Fintrak Software Limited, a financial technology (Fintech) firm headquartered in Lagos, has set a new benchmark in the African financial landscape with its groundbreaking introduction of AI powered “Fintrak Credit 360”. This cutting-edge credit management software, laced with the power of Artificial Intelligence and Machine Learning, is poised to revolutionized credit processes within banks and allied institutions across the continent.
In a recent international webinar engagement spanning multiple African countries, from Kenya to Tanzania, Gambia, and Uganda, Fintrak Software Limited showcased its innovative software to a gathering of prominent industry players and bankers. The event was not merely a demonstration; it was a revelation. The Fintrak Credit 360 software garnered unanimous acclaim for its seamless integration of Artificial Intelligence and Machine Learning in credit risk management.
Bimbo Abioye, the Group Managing Director of Fintrak Software, said the software’s transformative impact on the credit lifecycle. Unlike conventional banking solutions, Fintrak Credit Risk 360 comprehensively captures every stage of credit management, from origination and appraisal to customer approval, loan approval, and even rescheduling. The infusion of Artificial Intelligence (AI) ensures a flawless execution of these processes, eradicating the possibility of human error.
Abioye emphasized the software’s ability to automate credit transactions, including intricate processes like payday loans, end to end. Through strategic integration with credit bureaus and regulatory bodies like the Central Bank of Nigeria, Fintrak Credit Risk 360 emerges as a holistic solution for any bank, empowering them to manage various loan types effectively.
In the words of Omar Mboob, a seasoned banker from Gambia, Fintrak’s software has streamlined their operations, introducing meticulous underwriting and enhancing client oversight. The automation features have instilled confidence in auditors due to adherence to international financial reporting standards (IFRS), significantly boosting efficiency and productivity.
Bimbo Abioye, Group Managing Director, FINTRAK Software Limited
Kenneth Uzoegwu, a financial analyst, added that Fintrak’s Credit Risk software is impactful for its swift decision-making capabilities, facilitated by AI and machine learning components.
Christopher Sualeze, Head of Commercial Banking SBU, FinTrak Software, highlighted the software’s open architecture, making seamless integration with other credit software possible. He also emphasized its prowess in anomaly detection and behavioral analysis of customers, facilitated by a dynamic product rack.
Fintrak Credit Risk 360 incorporates a comprehensive array of core components essential for managing credit risk effectively. This robust system encompasses features such as loan origination and collateral management, corporate bulk loan breaking, credit reporting, disbursement execution, loan restructuring, and real-time loan monitoring. Furthermore, the system integrates an embedded document management system, utilizing cutting-edge artificial intelligence and machine learning technologies for efficient data analysis and decision-making processes. It also streamlines credit documentation processes, including Credit Approval Memos (CAM) and Credit Approval Forms (CAF). Additionally, the platform facilitates rigorous credit appraisal through in-depth financial analysis and risk rating methodologies.
The system further extends its functionality to accommodate various approval levels, from bank officers to credit committees and board committees. It provides mobile loan approval capabilities, ensuring flexibility and accessibility for stakeholders involved in the approval process. Through its digital lending capabilities, the platform transforms the lending experience, making it more efficient, transparent, and secure for both financial institutions and borrowers.
In a constantly digitizing world, the need to have a robust information technology (IT) solution for any level of business becomes imperative from website development to daily operations, businesses must incorporate IT to remain relevant. Though, many businesses especially start-ups in Africa, Nigerian inclusive has always had a phobia in deploying IT solutions that will enable them to boost their productivity, citing cost and expertise as a hindering factor. Tanta Innovative Limited, an indigenous software development firm located in Lekki has recently launched an All-in-One Customer relationship management (CRM)Packages specifically designed for small and medium businesses (SMEs) in Nigeria and Africa.
Lauded by many business owners, the Tanta SME Business SUITE has shown that small businesses can be fully digitized and still not have a deep hole in their pocket as it is with oversea software programs and at the same times enjoying some level of bespoke or tweaking to suit each business needs. The Tanta SME Business Suite is an all-in-one software solution designed to meet the diverse needs of Small and Medium Enterprises (SMEs). It integrates CRM, Email Marketing, Business Analytics, SEO, and Web Development into one cohesive package.
Speaking to the media, Abraham Esandayinze Tanta, the Chairman of Tanta Innovative Limited said that “Covering everything from robust CRM solutions to cutting-edge web development, our packages are tailored to empower businesses of all sizes. Cost Efficiencies, We understand that every business is different, especially when it comes to financial planning. That’s why we offer both one-time payment and flexible monthly plans. Choose the one that fits your budget and cash flow needs.”
Abraham Esandayinze Tanta,Chairman,Tanta Innovative Limited
He added that, “On Streamlined Operations, Our suite is an all-in-one package, specifically designed to address the unique hurdles your business faces. Whether you’re in retail, technology, or any other sector, our tools empower you to be more efficient and effective in your operations. Also, our Customer Involvement infrastructure is robust. With Tanta, you’re not just purchasing software; you’re investing in a brighter, more sustainable future for your business.”
With many levels or types of businesses to choose from, Tanta’s SME Business Suite are paid for annually from the Starter pack which gives an SME various benefits such as Basic Static Web Pages, Up to 5 static pages. Ideal for portfolio websites, landing pages, etc. They will have Business Email Accounts,1-Year Hosting with Free Domain, this includes one .com domain free for the first year. Renewable at standard rates. They will also get Basic SEO Services, Meta tags, Google Analytics setup, and basic keyword optimization. Others are Basic Email Marketing, Basic Newsletter Campaigns for up to 1,000 subscribers. Social Media Management, Business Analytics, Google Analytics setup and basic performance reports, Google My Business Listing, Setup, verification, and initial profile optimization.
