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Carbon, AppZone Partner Open Banking Nigeria, to extend the Frontiers of Innovation

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Chijioke Dozie, OneFi co-founder and CEO. Pic: GuardianNG

LAGOS, NIGERIA. 3 September 2019: To achieve improved customer-centric digital services increased consumer control of data and unprecedented levels of innovation, Carbon, Nigeria’s largest alternate digital lender and AppZone, foremost home-grown software solutions provider have collaborated with Open Banking Nigeria, towards the attainment of non-partisan and non-financial Application Programming Interface (API) standards for financial services in Nigeria.

This revelation was made recently as the two top financial technology (fintech) players respectively announced their collaboration with non-profit Open Banking Nigeria.

Carbon, formerly PayLater, and AppZone join other industry players like Paystack, Flutterwave, Interswitch, Ernest & Young, Fidelity Bank, Global Accelerex, TeamApt, PwC, and Sterling Bank who have partnered with Open Banking Nigeria.

The collaboration would, among others, further advance ongoing efforts by various notable financial industry stakeholders in Nigeria for the maximisation of the rapid increase in digital and mobile payments, with the ultimate objective of the meeting the ever-dynamic yearnings of consumers for flexibility and convenience.

Carbon and AppZone would actively participate in diverse phases of the development of common API standards for Nigeria, testing the APIs for certification, and stimulating the adoption of Open Banking standards across the country.

“At Carbon, we know that data is more important than oil. We also understand that open banking presents a tremendous opportunity to unlock financial access for millions of consumers and has the potential of transforming the financial services landscape, not only for banks and fintechs but for everyone across the ecosystem,” said Chijioke Dozie, the Co-founder and Chief Executive Officer of  OneFi, the parent company of Carbon.

“It follows our innovative leanings as a brand committed to providing credit to the financially under-served and excluded individuals around Africa. We believe that, with Open Banking, we would be able to extend consumer credit to the 40 million unique bank customers across the nation.”

Speaking on the partnership with Open Banking Nigeria, Obi Emetarom, Chief Executive Officer, AppZone said: “We find open banking critical to the future, especially as we support over 300 financial institutions on BankOne, our banking-as-a-service platform.”

Also Read Black Space App CEO, April Jefferson on entrepreneurship and connecting black travelers to their culture

“Our partnership with Open Banking Nigeria also comes as a result of our understanding that in our fast-rising digital world, the use of standard APIs is crucial to empower verified third party players to securely leverage technology. Moreso, the adoption of standardised APIs is known to cut cost, reduce connectivity complications and improve turnaround time.”

This fintech-Open Banking Nigeria collaboration, according to Ope Adeoye of Open Banking Nigeria, would “enable further innovation in our financial services industry where the lack of common API standards currently constitutes a barrier to innovation, especially in the areas of digital payments expansion and financial inclusion.”

Appzone is a proudly Nigerian firm that provides software solutions for the financial services industry. Supporting and accelerating growth in the adoption of banking services across the continent, AppZone expands the scope and competitiveness of financial institutions by delivering disruptive innovation on agile technology using best practices.

Launched when lending with no collateral or documentation or to non-salary earners was inconceivable, Carbon raised the bar and pioneered a new phase of consumer lending in Nigeria, becoming the country’s first digital lender. The firm has continued to transform lending services in Nigeria and across Africa.

Open Banking Nigeria partners with stakeholders across Nigeria’s financial services industry to define an open and non-partisan set of APIs for financial services in Nigeria. 

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4 Essential Points To Consider Before Buying a Power Bank

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Power bank render (image: belkin), Article: John Neesham

Smartphones have emerged as an indispensable part of our lives. From the instant, we awaken we’re maximum probably to be using our smartphones most of the day. We need to either speak with other human beings or use it as a form of enjoyment through smartphones. You need to buy the best power bank which will help in your bad conditions where no charger can help you.

All these elements cause your battery to run low. Which is one of the fundamental motives why the best power bank exists. in recent times. While deciding to own an electricity financial institution you’ll find out that there are numerous alternatives on the market. How do you choose the right best portable power bank? You should consider the following listed reasons before buying a portable charger. The best power bank is one of the most beneficial devices nowadays.

Whenever you spot your cellphone or your Nintendo transfer about to die, plug it into a power financial institution. And it’ll start charging immediately. That stated, shopping for a strong financial institution isn’t that easy as it appears.  When you have purchased one and aren’t satisfied with it. We consider you could have neglected some crucial elements.

At the same time as buying an energy bank, you ought to don’t forget factors like the brand call, customer support. And the actual capability of the tool, among many different things.

  1. Portability

Whilst the portable charger is actually too big to be installed in your pocket or too heavy to hold around, may you be willing to apply it anymore? If you continually convey the transportable charger with you wherever you cross. You ought to not forget a light energy best portable power bank with a graceful design.

  1. The Capacity of The Power Bank

How frequently might you want to rate your digital devices without charging your electricity financial institution? that could be a query that the capability of the strongest financial institution can tell you. Every other critical question is, for what tool you’ll use your strong financial institution? A pc needs more energy than a phone. A phone can be charged with an electricity financial institution of 3.350 mAh however a pc wishes more electricity.  In need of a laptop energy bank? Use an energy bank with a capacity of 30.000 mAh or better. 

