s dynamic nature.”

The Director General of NLRC, Mr Lanre Gbajabiamila expressed confidence that the MoU will yield favourable outcomes in curbing illegal online gambling as he shared his hope that NCC and NLRC will achieve their intentions in the interest of gaming stakeholders.

He noted how unapproved lottery and gaming activities and practices undermine the integrity of domestic and global gaming markets to the detriment of stakeholders in addition to undermining consumer confidence in these markets, hence the collaboration with the Commission to arrest such tendencies.

Earlier in his opening remarks, the Executive Commissioner (Stakeholder Management), Barr. Adeleke Adewolu disclosed that the MoU was designed to address recent technology information-sharing capabilities, and consumer satisfaction and to enhance areas of co-regulation in line with the Federal Government’s digital economy mandate.

The new MoU replaces one that was first signed by both organizations, which expired in 2022. It provides complementary approaches to deter unapproved lottery/gaming practices on telecommunications platforms through information and intelligence sharing in recognition of how unapproved lottery and gaming activities and practices undermine the integrity of domestic and global gaming markets to the detriment of stakeholders in addition to undermining consumer confidence in these markets.

Under the agreement, following requests from NLRC, NCC shall endeavour to block or disable illegal lottery gaming operators on the telecommunications service providers’ platform in Nigeria and NLRC

The document was developed by a Joint Implementation Committee (JIC) comprising representatives of NCC and NLRC to implement the MoU and other matters that promote collaboration between both organizations in their regulatory functions.

Fraud trends every CFO should know

Fraud trends every CFO should know

 

 

PwC’s Global Economic Crime and Fraud Survey 2022 revealed that 46% of organisations have experienced fraud, corruption, or other economic crimes in the last 24 months. Ryan Mer, CEO of eftsure Africa, a Know Your Payee™ (KYP) platform provider, gives a rundown of what to look out for.

 

  1. Fraud protection is no longer optional

It’s hard to believe today, but just a few years ago, even large organisations didn’t have payment fraud protection in place. One of our clients, a listed company, had an ongoing issue with payment fraud totalling over R3 million in losses in the year prior to adopting eftsure. They haven’t lost a cent to payment fraud since.

 

Businesses are taking the threat of payment fraud a lot more seriously than they did even two years ago. They’re acknowledging that the payment fraud risk is there and that it’s ubiquitous – not only large corporations and banks are being targeted anymore. They know they have to be protected in some way or another.

 

  1. It’s easier to hack people than to hack machines

Business email compromise (BEC) is a massive problem, even with protection in place. As threat protection becomes more sophisticated, fraudsters are targeting people to circumvent these digital security measures. There are numerous examples of bad actors manipulating various levels of staff. Although it may be tempting to believe only gullible individuals fall for scams, but criminals are often professional, persuasive and are well-trained in using human weakness, as well as individual and company information to their advantage.

 

Here’s a likely scenario: A client writes an online review of your company. A fraudster sees this and now knows this person or company is your client and that you would expect emails from them. They create a similar-looking fake email address, paste the client’s logo in their email, attach a malicious document, and send it to your company asking for clarification on the ‘attached invoice’. It takes one person on your team to open that attachment without double checking the sender’s details, and your company is compromised. This happens so easily when financial teams are under tremendous time pressure.

 

Email security really does help, but personnel training is crucial. Otherwise, it’s like having the best security at your house, from beams to alarms to fencing, and letting someone through the gate without checking their credentials.

 

  1. Manual processes are dangerous

The surprising result of increased digital fraud and BEC is that many companies opt to solve this problem by introducing more manual processes. They’re adding another person as a point of contact or another manager to oversee crucial checks. The problem is that it’s still a manual process, reliant on a person that can be manipulated, whether unwittingly or not. It’s a case of rearranging the deck chairs on the Titanic. Digital threats must instead be fought with digital solutions.

 

Another common mistake is to automate some processes but keep certain steps in that process manual. And ‘manual’ doesn’t necessarily mean physical documents but can involve adding extra steps to a process that could easily be automated. Onboarding new suppliers or clients is a great example: Many businesses have a platform for this, but then request certain documents via email. That’s an invitation for an interception, impersonation or malicious attachment. Or they’ll take data from the platform and manually perform processes and procedures on it, adding in a human element and the potential for mistakes. That’s not only counter-productive from a security perspective, but also a business perspective.

