Technology
Banks across Africa Turn to IBM Hybrid Cloud and AI Solutions to Accelerate Digital Innovation
IBM Hybrid Cloud General Manager, Alan Peacock and IBM General Manager for IBM North, East and West AfricaAngela Kyerematen-Jimoh (Image: Supplied)
IBM (NYSE: IBM) today announced that major financial institutions across Africa have selected hybrid cloud and AI capabilities from IBM to unlock digital innovation and continue their work to develop digital-first solutions, ultimately broadening access to financial services on the continent.
COVID-19 continues to accelerate the already rapid changes that were happening across the financial services sector in Africa, fast-tracking the adoption of digital technologies to boost financial inclusion. With over 475 million Africans expected to be mobile internet users by 2025 GSMA –The mobile economy sub-Saharan Africa 2020, digital and mobile play a critical role in facilitating the delivery of digital financial services to consumers who transact on their mobile phones. As banks focus their efforts on open innovation, security and high-value services, hybrid cloud solutions have become increasingly important to deliver seamless and secure digital banking experiences.
“Enterprises, especially those in highly regulated industries like financial services, face unique challenges when it comes to balancing innovation and regulatory compliance,” says Alan Peacock, General Manager, IBM Cloud. “For decades, IBM has been fueling the transformation of the financial services industry, bringing IBM’s trusted industry experience and leadership in security and data privacy to help banks modernize, transform operations and drive innovation.”
According to IBM’s COVID-19 future of business study, more than 59% of the organisations that participated said that the pandemic accelerated digital transformation, and more than 75% of responding executives indicated they expect changed customer behaviour to continue after COVID-19. As companies in the financial services sector are speeding up transformation, IBM hybrid cloud and AI solutions are supporting their drive to accelerate digitalisation in different parts of the continent.
“In the past year we have seen banks navigate changes brought on by a growing preference for digital and mobile solutions, increasing smartphone penetration and the demand for convenience, innovation, and simplicity from today’s modern consumer, says Angela Kyerematen-Jimoh, Regional, General Manager for IBM North, East and West Africa. “As banks across the continent take advantage of the opportunity to provide digital financial services which boost financial inclusion, IBM is working with Africa’s leading financial groups to deliver intelligent, cloud-based, digital-first innovation through IBM’s hybrid cloud and AI capabilities.”
Ecobank, the pan-African banking conglomerate, with banking operations in 33 African countries, has adopted a hybrid cloud approach to extend its reach to millions across Africa. Using IBM Cloud, Ecobank migrated their flagship mobile banking application to leverage the on-demand capacity of resources that can support sudden spikes in traffic on its mobile banking services. Ecobank also has access to other IBM cloud services that can be used to develop more innovative, digital-first solutions to enhance their own client experience.
With over 12 million customers on its flagship mobile application, Ecobank is on an accelerated digital banking transformation journey and is set out to expand its digital offerings and grow the 30 million digital transactions it already processes on its platforms. As part of this journey, the Pan-African banking conglomerate has built scalable business solutions which allow for ease of integration with third-party providers using their open digital banking platform for a growing customer base.
Pan-African bank, Nedbank has set out to deliver superior digital experiences to customers. To achieve this, the bank is modernising its core banking applications with a hybrid cloud strategy and has partnered with IBM to help bring digital products and services to life.
To take advantage of the flexibility and agility offered by modern cloud technologies on this digitalisation journey, Nedbank explored a hybrid multi cloud approach, adopted the IBM Garage methodology to implement IBM Cloud Pak for Integration. Through IBM Garage, the bank was able to deep dive and explore fresh solutions and in a week achieved what would have taken them months. Faced with the need to integrate complex legacy systems, Nedbank turned to IBM Cloud Pak for Integration to help build a simplified and standardised integration approach to their cloud strategy. This enables Nedbank to shift their legacy applications into the cloud and integrate with other cloud-based applications they are consuming as they modernise and position for future innovation.
Attijariwafa Bank, the Pan African Banking and Financial Group, has adopted IBM hybrid cloud solutions software to advance the digitisation of its banking operations, and quickly bring new digital services to its customers, all in a secure and flexible environment. Using IBM Cloud Paks that are built on Red Hat OpenShift, the leading bank will streamline and better integrate front-and back-office processes and to modernise business and IT operations.
By deploying IBM Cloud Paks, Attijariwafa bank will modernise and manage its core banking applications like its corporate banking application, on a secure, integrated and easily scalable environment. This will allow a rich and simple customer interaction while decreasing the time to bring new offerings to market. It will also enable the banks’ employees to focus their effort and time on serving their customers better.
This collaboration with IBM supports the digital transformation strategy of the bank and facilitates a full modernisation of the bank’s operations in an open, hybrid cloud environment.