The other level which is “Professional” has these benefits including Dynamic Website with Up to 15 pages with basic interactive elements like contact forms and customer logins.5 Business Email Accounts, CRM Integration, Streamline customer management with our easy-to-use CRM. Also for paltry N20,000.00 they get Advanced SEO Services, In-depth keyword research, backlinking, and content optimization.
Additionally, there will be automated campaigns, customer segmentation, and analytics for up to 5,000 subscribers, Social Media Management, includes account setup, content calendar, and advertising setup for up to 4 platforms. Then Advanced Business Analytics which includes detailed reporting, traffic analysis, and performance metrics. Google My Business Optimization and Ongoing profile management and customer review management.
Enterprise-level keyword research, backlinking, technical SEO, and ongoing optimization. Personalized email campaigns, A/B testing, and analytics for an unlimited number of subscribers. Full Social Media Management, Comprehensive management of all your social media platforms, including advertising campaigns. Then there is In-Depth Business Analytics, Customized analytics dashboard, advanced reporting, and actionable insights. The business will enjoy the services of a Dedicated Account Manager that will oversee your project and ensure optimal performance.
“The Tanta SME Business Suite is designed to be user-friendly. Our team is always available for support and guidance. On data security, Yes, we prioritize your data security. Our cyber-security protocols are in line with international best practices. We offer round the clock customer support through email, phone, and live chat. Our uptime is 99.9% The Enterprise package also includes a dedicated account manager. We also do not hold businesses down with long term contracts. There is no long-term contract for any of the packages. You can choose to cancel at any time. We want businesses to experience growth,” Abraham Esandayinze concluded.
Tezza Academy and the Pentecostal Fellowship of Nigeria (PFN) have partnered to establish an IT specialization training facility in Lagos. The goal of the partnership is to train young Nigerians in high-end IT skills, particularly in software testing and software quality assurance. The facility will offer comprehensive training programs in areas such as product development, technology stack specialization, and customer experience management.
The collaboration aims to address the increasing issue of youth unemployment in Nigeria by providing young individuals with industry-specific knowledge and skills in technology. The training facility will cater to youths from all tribes and religions, offering equal opportunities to acquire valuable tech skills.
The PFN believes that partnering with Tezza Academy will contribute to reducing unemployment and job insecurity in the country, thereby enhancing the nation’s prosperity. The partnership will also benefit various industries, including banking, oil and gas, insurance, healthcare, and telecommunications, by providing a pool of skilled IT professionals within Nigeria, reducing the need to search for talent abroad.
Tezza Academy, since its launch in the previous year, has been successful in bridging the gap for local talents by providing a curriculum that combines structured instructional programs with practical field experience. The academy fosters a collaborative learning environment that equips trainees with the necessary IT skills and real-world exposure.
The partnership with the PFN will expand opportunities for more young Nigerians to benefit from the academy’s residency training model, which is provided at no cost to the trainees. The partnership also aims to secure placement opportunities for trainees upon successful completion of their training and attainment of the required certifications, leveraging PFN’s extensive network.
Mr. Jide Modele, a partner at Tezza Business Solutions and the Managing Director of Tezza Academy, described the partnership as groundbreaking and emphasized its potential to positively impact Nigerian youths by enhancing their capacity and relevance in the global economy. He highlighted the ongoing demand for highly skilled IT resources and stressed the importance of concerted efforts from both the public and private sectors to address the skill gap.
In summary, Tezza Academy and PFN are collaborating to train young Nigerians in software testing and IT skills. The partnership aims to address youth unemployment, provide industry-specific knowledge, and empower Nigerian youths with high-end IT competencies, bridging the skill gap in the country.
COURE Software & Systems Limited (“COURE”), an indigenous information technology (IT) firm located in Lagos, will be marking 25 years of existence, 15 of which have been spent deploying IT solutions and services in Nigeria and other African countries. From telecoms to financial to the public sector, the company has made tremendous strides in various sectors of the economy.
Speaking to the media, COURE’s CEO, Uche Onwudiwe described the company as, “a platform services provider with a focus on the provision of accurate, secure and relevant data to improve its clients’ business processes and operations.” He reflected on the journey so far, noting that the company “started out in the US in 1998 at a time when the internet and modern technology, as we know it, were taking off. At that time, we were focused on networking and physical systems integration.”
COURE’s CEO, Uche Onwudiwe
“Over the years, the shifts in technology and the need to be scalable beyond billing for individual man hours caused us to migrate our technology services first to web and application development, then to what we currently provide today, which are platforms that leverage standardized and aggregated data to enable and enhance the operational efficiency of our clients. It has been an exciting 25-year journey of change and transformation! Our flagship solutions, ANQ and HUB, have been enabling the telecom, fintech, banking and various other sectors to increase their value to their customers. Our development teams consist of analysts, UI/UX experts, programmers, product managers and network engineers all of whom have many years of experience in the design, development and support of clean, functional and aesthetically appealing applications and solutions.”
On their strides in many critical sectors, COURE Chief Executive Officer added that “COURE has established key partnerships in the telco, banking, fintech, payments and public sector spaces. Through our platforms, we are able to aggregate various types of data, analyze the data, and create services that provide value to these organizations and generate revenue for them. This makes us an enabler of fintech firms as opposed to being one ourselves.”CC
“Our ANQ (All Number Query) is a lookup platform that provides quick and easy access to information which enables our clients support their customers in areas such as Fraud prevention, Routing and KYC (Know Your Customer) using various number and data sources. Our partnership with data owners and access to large volumes of diversified data along with our processing capacity and intelligent algorithms enables us apply real-time analytics to data that is being searched against and provide information to businesses to aid their decision-making.”