 

Luckily, we’re seeing the pendulum start to swing in the other direction. CFOs and CEOs, the executives responsible for processes, controls, operations and systems in the organisation, are starting to pay more attention to digitisation and automation. There’s a better understanding of these risks and benefits in general. After all, there is a lot of responsibility that sits on the shoulders of those responsible for outgoing payments in an organisation.

 

Onboarding, for example, is one of the first experiences someone will have with your company and should be as seamless and simple as possible. By using a platform that can digitise and automate the process, you can speed up the onboarding journey and collect all documents upfront, saving time for all parties involved. A digitised and controlled internal approval process that is automatically part of internal procedures increases business efficiencies and reduces wastage of productive time and energy that should be used to further the company, as manual labour is greatly reduced.

 

  1. Don’t just upgrade; integrate

The next step is to not only automate, but to integrate. Though our solution can be used as a standalone system, we’re seeing more clients integrating it into their existing systems.

 

A Software as a Service (SaaS) provider like eftsure can help enhance processes and limit payment fraud risks by providing an integrated onboarding, verified master data management and payment screening solution that cross-references the payments an organisation is about to release with a database of verified bank account details. This can be integrated into anything from ERP and accounting systems to sales and customer relationship management systems. The platform alerts you to any potentially compromised  payment details, at point of payment, allowing you to deal with the problem before the flow of funds has occurred.

 

The CFOs who are ahead of the digitisation curve, or further along in the process, are now looking for more integrated solutions. This cuts down on the number of steps in each process, and the time spent on each step – improving security while improving the bottom line. Even if they’re making these decisions for the sake of efficiency rather than security, it’s still a win on both fronts and at the end of the day, which stakeholder, with that huge responsibility of releasing payments on behalf of a company wouldn’t want peace of mind before releasing payments?

 

2023 AFRD: We share your pains- Gov. Ugwuanyi tells wives of fallen heroes

2023 AFRD: We share your pains- Gov. Ugwuanyi tells wives of fallen heroes
…Donates gifts to 210 widows in Enugu
#Governor Ifeanyi #Ugwuanyi of #Enugu State at the Michael Okpara Square, Enugu, on Sunday, participated in the activities marking this year’s Armed Forces Remembrance Day (AFRD), assuring wives of fallen heroes in the state that his administration shares their pains.
Governor Ugwuanyi, on arrival, observed and inspected the parade mounted by the military, laid the Remembrance Wreath at the tomb of the Unknown Soldier and released the pigeons symbolising peace in honour of the fallen heroes.
Immediately after the activities marking the AFRD, the governor identified with wives of fallen heroes seated at the event and assured them of the continued prayers and support of the state government towards the wellbeing of their families, amid tears of joy.
The governor, therefore, announced the donation of cash and food items to each of the 210 wives of the fallen heroes in Enugu State, describing the event as a solemn moment for the state and the country.
Governor Ugwuanyi also identified with officers of the military and commended them for the sacrifices they make for the peace and stability of the state, stressing that “the peace we have here in Enugu would have been difficult without you people; we are grateful.”
Earlier, prayers were said by Christian and Islamic clerics for the repose of the fallen heroes’ souls and the wellbeing of their families after a minute silence was observed in honour of the departed military personnel.
Prayers were equally offered for the peace, security and progress of Enugu State and Nigeria; for God’s guidance and protection upon all those in leadership positions in the country including President Muhammadu Buhari, Governor Ugwuanyi and other governors, and the Service Chiefs; as well as for peaceful general election and successful transition in 2023.
The laying of wreaths were also performed by the General Officer Commanding (GOC) 82 Division of the Nigeria Army, Major General Umar Musa, represented by the Garrison Commander, Brigadier General M.K Ibrahim; the Air Officer Commanding (AOC) Ground Training Command, Nigerian Air Force, Enugu, Air Vice Marshal S. Olatunde; the Speaker of Enugu State House of Assembly, Rt. Hon. Edward Ubosi; the Chief Judge of the State, Hon. Justice Afojulu Raymond Ozoemena; the Commissioner of Police, Enugu State Command, CP Ahmed Ammani; the Chairman of Nigerian Legion, Enugu State Council, Asst. Cmdt. General Emeka Norman Igwesi; the Chairman of Enugu State Council of Traditional Rulers, HRM Igwe Amb. Lawrence Agubuzu, and representative of wives of fallen heroes, Mrs. Gracious Moses.
The President, Customary Court of Appeal, Enugu State, Hon. Justice George Chibueze Nnamani; the lawmaker representing Enugu East/Isi-Uzo Federal Constituency, Hon. Prince Cornelius Nnaji; the Deputy Speaker of the State House of Assembly, Hon. Uche Ugwu; other members of the state parliament; representative of the State Director, Department of State Services (DSS); other Heads of Security Agencies in the state; the Secretary to the State Government, Prof. Simon Uchenna Ortuanya; the Deputy Chief of Staff, Government House, Enugu, Prof. Malachy Okwueze; the State Head of Service, Ken Chukwuegbo; other members of the State Executive Council (EXCO), Special Advisers to the Governor; Council Chairmen; Chairman, Christian Association of Nigeria (CAN), Rev. Emmanuel Edeh; Judges of the State Judiciary; Senior Military Officers; and members of the Nigerian Legion, Enugu State Council, attended the colourful and memorable event.