  1. Price and Quality

If you are searching for the best-power financial institution that suits your wishes. You have to look in addition to just the photos. check the specs and determine what specs are crucial for your usage of the strongest financial institution. Occasionally a less expensive model isn’t matching your desires. And the reasonably-priced energy bank may not last as long as you want.

Moreover, another cause to take a good look at the price exceptional ratio is the overload. A few reasonably-priced strength banks can overload and damage your electronic devices. All of our strength banks are tested and meet all ECU safety needs.

  1. Usage of The Power Bank

An energy financial institution may be used for greater than just one cause. A student can use an electricity financial institution inside the bus to school when there is no socket available. A climber can use the best portable power bank to use his smartphone when he needs to send an emergency signal. Or a survival specialist can use an outdoor power bank when a storm is raging over him.

 

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African fintech aYo looks to data to drive growth

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African fintech aYo Holdings Group CEO, Marius Botha (Image: Supplied)

African fintech aYo Holdings is transforming its technology back end and data management approach as it gears up to drive greater scale, better customer experience and faster access to markets across the African continent in the coming years.

The company already has more than 15 million customers using its microinsurance products across Uganda, Ghana, Zambia and Côte d’Ivoire, and Group CEO Marius Botha says its vision is to grow into the largest financial services technology platform in Africa by enabling the distribution of a range of affordable and accessible micro financial services products.

aYo and its shareholder, MTN, are currently working on the final details of a partnership with a new insurance group for access to more underwriter licenses, in order to expand its product range and penetrate more markets.

“We see ourselves as a technology company first and foremost, that happens to sell microinsurance now. As our customers transition to a world where financial services are easily accessible via mobile phone and transacted via apps and other channels. We need to respond with a platform business model that will allow us to scale rapidly and cost-effectively manage material volumes of nano transactions,” said Botha.

Part of this technology evolution has seen aYo transition to a cloud data warehousing approach. Using Snowflake as a solution as it looks to deal with growing volumes of customer data.

“Data is a key asset that we want to grow and leverage, as it will allow us to drive better outcomes and value for our customers. Moving into a new generation data warehousing capability gives us the ability to analyse usable data faster, and build automated models for particular use cases. Like more granular target market segmentation, retention strategies and targeted customer propositions,” said Botha.

Choice of technology plays a critical role in ensuring the affordability of micro financial services by driving ‘frictional costs’ out of the system. Like the costings involved in using legacy tools and processes, or online physical hosting solutions. A solution like Snowflake helps the company to scale up and down according to demand. And makes it easier to build real-time reporting capabilities which are key strategic aims.

“We’re excited to be experimenting with world-class technologies that help accelerate our vision to enable first-time access to financial services for many African consumers, and bring them into the economic mainstream. That’s where insurtechs are truly contributing to financial inclusion across the continent, and making a positive difference to people’s lives,” said Botha.

 

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Social media main enabler for growth among women-owned businesses

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95% of women SMEs in the region identify social media channels as the top tool to drive their business ventures

Mastercard, the Official Payment Technology Partner of Expo 2020 Dubai, and Female Fusion Network unveiled new research at the first in a series of workshops for the region’s female entrepreneurs at the world’s largest cultural gathering.

Held at Expo 2020 Dubai’s Women’s Pavilion, in collaboration with Cartier, the session focused on the power of the digital economy in enabling women-owned businesses to go online. In a study conducted among Female Fusion’s network of 20,000+ members across the region, it was revealed that 95% of women SMEs in the region identify social media channels as the top tool for their business ventures. Other channels include their own e-commerce websites (72%) as well as messaging services such as Facebook and Whatsapp (50%).

In addition, three out of four (72%) women-owned businesses said they rely on word of mouth to market their products and services. The workshop identified how SMEs can make the most of their online footprint, and better connect to their consumers in a digital economy.

Speakers included Ngozi Megwa, Senior Vice President, Digital Partnerships MEA, Mastercard, Sarah Beydoun, Founder and Creative Director of social impact fashion business Sarah’s Bag in Lebanon, Ioanna Angelidaki, co-founder of Instashop, and Maureen Hall, Founder and CEO of COÉGA Sunwear.

“The findings from the study indicate a clear need for further education and empowerment. Mastercard has long pushed for the success and growth of women as we break gender barriers around the world. Digital tools and technologies are the greatest equalizer for businesses and as the shift towards e-commerce becomes increasingly permanent, we are committed to helping women businesses go digital and grow digital as they pursue their entrepreneurial passions,” said Ngozi Megwa, Senior Vice President, Digital Partnerships MEA, Mastercard.

The recent unveiling of the inaugural Mastercard MEA SME Confidence Index also revealed that in terms of a digital footprint of the region’s women entrepreneurs, social media (71%) leads the way followed by a company website (57%).

“We are proud of the successful launch of our workshop series in partnership with Mastercard. As a growing community of ambitious women leaders, Female Fusion Network looks to support our members with access to platforms that offer simple yet effective takeaways for them to grow their business. We look forward to having more of these impactful sessions during Expo 2020 Dubai,” said Jennifer Blandos, Managing Partner, Female Fusion Network.

Mastercard has made a global commitment to connect 25 million women entrepreneurs to the digital economy by 2025 as part of its goal to build a more sustainable and inclusive world. As part of its efforts, the technology leader recently launched  ‘The Entrepreneur’s Odyssey’ a first-of-its kind digital education platform that brings together a range of world-class academic and business resources to help small businesses learn and thrive.

 

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