“Our HUB platform is what is called a CPaaS – Communication Platform as a Service. It enables Aggregators and Value-Added Service (VAS) providers in the telecom industry to integrate with the Telcos, then safely and accurately deliver messages between the applications through the Telcos and onward to the end customer and back. Message types include Bulk SMS, USSD, Whatsapp and RCS (Rich Communication Services). It also addresses a number of industry issues and concerns such as the management of Sender IDs and Short codes. HUB is a ready-to-use platform for SMEs to create and manage their services, content, and subscriptions. It is convenient and requires no local installation.”
Throughout the years, the IT organization has faced various challenges. Onwudiwe commented on some of these challenges, citing as an example, the loss of talented IT resources across the sector. He stated that due to the insecurity and economic hardships in the country, the technology sector has experienced a loss of talent, many of whom have fled the country in search of supposedly greener pastures. This has made it crucial for COURE to implement a proactive recruitment and talent retention strategy to prevent the negative effects of this trend from affecting its business.
The organization has grown in leaps and bounds, having extended its partnership reach to many African countries. Onwudiwe noted that, “Our routing services are present in most African countries including Nigeria, South Africa, Ghana, Kenya, Tanzania, Côte D’Ivoire, Benin, Senegal, Tunisia, Morocco, and Egypt. Our 2023 roll-out plan includes expansion to key regions within the continent with a focus on Ghana, Uganda and South Africa. ”
In addition to its expansion plans, COURE will be adding a 3rd platform to its suite, the OpenBanking platform, in alignment with the CBN’s Open Banking Initiative. The OpenBanking platform offers financial data owners the opportunity to monetize their data by making it available to third-party financial services securely and efficiently via APIs. He noted that they have already partnered with some banks to pilot the solution and are excited about the ease and convenience that customers will enjoy when they use applications that leverage these services. He expressed optimism about the future, noting that they expect great times ahead!
“Our HUB platform is what is called a CPaaS – Communication Platform as a Service. It enables Aggregators and Value-Added Service (VAS) providers in the telecom industry to integrate with the Telcos, then safely and accurately deliver messages between the applications through the Telcos and onward to the end customer and back. Message types include Bulk SMS, USSD, Whatsapp and RCS (Rich Communication Services). It also addresses a number of industry issues and concerns such as the management of Sender IDs and Short codes. HUB is a ready-to-use platform for SMEs to create and manage their services, content, and subscriptions. It is convenient and requires no local installation.”
Debut of Africa’s largest tech and start-up show to welcome 900 companies to explore, discover, and connect to real opportunities in world’s rising digital economy
H.E Dr Ghita Mezzour: “We’re witnessing a historic event, the largest tech networking and business event in the African continent”
Morocco will centre the global tech community’s attention on Africa’s united commitment to advancing the digital economy next week, converging the best minds from governments, businesses, big tech, start-ups, investors and youths to accelerate and catalyse the continent’s ambitious digital transformation journey.
GITEX Africa 2023, now the largest tech and start-up show in the African continent, will make its highly anticipated debut from 31 May-2 June, with the final preparations underway across ten halls and 45,000sqm of exhibition space in a purpose-built super venue at Place Bab Jdid, Bd Al Yarmouk in the Red City of Marrakech. It will welcome 900 big tech companies, government entities, start-ups and participants from more than 100 countries, while attracting tens of thousands of attendees from all over the world.
GITEX Africa is the largest business event launch of any industry in the Middle East and Africa in recent years, and is affiliated with GITEX Global in Dubai, the world’s largest tech and start-up show, rated by global tech executives as the world’s best global tech event.
Held under the High Patronage of His Majesty King Mohammed VI, GITEX Africa is hosted by the Digital Development Agency (ADD), under the authority of the Moroccan Ministry of Digital Transition and Administration Reform.
Addressing media at the show’s official preview press conference today was H.E Dr Ghita Mezzour, Minister of the Moroccan Ministry of Digital Transition and Administration Reform; Sidi Mohammed Drissi Melyani, the General Director of ADD; and Trixie LohMirmand, CEO of KAOUN International, GITEX Africa’s organiser.
In attendance were GITEX Africa’s official institutional partners the ANRT (Moroccan National Telecommunications Regulatory Agency), AMDIE (Moroccan Investment and Export Development Agency), ONMT (Moroccan National Tourist Office), ONDA (National Airports Office), Royal Air Maroc, and ONCF (Moroccan National Railway Office).
“The Kingdom of Morocco is proud to host GITEX Africa under the High Patronage of His Majesty King Mohammed VI, may God assist Him,” said H.E. Dr Mezzour. “We’re witnessing a historic event, the first ever edition of GITEX Africa, and the largest tech networking and learning business event in the African continent.
“GITEX Africa will be an opportunity for Moroccan and African start-ups owners and young programmers to get in touch with regional and global investors and business incubators. An opportunity as well to networking with actors in both public and private sectors.”
Mr. Sidi Mohammed Drissi Melyani, the General Director of ADD, added that hosting GITEX Africa underlines Morocco’s commitment to work alongside the private and public sector to accelerate Africa’s digital infrastructure development while promoting cross-continental e-governance policies that improve digital transparency, openness and process integration: “The Kingdom of Morocco as well as the whole African continent is so honoured to host the first edition of GITEX Africa Morocco, which will take place in Marrakech from May 31st to June 2nd, 2023,” said Mr. Melyani.
“This big event, organised under the high patronage of his Majesty the King Mohammed VI, is an important opportunity to value the efforts deployed by all the Moroccan stakeholders in the field of digital development. It is also a platform of networking between exhibitors, investors, researchers and tech operators around innovative solutions and digital transformation. This first edition will definitely contribute to enhance digital transition in Africa as a future innovation hub, led by its young talents and competitive start-ups.”
Magnifying Africa’s collective digital innovation ambitions and achievements
GITEX Africa’s impressive scale in its debut edition reflects the ambitions of Africa’s digital movement, with cross-continental initiatives such as Smart Africa’s vision to create a single digital market in Africa by 2030 propelling the continent to the forefront of the global digital economy.