HOPE UZODIMMA SALUTES THE GALLANTRY OF NIGERIA ARMED FORCES ON THEIR REMEMBRANCE DAY

HOPE UZODIMMA SALUTES THE GALLANTRY OF NIGERIA ARMED FORCES ON THEIR REMEMBRANCE DAY

 

His Excellency, Hope Uzodimma in his message commemorating the 2023 Armed Forces Remembrance Day, salutes the gallantry and bravery of our fallen heroes who paid the supreme price in service to our nation.

While recognising their sacrifices and dedication to service, which has sustained our territorial integrity, the Governor prayed for the continued protection of the Officers and Men of the Armed Forces and their families.

His Excellency who performed the wreath-laying ceremony at the Rear Admiral Ndubuisi Kalu Square (RANKS) today, acknowledge the fact that our fallen heroes gave their all to ensure the safety and freedom we enjoy today.

He, therefore, called for continuous support to our Officers and Men in uniform, who are devoted with their valour in ensuring the protection and safety of all.

BBHS Abeokuta: I wish all the old boys and the board of the school a successful celebration – Yemi Osibanjo

BBHS Abeokuta: I wish all the old boys and the board of the school a successful celebration – Yemi Osibanjo

 

 

Education and capacity building has always been the bedrock of any development in the society. Celebrating this institution has always been a thing of glee and fanfare. In line with this analogy, Baptist Boys High School, a school with robust history recently celebrated their old boys. In light with with this, Vice President, Yemi Osibanjo was present to celebrate BBHS as it is fondly called.

Speaking via his social media, the Vice President said “The values that we imbibe are important indicators of the direction that we are likely to go in life. When we read about great people in the annals of history, their achievements and deeds in life are shown in glowing terms. Most of the time, however, we gloss over the underlying attributes that make these achievements possible, one of which is the values that they hold dear. “

He added that “Earlier today at the centenary celebration of the Baptist Boys High School, Abeokuta, I spoke on the primacy of values as the bedrock for nation building, using the lives of some of the old boys of the school, some of which are Chief Obafemi Awolowo SAN, Chief MKO Abiola GCFR, Chief Olusegun Obasanjo GCFR, and Prince Bola Ajibola SAN as examples. “

“The most important asset available to every country for its growth and development is its human resources. In developing this vital asset, it is important that we emphasize the pre-eminence of values, and there is no other place to start than our schools. I wish all the old boys and the board of the school a successful celebration:, He concluded.

 

Anthony Emeka Nwosu

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

African start-ups at the forefront of digital innovations transforming Africa’s economy

African start-ups at the forefront of digital innovations transforming Africa’s economy

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African tech innovators at the recent Africa Money & Defi Summit in Accra, Ghana proved that they are at the forefront of change on the continent, from fintech to agritech.