United Bank for Africa Plc (UBA), Africa’s global bank operating in 23 countries globally and with headquarters in Nigeria, has set a goal to grow its transaction volume significantly over the next few years and to deepen retail market penetration. To achieve this, they would be required to attract the unbanked, acquire new customers through digital banking and retain existing customers by adopting a “No Transaction Must Fail (NTMF)” initiative.
Using IBM POWER9-based servers, Flash system storage and IBM PowerVC (Power system virtualization & cloud management), UBA set up a scalable, private cloud environment that is cost-effective taking the first step towards embracing a hybrid cloud model.
Customers’ needs are evolving as they seek banking services across channels and expect personalization. Co-operative Bank of Kenya turned to IBM to modernize their core banking platform and reach their customers on different channels including mobile and online while offering customized services driven by insights. For this, they required a technology that would also empower their employees who work across teams to simplify processes, optimize customer data, while also achieving goals like reducing infrastructure and maintenance costs. With IBM Power and FlashStorage solutions, they now derive improved insights on customer data, faster query resolutions, quicker time-to-market on new services across channels – all backed by high available, scalable, cloud-and AI-ready technology.
Banco Mais, a leading bank in Mozambique, turned to IBM to help streamline its business processes and reduce turnaround times for customer-facing services. In the face of a growing competitive market locally, Banco Mais needed to develop financial service products faster to retain and gain market share.
Banco Mais implemented IBM Business Process Manager on Cloud service and was able to start projects quickly and deploy process application solutions without the need to build the IT infrastructure. By turning to this IBM Cloud solution, they could develop, test, run and monitor their business processes at a fraction of the time it would otherwise have taken. As a result, Banco Mais reduced turnaround time for loans by 60% and decreased the time it took to implement services that took 3 to 4 months by 85% to improve customer experiences.
Earlier this year, IBM announced the general availability of the industry’s first financial services-ready cloud platform, IBM Cloud for Financial Services, as well IBM Cloud Satellite. First revealed in 2019, the IBM Cloud for Financial Services is designed to help reduce risk for financial institutions, their partners and FinTechs, and innovate quickly with built-in controls that are adhered to by the entire ecosystem. IBM Cloud Satellite brings a secured, unifying layer of cloud services for clients across environments, regardless of where their data resides, delivering security, data privacy, interoperability and open standards found in hybrid cloud environments.
LG Electronics (LG) has made significant strides in the global market with its innovative brand strategies, earning its place as a top global brand.
On October 10, LG was ranked 97th with a brand value of approximately USD 6.5 billion in the Best Global Brands 2024 report by global brand consulting firm Interbrand.
Interbrand’s evaluation of the Best Global Brands assesses brand value through a comprehensive analysis of a company’s financial performance, role of brand and brand strength. Factors such as direction, engagement and relevance are considered. As a pioneer in the industry, Interbrand’s ISO-certified evaluation criteria are widely regarded as the most reliable methodology in branding and marketing.
LG’s brand value has surged, reflecting significant improvements in both business and brand competitiveness compared to the previous year. LG’s brand value increased by a substantial 38.7 percent year-over-year, receiving high scores in the categories of role of brand and brand strength.
Interbrand attributes this positive assessment to LG’s clear vision as a Smart Life Solution Company and its sustained growth through the exploration of new opportunities. The company has also adapted its brand strategies to ensure consistent customer engagement across diverse regions and generations, utilizing communication methods that resonate with audiences both online and offline.
In July of last year, LG unveiled its vision to evolve into a “Smart Life Solution Company,” enhancing customer experiences across various environments, including homes, commercial spaces, mobility and virtual realms. Since embarking on its transformation, LG’s brand value has skyrocketed. From approximately USD 3.1 billion in 2022, it has more than doubled to about USD 6.5 billion in 2024.
Interbrand has also praised LG’s “Brand Reinvent” initiative, which aims to establish LG as a youthful and dynamic brand that resonates with customers across generations and regions.
To achieve this, LG has unified its brand message under the brand promise of “Life’s Good,” ensuring it is embraced by all organizations globally and integrated into every customer touch point of brand experience. This includes redefining its brand identity and visual expression. “Life’s Good” encapsulates the brand’s mission to help everyone savor life’s precious moments through its products, services and communications. In the digital realm, the brand symbol “Face of the Future” engages customers with a friendly smile and wink, fostering a sense of connection through various digital expressions.
In addition, LG is launching brand campaigns and pop-up events that invite future customers, particularly Generation Z, to engage both online and offline.
The global campaign “Optimism your feed” aims to spread positivity through online algorithms, encouraging a better life with an optimistic outlook. This initiative garnered significant attention, amassing over 1.8 billion views within two months of its launch on platforms like YouTube and TikTok.