“For too long, the world’s second largest continent has been under-stated and overlooked for its profound digital opportunities and aspirations,” commented Ms. LohMirmand, CEO of KAOUN International.
“At GITEX Africa, our mission is to curate an event that will serve the purpose of the African community in accessing business development, investment and learning opportunities. We focus on empowering the new generation of tech and creative talents to augment the culture of entrepreneurship and provide a single occasion that shall bring together the public and private sector leaderships to build tangible meaningful outcomes.”
That GITEX Africa hoisted the sold-out sign fuelling further expansion months before its grand opening is testament to the world’s confidence and optimism in the African digital opportunity, amplified by figures that underline the aspirations of African countries in their quest for digital excellence.
Africa’s vibrant start-up ecosystem also continues to grab headlines with the creation of seven unicorns over the last few years while according to analysts Briter Bridges, African start-ups raised a total of US$5.4 billion across 900-plus deals in 2022.
The influx of global interest will see GITEX Africa 2023 host more than 400 disruptive start-ups from 30 countries, including 200 international award-winning start-ups and 11 unicorns eager to share their achievements and access the promising African innovation hub.
All will have the opportunity to connect with 250 investors from 34 countries with US$200 billion worth of assets under management. As the ultimate start-up incubator and magnet for flourishing VC funds, GITEX Africa will deliver a structured and carefully curated scouting platform for these investors, of which 70 percent are coming from outside of Africa.
Added Ms. LohMirmand: “GITEX integrates Africa strategically into the hyper-connected tech ecosystem across 100 countries. It now firmly plugs Africa into the global entrepreneurial innovation economy boasting of resources imperative for the region to dynamize its digital transformation mission.”
Accelerating the Moroccan digital development strategy
GITEX Africa 2023 will also accentuate the progress of Morocco’s digital development strategy, strengthening its position among the top three African countries with the best ICT infrastructure, and underlining its status as having one of the continent’s most advanced telecommunications markets.
According to analysts IDC, Morocco’s IT market, comprising hardware, software and IT services, is expected to reach a value of US$1.7 billion in 2023, growing at a CAGR of 4.3 percent to reach US$1.9 billion in 2026. In 2023, growth is expected to be driven by enterprise and service provider spending in the North African country as organisations increasingly look to adopt hybrid cloud as a step towards their digital transformation initiatives.
World’s best minds gather at Africa’s most impactful leadership conference agenda
Africa’s most impactful leadership conference programme will meanwhile gather 250-plus speakers from 50 countries to share valuable exchanges and insights with a curious business audience motivated to draw on international experience applied to an African-centric context.
The GITEX Africa Digital Summit will lead ten conference tracks comprising 140-plus hours of mind-stretching content exploring the most pertinent transformational topics advancing Africa’s digital agenda, from generative AI and digital cities, or Fintech and agritech, to healthcare, energy, innovation, sustainable development goals, and a spotlight on the world’s most exciting start-up ecosystem.
GITEX Africa 2023 is open from 11:30am to 6:00pm on 31st May, and from 10:00am to 6:00pm on the 1st and 2nd June. Admission is for trade professionals only with a special invitation for students aged 16 years and older on day three.
In a constantly digitizing world with a lot of breaches and security risks, online protections become imminent and imperative, this has necessitated many organizations to invest heavily on antivirus software, these types of software counter these security breaches. In Nigeria today, almost all the antivirus in the market are foreign with no indigenous antivirus in the market, having seen the level of foreign exchange lost and capital flight on these antivirus software with runs in millions, an indigenous information technology (IT) firm located in Lekki – Ajah axis of Lagos known as TSCO-TJTEK SOFTWARE COMPANY has build the first indigenous software in the country and set to unveil it this month of May. These moves have been lauded by industry watchers and stakeholders as the right move in proper direction.
Speaking on the antivirus solution, Tom Jones, the Chief Executive officer of TSCO-TJTEK SOFTWARE said that “We have been on the Anti-Virus Software development for about 7 years now, and now we have formally incorporated a Company for it TJTEK ANTI VIRUS SOFTWARE MAKERS to separate its affairs and development from our usual software development business. The Nigerian antivirus software market is dominated wholly by foreign products. Ours is to find ways to start changing the narrative and bringing our indigenous solutions to the fore. We have also observed the capital flight that occurs as a result of buying this software, we want to make the desired impact in the market.”
Jones also said that apart from the antivirus solution that TSCO-TJTEK SOFTWARE has made tremendous impact in the education sector of the country by building solutions that will aid many subjects such as law, accounting and others. The company recently partnered with Nigerian Law School management to unbundle legal studies in a simple software and also with Institute of Chartered Accountants of Nigeria (ICAN) to bring accounting, book keeping and other forms of record keeping subjects to speed by making them available in a software. Jones also talked about their deployment in one of the Nigerian foremost universities, University of Lagos to aid students with their lectures.
Jones opined that “We visited UniLag and introduced our Proprietary software for Law Students and it was given an LPO for large supply. We basically want to make learning easier for Nigerian law students that was why we developed such a solution for them and what we have seen the acceptance is encouraging. It has shown that the students are very open to new ways of doing things. The law solutions for students made it easier for students to learn, research their legal reports, case studies etc.”https://tavism.com.ng/
He added on the issue of making accounting easier that “Organizations and Tertiary institutions including Polytechnics down to secondary schools have widely accepted it, as we have the best solutions to easiest way to pass ICAN Exams. We as an IT firm is constantly asking critical questions on how we can improve the lots of the society especially the Nigerian students. the ICAN solution looked at accounting, accountancy and booking keeping as a subject. We made learning these courses easier for students from secondary school where these courses are offered all the way to tertiary institution be it Universities or Polytechnics, we all covered all the areas of accounting to professional level which is ICAN (Institute of Charted Accountants of Nigeria) and the professional body is impressed with this software.”