 

“Africa has the ability to leapfrog into decentralized finance (Defi) and smooth over the difficulties of cross-border finance through blockchain and web3,” said participant PayBox co-founder David Boye-Doku.

One of the beneficiaries of the ITC NTF V program, PayBox is a fast growing African fintech start-up cross-border mobile growth engine enabling easy access to offline and online digital payment and business solutions.

“Decentralizing finance in Africa will give everyone access and the choice of alternative currencies; it offers financial and digital inclusion,” Boye-Doku said.

ITC, through its NTF V Tech project in Ghana, sponsored fintech start-ups PayBox, Motito, Pal and Makewehelp to exhibit at the West Africa Money and Defi event. Fintech leaders like MFS Africa and Paystack and Web3-focused businesses Revio and Mazzuma also attended, sharing their industry knowledge.

Africa has the ability to leapfrog into decentralized finance (Defi) and smooth over the difficulties of cross-border finance through blockchain and web3

“It was amazing. We met many Nigerians who were looking for products that worked with web2.0 and web3 blockchain. We explained what we are doing in web2.0 and what we have started for web3 and they were interested,” Boye-Doku said.

PayBox began its business journey by offering mobile payment solutions to small and medium sized enterprises.

“The next phase is infusing web3 rails on mobile payments so that a local wallet can become an international wallet for small businesses and millennials in Africa. Your phone number can become a crypto wallet to send funds easily across Africa,” said Boye-Doku.

Web3 wallets can be web-based, mobile-based, or even hardware based. Their relatively simple user interaction provides the user access to decentralized blockchain-based apps that serve as gateways to crypto assets. This allows users to instantly send and receive those  assets via mobile phone number, email or crypto address.

Boye-Doku believes  central bank digital currency (CBDC) is the key to the rapid development and growth of African economies. “It would allow capital to move freely at lightning speed with near zero transaction  fees and convert crypto into currencies. This means we can spend in our domains as well as transact with people not in our domains,” he said.

“We chatted with a representative from the Bank of Ghana, and they are looking for a token that will sit on top of the Ghanaian CBDC. We are already building an exchange token so they can ride on that,” he said.

ITC helped Paybox to attend the summit. “ITC has been amazing,” said Boye-Doku. “They play a key role in empowering start-ups, giving them access to information, training and a global presence.”

Cellulant Named Number One Payment Brand in Kenya

Cellulant Named Number One Payment Brand in Kenya

Pan-African payments technology company, Cellulant (Cellulant.io), was named as the ‘Top Payments Gateway Brand in Kenya” at the Top Star Brand Awards 2022. This award recognises Cellulant as a leader in fintech and payments acknowledging the company’s commitment to excellence and customer satisfaction.

 

The Top Star Brand Awards recognise the “crème de la crème” brands that authentically lead their respective industries in brand presence. Star brands are those that have achieved milestones, have a history of success, and, most importantly, have established themselves as trendsetters for newcomers to the industry. It is a display of those brands that have acquired unparalleled branding standards and have all the necessary components to become household names on a global scale. The awards are organized by Digital Events Ltd in conjunction with an independent panel of judges drawn from digital tech consultants, academia, IT professional bodies, relevant government department representatives, industry networks, and the media.

 

“We are honored to receive this award and be recognised as a Top brand in Kenya. Owing to the COVID-19 Pandemic, we have seen a significant shift in the use of digital payments in the last 2 years. Cellulant has demonstrated exceptional performance in the payments industry, and we remain dedicated to providing our clients with cutting-edge products and services. This award recognizes our team’s hard work and devotion, and we are grateful for the support of our customers and partners. We are proud to add this award to our list of achievements this year and look forward to continuing to provide for our customer’s needs and support the economy’s growth and success,” said Faith Nkatha Gitonga, Country Manager at Cellulant Kenya.

 

We are honored to receive this award and be recognised as a Top brand in Kenya

Cellulant, a Pan-African payments company, is addressing fragmentation in payment processing for businesses through Tingg,  its digital payments platform enabling companies across Africa to accept payments from their customers seamlessly. A single integrated solution, Tingg offers simplified payment tools and processes for a merchant to manage their payments. As a result, businesses can allow their customers to make payments for goods and services using locally relevant payment options.