Moreover, LG is going to keep enhancing its engagement with Generation Z by creating offline customer experience spaces that reflect young customers’ interests, such as lifestyle, games and music.
LG has previously been recognized as one of the top 100 global brands for three consecutive years from 2005 to 2007.
“We are transforming from a leading home appliance and consumer electronics company into a Smart Life Solution Company. As part of this transformation, we’ve initiated our brand reinvention based on our long-standing promise, ‘Life’s Good,'” said William Cho, CEO of LG Electronics. “At this historical moment of business transformation, we are proud to be recognized as one of the top 100 global brands, a testament to our strong brand presence and growth potential.”
Technology
LG WashTower: A high-performance, space-saving laundry solution designed for today’s urban households
As global demand grows for sustainable living, energy efficiency, and minimalist design, companies are reshaping their product offerings to stay competitive and meet consumer expectations. At the forefront of this shift in the home appliance market is LG Electronics with its cutting-edge WashTower – a high-performance, space-saving laundry solution designed for today’s urban households.
Boasting advanced features, large capacities, and innovative technology, the WashTower is more than just a washer-dryer combo – it’s a game changer for those seeking efficiency, smart connectivity, and excellent cleaning performance.
Ideal for compact spaces, the LG WashTower’s slim, vertical design fits seamlessly into small laundry rooms or closets without sacrificing performance. Standing at 1655mm tall and 600mm wide, it offers ample capacity—13kg in the washer and 10kg in the dryer – perfect for large loads like bedding or towels, all while saving valuable floor space.
The 2024 LG WashTower™ is a revolutionary solution that aligns perfectly with Nigeria’s vision for modern, sustainable living,” said Oktae Kim, Product Director, Home Appliance Division, LG Electronics Nigeria. “Its space-saving design and advanced features cater to the unique needs of our customers in the country, setting a new benchmark for laundry care.”
Unlike traditional stacked units with controls in hard-to-reach places, the LG WashTower™ introduces an all-in-one control panel designed to simplify laundry care. With the TurboWash 360, DUAL Inverter Heat Pump™ Dryer, Auto Cleaning Condenser, and LG ThinQ™ connectivity, the WashTower™ enhances functionality and convenience, meeting the demands of modern, fast-paced lifestyles.
Some of its most impressive features include:
Built-in Intelligence Takes Out the Guesswork
When it comes to doing laundry, one out of two consumers default to the Normal Cycle on their washers and dryers because they simply don’t know which to choose. LG WashTower takes out the guesswork with built-in intelligence that uses sensors to detect fabric texture and load size, and then automatically selects the right wash motions, temperatures, and more for precision fabric care.
And it gets smarter: WashTower will even learn your preferred settings. Simply activate Smart Learner in the LG ThinQ® app, and it will remember your ideal wash temperature, spin speed, or dry level. With Smart Pairing™, the washer can even tell the dryer the right compatible drying cycle, making LG WashTower the ultimate laundry hack.
Help Remove Allergens in Fabrics
LG washers are the industry’s first to be CERTIFIED asthma & allergy friendly® by the Asthma and Allergy Foundation of America. The Allergens™ wash cycle goes beyond everyday cleaning, using the gentle power of steam to remove common household allergens in fabrics by more than 95 percent. In addition, LG TurboSteam™ technology in the dryer helps sanitize and refresh clothes in between washes as well as children’s toys, decorative pillows and more.
Exceptional Cleaning and Drying Performance
With steam function in the washer and heat pump in the dryer, the WashTower effectively sanitizes clothes and removes wrinkles, which is a boon for those with allergies or sensitive skin. Its durable, never-rust stainless steel drum ensures long-lasting reliability, and the absence of an agitator means it’s gentle on delicate fabrics. The dryer starts to preheat before the end of washing, so drying takes less time. With the Dual Inverter Heat Pump™, an energy-saving way to dry, the dual cylinders allow for faster drying and energy saving.
Laundry Made Better – for You and the Planet
Designed with energy efficiency in mind, the LG WashTower includes energy monitoring capabilities, helping consumers save money while helping the planet. ENERGY STAR certified washers and dryers use 25 percent less energy and 33 percent less water than traditional models.
Verdict: A Smart, Stylish Choice
The LG WashTower stands as a top contender in the world of washer-dryer combos, offering a perfect blend of technology, performance, and space-saving design. With no drawbacks, the WashTower’s overall functionality, energy efficiency, and convenience make it a strong choice for families and individuals alike.
If you’re looking for a washer-dryer combo that combines smart technology with stylish design, the LG Wash Tower is a reliable, high-performing option.