On Nigerian Law School solution, Jones quipped that “Nigerian Law School CBT Software is a software for those that practice of Law School and Call to Bar Exams in Nigeria. This product is best for Law school students aspiring to pass the Bar part 1 AND THE Bar part 2 exams It is also great for university students studying and preparing to pass the Bar final exams. It is designed to make learning easier for future lawyers.”
The company highlighted other of their solutions from banking software to card solutions. Jones concluded that “Our Banking Software Built for Banks and other financial Institutions are great deal for our clients benefiting from the source as it helps the workflow of their various Organization, records and manages the transactions made by the banks’ customers to their accounts and many other flexible, virtual and secured benefits. Just like our school management software which Save Cost, Saves time of teachers and administrators, Bridge Communication Gap, Human Resource Management, Student life-cycle data, Timetable management, Fee collection, Reports and decision making including Exams Management”
“We have recently registered a new Company TJTEK DIGITAL CARDS SOLUTIONS for Virtual Credit Cards creation to use as private cards for online payments and transactions and
TAP-TO-PAY cards for Supermarkets as Loyalty Cards and Transit Cards for Transportation services. This will impact so much in the eCommerce space and those that make use of the malls. The virtual cards will come very handy for them.”
COURE Technologies CEO Uche Onwudiwe discusses the company’s journey from the USA to Nigeria in a 25-year retrospective interview with Anthony Nwosu. The conversation delves into the evolution of the Nigerian IT ecosystem, as well as COURE’s significant contributions in the areas of Value Added Services, Aggregators, , Fintech, and Public Sector. Onwudiwe also shares insights into the company’s expansion across various African nations.
Coure Tech has always been an IT firm for years, how has the journey been?
COURE Software & Systems Limited (“COURE”) is a Platform Services Provider with a focus on the provision of accurate, secure and relevant data to improve its clients’ business processes and operations. We started out in the US in 1998 at a time when the internet and modern technology, as we know it, was taking off. At that time, we were focused on networking and physical systems integration. Over the years, the shifts in technology and the need to be scalable beyond billing for individual man hours caused us to migrate our technology services first to web and application development, and then to what we currently provide today, which are platforms that leverage standardized and aggregated data to enable and enhance the operational efficiency of our clients. It has been an exciting 25-year journey of change and transformation! Our flagship solutions, ANQ and HUB, have been enabling the telecom, fintech, banking and various other sectors to increase their value and service provision to their customers. Our development teams consist of analysts, web designers, UI/UX experts, programmers, graphic artists and network engineers all of whom have many years of experience in the design, development and support of clean, functional and aesthetically appealing web portals and solutions.
Do you think that the Nigerian IT space is evolving in terms of digitization?
The IT space is constantly evolving with the advancement of digital technology such as cloud computing, AI, IoT, and blockchain etc. Nigeria has not been left out of this. The trend towards digital transformation, automation and artificial intelligence is accelerating, particularly in the wake of the COVID-19 pandemic. In the past, there were a lot of manual processes in business, and while automation was being implemented via IT, the pace was average. The pandemic accelerated digitization in Nigeria and across the world as businesses and people had to survive without close contact. Many businesses were forced to shut down, but for those who were better prepared, their adoption of digital technology and new ways of working became an advantage, and customers embraced online and digital service delivery. The IT industry continues to develop innovative solutions to make life easier for people and to help businesses harness the power of digital technology to improve operations, products, services, and reach new customers.
Can you consider yourself as a fintech firm?
COURE is a platform provider with key partners in the telco, financial, and technology space. Through our platforms, we are able to aggregate various types of data, analyze the data, and create services that provide value to these organizations and generate revenue for them. This makes us an enabler of fintech firms as opposed to being one ourselves.
Your Message Hub is one of a kind, do you think that SMEs can deploy it , if yes, how?
HUB is a ready-to-use platform designed for SMEs to create and manage their services, contents, and subscriptions. The platform allows for hosting, management, and delivery of VAS services to the Aggregators or Operators on behalf of the Service Provider. HUB was specifically built to address some of our local and African peculiarities. HUB is very easy to use for SME’s as there is no local installation required and for most of the services, the clients can login via our web interface to enable management and delivery of their services. In the event the client already has a local system that they want to integrate into HUB, we have some very easy to use API’s which they can integrate into their platforms and be up and running in a very short time. HUB enables them to integrate once and have access to all the Telcos and multiple aggregators based on their preference thus greatly simplifying the onboarding and management of the solution. HUB’s messaging capabilities such as Whatsapp and RCS technologies help SMEs build better relationships with their customers, improve the customer experience, reduce customer support calls, and enhance transaction security. They can also benefit greatly from using bulk SMS and USSD services as part of their marketing and communication strategies. These services offer a cost-effective and efficient way to engage with customers, provide information, and increase sales.
What are the challenges you face in Nigeria?
Given the insecurity challenges and the economic hardship in the country, we have witnessed the loss of talent across many sectors of the economy including the technology sector. This has made it paramount that we adopt an aggressive recruitment and talent retention strategy in a bid to forestall the negative impacts of this trend affecting our business.
Tell us more about your fraud prevention solutions?
Our fraud prevention solution adopts strategies, technologies, and processes to protect individuals, businesses, and organizations from fraudulent activities such as payment fraud, account takeover, and identity theft. Using intelligent algorithms, we check and flag fraudulent transactions before approval. Our algorithm takes into consideration numerous points of data and provides a risk level rating for the transaction, thus minimizing losses, optimizing efficiencies, and protecting customers from fraud. This service helps achieve a faster and more effective fraud detection process leading to reduced financial loss, increased customer retention, protection of brand and reputation, protection of customers’ details, identification of employee misconduct, fake account reduction and account take-over prevention.