 

Speaking on the recognition, Divine Muragijimana, Cellulant’s Group Head of Global Marketing and Communication stated; “We are proud of the hard work and dedication that our team has put into building and maintaining a strong brand presence in Kenya. Cellulant remains committed to providing innovative payments solutions and excellent customer service, and it is gratifying to see that our efforts have been recognized. We will continue to strive for excellence and to be a trusted and respected leader in the fintech and payments industry in Kenya.”

 

Cellulant serves the top companies in Kenya including Naivas, Kenya Airways, Jambojet, Equity Bank, KCB, Bolt and Kenya power among others. These companies are among many others that Cellulant serves across the continent. Cellulant remains committed to innovation, sustainability, and social responsibility, and has a long history of delivering exceptional products and services to its customers.

 

Cellulant has an office presence in 18 African countries with a payments platform connecting thousands of businesses with 350+ payment options (bank, wallet and card integrations) across 35 countries. The platform powers payments for 1100+ client businesses, 50+ banks and 220M+ consumers on a single inclusive network allowing for interoperability across Africa.

Saudi Arabia to Take Latest Giant LEAP into New World Economies with Multi-Sector Future Technology Event and AI-Focused DeepFest

Saudi Arabia to Take Latest Giant LEAP into New World Economies with Multi-Sector Future Technology Event and AI-Focused DeepFest

100,000-plus participants anticipated as world’s most visionary tech event gets even bigger with globe’s leading disruptors heading to Kingdom in February 2023; Billionaire investors, technocrats, tech integrators, and sporting royalty from 50 countries among stellar 700-plus talent line-up.

 

After breaking a host of industry records during its 2022 launch, LEAP – the world’s most visionary technology event – returns to Riyadh in February with an even bigger format promising to attract the greatest digital thinkers and doers to empower the entrepreneurs, ignite innovation and leap into new worlds.

 

An expected 100,000 global tech innovators and disruptors will gather at the Riyadh Front Exhibition & Conference Centre from February 6-9, 2023, to unveil and accelerate a huge platform of breakthrough products and ideas, and forge partnerships that will drive new worldwide collaborations leveraging technology’s limitless potential.

 

Taking place alongside LEAP, the inaugural DeepFest – in partnership with the Saudi Data & AI Authority (SDAIA) – will run from February 7-9 and gather drivers of the global Artificial Intelligence eco-system to unveil life-changing, multi-sector initiatives in a thought-leadership conference and sector-specific tracks, trainings, live-demos, start-up pitches and an exhibition featuring companies transforming the world we live and work in. Support comes from the Ministry of Communications and Information Technology (MCIT), which is powering LEAP in conjunction with Tahaluf – a strategic joint venture co-owned by Informa PLC and the SAFCSP.

 

Global business leaders, technocrats and experts will take to LEAP’s main stage to bring new perspectives to pressing world issues, including climate emergency and sustainable development, health crises, equality, inclusion, belonging and diversity. They will discuss the leadership strategies of tech giants and unicorns, explore web3’s business potential, and look to redefine governance paradigms for privacy, safety, and security.

 

The event will host over 700 billionaire investors, astronauts, technocrats, and sporting superstars turned tech investors across LEAP’s various stages housing 15 conferences.

 

With over 900 exhibitors confirmed for 2023, LEAP has drawn a powerful international line-up, some of which will take part in new mega tent displays and include world-leading names from throughout the USA, Middle East, Levant, North Africa, the Sub-continent, Europe, and Scandinavia. They include Saudi Arabian heavyweights STC, NEOM, Saudi Aramco, Mobily and ELM lining up alongside an international cadre of the biggest names in the tech business, including Snapchat, Google Cloud, Amazon Web Services, Visa, Alibaba cloud, Ericsson, Huawei, Dell, Nokia, SAP, Microsoft, Cisco, and IBM.