The LG WashTower™ strengthens LG’s position as a leading innovator in the home appliance sector. With its cutting-edge technology and user-friendly interface demonstrates LG’s dedication to shaping the future of home appliances. It’s more than just a product – it’s a testament to LG’s vision of bringing convenience, efficiency, and sustainability into every home.
For more information or to purchase the LG WashTower, visit https://www.lg.com/africa/washing-machines/lg-wt1310rh
The launch of the LG InstaView refrigerator introduced a new era in home refrigeration, combining advanced technology, exceptional energy efficiency, and unmatched convenience to transform how households interact with their appliances. The LG InstaView Door-in-Door™ Refrigerator does more than just keep food fresh. It’s a perfect mix of modern technology and everyday usefulness, taking cooking to a whole new level of sophistication and ease.
“At the core of the LG InstaView Refrigerator is the Inverter Linear Compressor, a ground-breaking technology that delivers remarkable energy efficiency,” says Oktae Kim, Product Director, Home Appliance Division, LG Electronics Nigeria. By adapting its cooling power to the refrigerator’s needs, this compressor minimizes power consumption, helping reduce energy bills while also contributing to a quieter kitchen. For long-term peace of mind, LG offers a 10-year warranty on the compressor, reinforcing its durability and reliability.
“One of the standout features of this fridge is the InstaView Door-in-Door™ technology. With just two knocks on the sleek glass panel, you can see inside the fridge without opening the door, helping preserve cold air and keeping your food fresher for longer. This not only adds a touch of modern elegance but also helps reduce energy consumption by limiting unnecessary door openings” he noted.
Some other key features in the LG InstaView Door-in-Door™ Refrigerator include;
A New Level of Convenience: Door-in-Door™ Access
The Door-in-Door™ compartment offers even greater convenience by allowing easy access to frequently used items like drinks and snacks. Instead of rummaging through the entire fridge, you can grab your essentials quickly and effortlessly. This feature also limits cold air loss, making it both a time-saver and an energy-efficient solution for busy households.
Purified Hydration: UVnano® Water Dispenser
Staying hydrated has never been more convenient or hygienic. The UVnano® water dispenser uses UV light to eliminate up to 99.999% of bacteria from the water outlet, ensuring that every sip is clean and safe. The self-cleaning cycle can be activated automatically or manually, making this feature both functional and reassuring for users who prioritize health.
Hygiene Fresh+™: A Breath of Fresh Air
Maintaining an odour-free refrigerator has never been easier thanks to Hygiene Fresh+™ technology. This system actively removes bacteria and unpleasant smells, circulating clean air throughout the fridge. With a 99.999% bacteria removal rate, your food remains fresh and healthy, while the built-in deodorization feature ensures that strong odour, like leftovers, never linger.
Even Cooling Every Time: DoorCooling+™ Technology
No more worrying about uneven cooling inside your fridge. The DoorCooling+™ feature ensures that every inch of the refrigerator is consistently cooled by placing air vents at the front of the appliance. This technology helps food stay fresh and evenly chilled, even in the door compartments, enhancing the quality and shelf life of your groceries.
Smart Control with ThinQ™ Technology
In the age of smart homes, LG takes convenience one step further with ThinQ™ technology. This feature allows users to control and monitor the refrigerator from their smartphones, whether at home or on the go. With just a few taps, you can adjust the temperature, activate Hygiene Fresh+™, or even diagnose potential issues, making maintenance and operation effortless.
Proven Benefits: Energy Savings, Convenience, and Hygiene
When it comes to pros, the LG InstaView Refrigerator excels in several areas. Its energy efficiency through the Smart Inverter Compressor and InstaView technology helps reduce environmental impact while cutting down on household energy bills. The convenience provided by the Door-in-Door™ feature, combined with the peace of mind from UVnano® and Hygiene Fresh+™ technologies, ensures that families have access to fresh, clean, and organized food storage.
Verdict
The LG InstaView refrigerator is a perfect blend of advanced technology, innovative design, and health-conscious features. From linear cooling that keeps food fresh to the Hygiene Fresh+ filtration system that ensures a clean storage environment, this fridge has everything you need for modern food preservation. Add to that the convenience of the Knock-Knock feature and the health benefits of UVnano, you have a refrigerator that truly stands out.
If you’re looking for a premium appliance that delivers freshness, hygiene, and style, the LG InstaView refrigerator is a worthy investment.
The LG InstaView Door-in-Door™ Refrigerator is available across Fouani showrooms and Dealer stores Nationwide. It’s a must-have for modern kitchens thanks to its many useful features.
For more information about the LG InstaView Refrigerator, visit https://www.lg.com/africa/instaview-door-in-door-refrigerators
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