Are they only for banks and fintechs?
Our solutions cater to a cross-section of organizations that provide services to end customers. This includes banks, fintechs, lenders, payment services companies, telco service providers, retailers and value-added service providers. Fraud can affect any organization that deals with sensitive data or valuable assets. Many businesses outside of the financial sector invest in fraud prevention solutions to protect themselves against financial losses, maintain customer trust, and avoid legal and financial penalties. The same applies to KYC, Routing and Communication. These are all services that are relevant for organizations that provide services to end consumers.
Do you have a presence in other ECOWAS countries?
Our routing service is present in most African countries including Nigeria, South Africa, Ghana, Kenya, Tanzania, Côte D’Ivoire, Benin, Senegal, Tunisia, Morocco, and Egypt. Our 2023 roll-out plan includes expansion to key regions within the continent with a focus on Ghana, Kenya and South Africa.
How do you do your Data Monetization?
COURE partners with data owners in the telco, banking and payment service sectors to aggregate and centralize data that can be analyzed to extract intelligent insights, and in an automated and real-time manner, provide those insights to service providers for decision-making. This offers data owners the opportunity to monetize their data which would otherwise sit idle. It also enables users to gain secure access to various data related services for enhancement of their business processes. This presents a mutually beneficial business relationship between COURE, a proven platform provider, data owners, and end customers. In providing these insights, COURE is careful to adhere to global data privacy laws and security standards, being an NDPR-certified organization.
How can the Public Sector leverage your solutions?
COURE’s services and solutions are relevant for public sector use. The HUB CPaaS offers an opportunity for such organizations to improve communication with citizens, enhance security, streamline billing, provide real-time transaction notifications, and gain valuable insights through data analytics. The service is currently used by a number of public sector entities including the CBN and the NPHCDA. Again, our Fraud solutions can help the public sector entities protect against fraud and cyber threats. This can be especially important when handling sensitive information, such as personal data or financial information.
What do we expect from you this 2023?
This year 2023, COURE will be commemorating its 25th year of existence. This is a remarkable milestone for us and represents a pivotal point in our journey. We will also be expanding our services to other countries on the continent as well as adding a 3rd platform to our suite, the OpenBank platform. The OpenBank platform offers Financial Data owners the opportunity to monetize their data by making it available to third-parties financial services in a secure, efficient and profitable manner via APIs, and in alignment with the CBN’s Open Banking Initiative. We have already partnered with some banks to pilot the solution and are excited about the ease and convenience that customers will enjoy when they use applications that leverage these APIs. Needless to say, we have great times ahead!
COURE Technologies CEO Uche Onwudiwe
“HUB was specifically built to address some of our local and African peculiarities. HUB is very easy to use for SME’s as there is no local installation required and for most of the services, the clients can login via our web interface to enable management and delivery of their services.”
As an IT firm for years, how has the journey been?
COURE Software & Systems Limited (“COURE”) is a Platform Services Provider with a focus on the provision of accurate, secure and relevant data to improve its clients’ business processes and operations. We started out in the US in 1998 at a time when the internet and modern technology, as we know it, was taking off. At that time, we were focused on networking and physical systems integration. Over the years, the shifts in technology and the need to be scalable beyond billing for individual man hours caused us to migrate our technology services first to web and application development, and then to what we currently provide today, which are platforms that leverage standardized and aggregated data to enable and enhance the operational efficiency of our clients.
It has been an exciting 25-year journey of change and transformation! Our flagship solutions, ANQ and HUB, have been enabling the telecom, fintech, banking and various other sectors to increase their value and service provision to their customers. Our development teams consist of analysts, web designers, UI/UX experts, programmers, graphic artists and network engineers all of whom have many years of experience in the design, development and support of clean, functional and aesthetically appealing web portals and solutions.
Do you think that the Nigerian IT space is evolving in terms of digitization?
The IT space is constantly evolving with the advancement of digital technology such as cloud computing, AI, IoT, and blockchain etc. Nigeria has not been left out of this. The trend towards digital transformation, automation and artificial intelligence is accelerating, particularly in the wake of the COVID-19 pandemic. In the past, there were a lot of manual processes in business, and while automation was being implemented via IT, the pace was average. The pandemic accelerated digitization in Nigeria and across the world as businesses and people had to survive without close contact. Many businesses were forced to shut down, but for those who were better prepared, their adoption of digital technology and new ways of working became an advantage, and customers embraced online and digital service delivery. The IT industry continues to develop innovative solutions to make life easier for people and to help businesses harness the power of digital technology to improve operations, products, services, and reach new customers.
Can you consider yourself as a fintech firm?
COURE is a platform provider with key partners in the telco, financial, and technology space. Through our platforms, we are able to aggregate various types of data, analyze the data, and create services that provide value to these organizations and generate revenue for them. This makes us an enabler of fintech firms as opposed to being one ourselves.
Tell us more about your ANQ and Hub Platform?
Our ANQ (All Number Query) is a lookup platform that provides quick and easy access to information which enables our clients to support their customers in areas such as Fraud prevention, Routing and KYC (know Your Customer) using various number and data sources. Our partnership with data owners and access to large volumes of diversified data along with our processing capacity and intelligent algorithms enables us to apply real-time analytics on data that is being searched against and provide information to businesses to aid their decision-making. ANQ also helps our data owners monetize their otherwise idle data. Our HUB Platform is what is called a CPaaS – Communication Platform as a Service. It was built to enable aggregators and VAS providers in the telecom industry to integrate with the Telcos then safely and accurately deliver messages between the applications through the Telcos and onward to the end customer and back. Message types include Bulk SMS, USSD, Whatsapp and RCS (Rich Communication Services). It also addresses a number of industry issues and concerns such as the management of sender ID’s and Short codes. Built with industry regulations in mind, HUB is the ideal platform for any Service Provider with great service ideas capable of meeting the needs of its subscribers.