 

 

 

Some of LEAP’s speakers this year include football legend and tech investor Thierry Henry; billionaire venture capitalist Tim Draper; two-time World Boxing Heavyweight Champion Anthony Joshua; Pekka Lundmark, President and CEO of Nokia; Borje Ekholm, President and CEO of Ericsson; Steve Bartlett, the youngest Dragon’s Den investor, podcaster, and founder of Social Chain; Gitanjali Rao, the 17-year-old American inventor and TIME’s first-ever Kid of the Year; Susan Kilrain, NASA astronaut and the second woman and youngest person to pilot the Space Shuttle; and Sian Proctor, an explorer and mission pilot for the Inspiration4 all-civilian orbital mission to space. The scheduled investors control a combined and unprecedented US $1.6 trillion fund pool.

LEAP is the window to tomorrow’s world, an event which powers the future and empowers those looking to shape it

 

“Our rapidly changing world demands we keep pace with appropriate regulation and governance, and we need the best brains in the business to help us navigate a globally appropriate pathway,” said Faisal Al Khamisi, Chairman of the SAFCSP.

 

A series of precision-focused Orbital Talks at LEAP will lift the lid off new parameters impacting the creative economy, smart cities, 4IR, energy, sustainability, FinTech, HealthTech, retail, education, NFTs and space tech. The LEAP Investor Stage, meanwhile, will see the world’s most sought-after tech investors deep-mine emerging opportunities. Among those scouting potential at LEAP’s Investor Stage will be industry titans GV Ravishankar, Managing Partner of Sequoia Capital India; Tim Ringel, Investor & Advisory Board Member of Adit Ventures; and William Bao Bean, General Partner, SOSV, who will witness first-hand the exhilarating Rocket Fuel Start-up Pitch Competition, where 90 incredible start-ups will compete for a prize pool of more than US$1 million.  LEAP has also launched a Mentorship Scheme where up to 30 creative start-ups can connect with globally experienced experts before, during and after the event.

 

Themed ‘AI Beyond Imagination’, DeepFest will see thought-leaders, change-makers, big tech, data scientists, innovators, enterprises, academia, start-ups, and innovative business entrepreneurs unveil government AI initiatives and multi-sector innovations through a thought-leadership conference and sector-specific tracks, trainings, live-demos, and innovation sessions. The new conference program this year has tracks for clean tech, the Metaverse, , and women in technology, while the DeepFest exhibition will feature the world’s top tech companies and breakthrough stars.

 

The Future is Here and Now

 

Mingling with exhibitors and visitors will be robotic humanoids from Japan and Hong Kong, dancing robots from the USA,  the American innovators of the ‘Space 4 Girls’ weather balloon, which captures flight and low orbit images from space, and the team behind Roybi, the AI powered companions designed to tutor children. They will demo alongside Magic Keys augmented reality, which helps budding musicians learn to play instruments without reading music; the Stage11 music experience, which combines gaming, mixed reality and digital collectables; the South Korean haptic suit that has been integrated into VR games; Italy’s ‘Mirror’, which customises PINKO bags and mints them into NFTs; Interstellar Lab advanced farming technologies; and, from Estonia, the world’s first hydrogen-powered autonomous vehicle.

 

“These are the 21st century inventors who are presenting the world of living and work – but not as we currently know it,” said Michael Champion, Regional EVP, MEA at Informa Markets, which organises LEAP. “This is an unprecedented and universal exhibitor mix which will send technology advancement into a whole new world-living orbit. LEAP is the window to tomorrow’s world, an event which powers the future and empowers those looking to shape it.”

 

LEAP has garnered support from numerous leading government and private sector organisations. Strategic partners and sponsors for LEAP23 include NEOM, STC, Saudi Aramco, Mobily, IBM, Microsoft, Ericsson, Huawei, and Najm Insurance. The 2023 edition will also host country pavilions from the United Kingdom, Finland, Japan, Pakistan, Indonesia, Oman and India.

FINTRAK’S E-CHANNEL SOFTWARE ADDRESSES BANKS’ DRAWBACKS IN DIGITAL TRANSACTIONS

FINTRAK’S E-CHANNEL SOFTWARE ADDRESSES BANKS’ DRAWBACKS IN DIGITAL TRANSACTIONS

 

 

 

 

The reconciliation module enables maintenance of record of channels transactions, enabling near real-time representation of transactions and refund in case of technical machine problems.

E-Channel Solution reconciliation module comes with an inbuilt algorithm that decodes complex Electronic Journal Files, carry out data extraction from all available sources

 

 

 

Fintrak Software, an indigenous Fintech solution and software development firm in Lagos recently brought to fore their electronic channel (E-Channel) solution forvarious  tiers in the banking and other financial space. The product is designed  to address many drawbacks bankers face in various forms of electronic banking transaction, such as data collation and analysis in their various electronic channels.

Speaking on the importance of the solution, Bimbo Abioye, the Group Managing Director of Fintrak Software Limited said” Fintrak E-Channels solution aims to aid financial institutions to extract and create insights from data obtained from all the electronic channels customers carry out transactions through. These electronic channels include ATM, POS, USSD, Agency Banking, Mobile Banking, AND Internet Banking.”

He also added that “The solution that banks and other financial institutions need, must be able to quickly and accurately collect data off of all electronic channels and other data sources (where applicable), analyse and visualize them in order to enable stakeholders can easily make informed decisions to increase sales or boost other performance metrices on those channels. These are the core things that Fintrak e-Channel solutions are addressing.”

With loaded features embedded in the solution such as reconciliation module, ATM module, POS module, SSD module, Agency banking, Internet banking, Mobile banking and debit/credit Card business module.  The reconciliation module stands out. This module enables maintenance of record of channels transactions, enabling near real-time representation of transactions and refund in case of technical machine problems.

Speaking on this particular feature, Bimbo Abioye opined that “With the use of a consolidated database (picking data from CBA, e-Journals among others), the solution is able to store the opening and closing balance for each day or for each cash cycle of every ATM. This helps the users to keep a track of all the source data. The data being extracted from various sources can be consolidated from all legitimate bank sources; it becomes easier to trust reports which are generated on periodic duration. This helps the user determine settlements for shortage or excess of cash observed in the ATM Machine and other channels.”

Made up of different modules that will be addressing various types modules such as ATM module, POS module, SSD module, Agency banking, Internet banking, Mobile banking and debit/credit Card business module. The software is designed to specifically addresses these drawbacks in one platform.

Olakekan Adewale, Unit Head, Data Warehousing and Business Intelligence, Fintrak said “The Fintrak E-CHANNELS solution is a highly scalable and robust management solution, An E-CHANNEL solution that provides all the functionality needed. There are many modules in the e-Channel solution, including ATMs, POSs, USSDs, Agency banking, Internet banking, mobile banking, and card business modules based on what channels the client offers.

Adewale added that “Unlike most of the solutions in the market currently, Fintrak e-Channel solutions has many objectives such as an automated end-to-end e-Channel solution that displays data as needed by teams. “

“With various scope of the software such as Data Extraction, Data Integration, Data Cleansing, Data Analysis, Report Building and Visualizations, Volume and Value Monitoring, Transaction Management, Revenue Analysis, Budget Analysis and all other Reporting Requirements as needed by client. E Channel software helps organizations in cleansing and analysis of data, each module provides reports such Transaction Count and Value by branch, region and customer. Successful versus Unsuccessful transaction summary. Also reports on other transactions such as Actual ATM (volume and value) versus budget, Transaction Failure rate analysis, Transacting Customer Analysis, Active Ratio analysis and Predictive Analytics”,Adewale concluded.

The FinTrak E-Channel Solution reconciliation module comes with an inbuilt algorithm that decodes complex Electronic Journal Files, carry out data extraction from all available sources and provide a status for any transaction ID in no time.

 

 

Anthony Emeka Nwosu

 

 

“With various scope of the software such as Data Extraction, Data Integration, Data Cleansing, Data Analysis, Report Building and Visualizations, Volume and Value Monitoring, Transaction Management, Revenue Analysis, Budget Analysis and all other Reporting Requirements as needed by client. E Channel software helps organizations in cleansing and analysis of data, each module provides reports such Transaction Count and Value by branch, region and customer. Successful versus Unsuccessful transaction summary. Also reports on other transactions such as Actual ATM (volume and value) versus budget, Transaction Failure rate analysis, Transacting Customer Analysis, Active Ratio analysis and Predictive Analytics”