Your Message Hub is one of a kind, do you think that SMEs can deploy it , if yes, how?
HUB is a ready-to-use platform designed for SMEs to create and manage their services, contents, and subscriptions. The platform allows for hosting, management, and delivery of VAS services to the Aggregators or Operators on behalf of the Service Provider. HUB was specifically built to address some of our local and African peculiarities. HUB is very easy to use for SME’s as there is no local installation required and for most of the services, the clients can login via our web interface to enable management and delivery of their services. In the event the client already has a local system that they want to integrate into HUB, we have some very easy to use API’s which they can integrate into their platforms and be up and running in a very short time. HUB enables them to integrate once and have access to all the Telcos and multiple aggregators based on their preference thus greatly simplifying the onboarding and management of the solution. HUB’s messaging capabilities such as Whatsapp and RCS technologies help SMEs build better relationships with their customers, improve the customer experience, reduce customer support calls, and enhance transaction security. They can also benefit greatly from using bulk SMS and USSD services as part of their marketing and communication strategies. These services offer a cost-effective and efficient way to engage with customers, provide information, and increase sales.
What are the challenges you face in Nigeria?
Given the insecurity challenges and the economic hardship in the country, we have witnessed the loss of talent across many sectors of the economy including the technology sector. This has made it paramount that we adopt an aggressive recruitment and talent retention strategy in a bid to forestall the negative impacts of this trend affecting our business.
Tell us more about your fraud prevention solutions?
Our fraud prevention solution adopts strategies, technologies, and processes to protect individuals, businesses, and organizations from fraudulent activities such as payment fraud, account takeover, and identity theft. Using intelligent algorithms, we check and flag fraudulent transactions before approval. Our algorithm takes into consideration numerous points of data and provides a risk level rating for the transaction, thus minimizing losses, optimizing efficiencies, and protecting customers from fraud. This service helps achieve a faster and more effective fraud detection process leading to reduced financial loss, increased customer retention, protection of brand and reputation, protection of customers’ details, identification of employee misconduct, fake account reduction and account take-over prevention.
Are they only for banks and fintechs?
Our solutions cater to a cross-section of organizations that provide services to end customers. This includes banks, fintechs, lenders, payment services companies, telco service providers, retailers and value-added service providers. Fraud can affect any organization that deals with sensitive data or valuable assets. Many businesses outside of the financial sector invest in fraud prevention solutions to protect themselves against financial losses, maintain customer trust, and avoid legal and financial penalties. The same applies to KYC, Routing and Communication. These are all services that are relevant for organizations that provide services to end consumers.
Do you have presence in other ECOWAS countries?
Our routing service is present in most African countries including Nigeria, South Africa, Ghana, Kenya, Tanzania, Cote D’Ivoire, Benin, Senegal, Tunisia, Morocco, and Egypt. Our 2023 roll-out plan includes expansion to key regions within the continent with a focus on Ghana, Kenya and South Africa.
How do you do your Data Monetization?
COURE partners with data owners in the telco, banking and payment service sectors to aggregate and centralize data that can be analyzed to extract intelligent insights, and in an automated and real-time manner, provide those insights to service providers for decision-making. This offers data owners the opportunity to monetize their data which would otherwise sit idle. It also enables users to gain secure access to various data related services for enhancement of their business processes. This presents a mutually beneficial business relationship between COURE, a proven platform provider, data owners, and end customers. In providing these insights, COURE is careful to adhere to global data privacy laws and security standards, being an NDPR-certified organization.
What do we expect from you this 2023?
This year 2023, COURE will be commemorating its 25th year of existence. This is a remarkable milestone for us and represents a pivotal point in our journey. We will also be expanding our services to other countries on the continent as well as adding a 3rd platform to our suite, the OpenBank platform. The OpenBank platform offers Financial Data owners the opportunity to monetize their data by making it available to third-parties financial services in a secure, efficient and profitable manner via APIs, and in alignment with the CBN’s Open Banking Initiative. We have already partnered with some banks to pilot the solution and are excited about the ease and convenience that customers will enjoy when they use applications that leverage these APIs. Needless to say, we have great times ahead!
“Given the insecurity challenges and the economic hardship in the country, we have witnessed the loss of talent across many sectors of the economy including the technology sector. This has made it paramount that we adopt an aggressive recruitment and talent retention strategy in a bid to forestall the negative impacts of this trend affecting our business.”
The Director-General National Information Technology Development Agency (NITDA), Kashifu Inuwa CCIE, has expressed readiness to collaborate with Emerging Tech Africa, led by Atayero of Aramoko Kingdom in Ekiti State and Chairman of Emerging Tech Africa Communication Limited, HRH, Oba (Dr). Olusegun Aderemi Idowu (JP), on critical areas of the Digital Economy.
Inuwa stated this while receiving the Chairman, Emerging Tech Africa Communication Limited; Lead Team of JKL CAPITAL, Mr. J. Shi and Ms. Nidaa Sabbagh on courtesy visit where issues of mutual understanding and benefits in the areas of digital economy, job and wealth creation were discussed.
While emphasising importance of the agency’s National Digital Skills Strategy, which aims to achieve 95% digital literacy among Nigerians by 2030, as well as the adoption of emerging technologies like Artificial Intelligence to tap into the $13 trillion global market by 2030, the DG outlined NITDA’s achievements and discussed the prospects and challenges of Nigeria’s IT ecosystem.
“We have some flagship initiatives and projects which we believe can help us capture value; one of such is building and hatching talents because according to research, by 2030, there is going to be 85million talent deficit globally, making talent a huge industry itself”.
“So, we are working towards positioning Nigeria as the world’s talent factory, exporting our brains, providing talented workforce to render services for your establishments, Nigeria, the continent and the world”, the DG expounded.
Inuwa reiterated the need for continuous collaborations for higher productivity, according to him “no one can whistle a symphony; it takes a whole orchestra to play it. We believe in teamwork and we know there are things we can do as a government that you cannot do as a private sector and vice versa, but together, nothing is impossible. That’s why we are always willing to forge a common front of working together to co-create the ecosystem and prosperity for all”.
The DG also took his guests through other key focus areas of the Agency, including the implementation of NITDA Start-up Act, completion of the National Digital Innovation and Entrepreneurship Centre, National Data Strategy Implementation, Adoption of Blockchain Technology, Implementation of the National Digital Skills Strategy amongst others.
“As we look forward to our collaboration and the possible future, NITDA remains committed to sustaining the momentum, leveraging emerging technologies, developing policies and strategies that promote digital transformation, and creating an enabling environment for our startups and entrepreneurs to thrive”, the DG affirmed
The leader of the delegation, Atayero of Aramoko Kingdom, Ekiti State and Chairman, Emerging Tech Africa Communication Limited, HRH, Oba (Dr). Olusegun Aderemi Idowu (JP) who was in company of his team members; Lead Team of JKL CAPITAL, Mr. J. Shi and Ms. Nidaa Sabbagh said the courtesy visit was to seek possible partnerships and discuss issues of mutual understanding and benefits in areas of digital economy, job and wealth creation.
“We are an indigenous company doing excellently in the area of information technology, digital economy, job and wealth creation. Our partners, JKL CAPITAL in London are in Nigeria to partner with our company ETECHA COMMUNICATION LIMITED to do business, and we wish your Ministry could be part of government agencies that will warehouse some of the business interest to attract mutual interest and benefits for Nigeria”, Dr Idowu said.
While enumerating some of the areas of interest in Nigeria the company wishes to invest in include Blockchain Technology, Gaming business opportunities, TV broadcasting resources, and Payment Solution Service, Dr Idowu was hopeful that the collaboration will be beneficial to all parties involved.
Designed to cater to the African market, Keymaster VAULT is a secure, NFC-based hardware wallet that stores private keys offline, offering an affordable and user-friendly alternative to expensive and complicated traditional hardware wallets.
Leveraging the simplicity of Near Field Communication (NFC) technology, the Keymaster VAULT allows users to securely access their digital assets by merely tapping their NFC-enabled devices.
This eliminates complex installation processes, making the wallet an ideal choice for both cryptocurrency novices and experienced users. With offline storage of private keys, the wallet significantly reduces the risk of hacks and malware attacks associated with online storage.
“We wanted to create a wallet that combines the highest level of security with ease of use, making cryptocurrency storage accessible to a broader audience in Africa,” said Chidera Anyanebechi, General Manager of Hyperspace Technologies.
“The Keymaster VAULT not only provides an affordable solution but also offers enterprise clients the ability to leverage blockchain-based identity and access management, which we believe will be a game-changer in the industry”, Anyanebechi explained.
The Keymaster VAULT’s advanced encryption technology ensures the utmost security for users’ digital assets. Its compact design and portability make it a convenient choice for individuals and businesses looking to store their digital assets securely without breaking the bank or dealing with complicated setups.
“The African market has long been underserved when it comes to secure and affordable hardware wallet solutions,” added Anyanebechi. “We are excited to bring the Keymaster VAULT to our customers and empower them with a hardware wallet that not only protects their digital assets but also opens doors for innovative applications in blockchain-based identity and access management.”
The Keymaster VAULT is now available for purchase at https://keymaster.ng, giving cryptocurrency enthusiasts and enterprise clients across Africa a secure, affordable, and user-friendly hardware wallet solution
It is now possible to use a publicly available artificial chatbot to generate a complete infection chain, possibly beginning with a spear phishing email written in entirely convincing, human-like language and eventually causing a complete takeover of a company’s computer systems.
Researchers at Checkpoint recently created such a plausible phishing email as a test. They only used ChatGPT, a chatbot that uses deep learning techniques to generate text and conversations that can convince basically anyone that it was written by a real person.
In reality, there are many potential cybersecurity dangers wrapped up in this impressive technology developed by OpenAI and currently available online for free.
Here are just a few of them:
Social engineering: ChatGPT’s powerful language model can be used to generate realistic and convincing phishing messages, making it easier for attackers to trick victims into providing sensitive information or downloading malware.
Scamming: The generation of text through ChatGPT’s language models allows attackers to create fake ads, listings and many other forms of scamming material.
Impersonation: ChatGPT can be used to create a convincing digital copy of an individual’s writing style, allowing attackers to impersonate their target in a text-based setting, such as in an email or text message.
Automation of attacks: ChatGPT can also be used to automate the creation of malicious messages and phishing emails making it possible for attackers to launch large-scale attacks more efficiently.
Spamming: The language model can be fine-tuned to produce large amounts of low-quality content, which can be used in a variety of contexts, including as spam comments on social media or in spam email campaigns.
All five points above are legit threats to companies and all internet users that will only become more prevalent as OpenAI continues to train its model.
If the list managed to convince you, the technology succeeded in its purpose, although in this instance not with malicious intent.
All the text from points one to five was actually written by ChatGPT with minimal tweaks for clarity. The tool is so powerful it can convincingly identify and word its own inherent dangers to cybersecurity.
However, there are mitigating steps individuals and companies can take, including new-school security awareness training. Cybercrime is moving at light speed. A few years ago, cybercriminals used to specialise in identity theft, but now they take over your organisation’s network, hack into your bank accounts, and steal tens or hundreds of thousands of rands.
An intelligent platform like ChatGPT may have been created with the best intentions, but it only adds to the burden on internet users to always stay vigilant, trust their instincts and always know the risks involved in clicking on any link or opening an attachment.
