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TeamApt Secures Switching License From CBN To Power Payment Infrastructure Solution, AptPay

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APRIL 5, 2019 — TeamApt hosted the press community at its headquarters to announce the switching license that has been awarded to the company by the CBN. The license powers AptPay, one of TeamApt’s products, to lead a financial revolution as it provides solutions for different customer segments in the Nigerian society.


TeamApt CEO, Tosin Eniolorunda, describing the impact of the license says “It is the highest license awarded to any fintech by the CBN because the license allows you to put all the banks together and be able to debit their banking position with the central bank. What this translates to is that with AptPay, TeamApt can actually move money across the banks without putting our money down. This license puts TeamApt on the same level as other Tier-1 financial technology companies.”

He went further by saying, “If through a payment gateway, a buyer pays a merchant for a product and the payment gateway provider needs to pay the merchant instantly, without the license, the provider will have to pay with its own money. But with the license, the provider is merely moving the bank funds around without tying down its money”

Dumebi Duru, the team lead for AptPay, which is a robust payment infrastructure powering payment processing, interbank transfers, and direct debits describes the switching license as the ‘last piece to the matrix’.

The press members were also taken on a tour of the company, meeting with product team-heads to fully understand the scope of TeamApt’s service offerings in the finance industry.


Simpa Saiki, product-head for moneytor, explained how moneytor is an omnichannel digital banking solution for banks that want to provide end to end and personalized banking services to different banking personas. He also illustrated how TeamApt builds white-labelled end-to-end online banking products from the ground up, which are customized for the banks.

Moving on to the next team, Emeka Ibe who leads the profectus robotics process automation team explains how the solution helps banks cut down massively on manpower hours and operational costs by automating E-banking processes such as settlements, reconciliations and dispute resolutions.


Product head for Moneytor, Tunde Ogidan, spoke on how the product is focusing on solutions for the underbanked and unbanked. “As you know, with a population of 200 million Nigerians, there are only 17,000 ATMs available” he said as he highlighted the problem the product is solving. Moniepoint is engaging agents to offer secured soft banking services to reach the 180 million unbanked Nigerians. “We plan to hit 12,000 units nationwide by the end of 2019” Tunde said.

The press members also met with the Monnify team led by Tobi Amira. He explains that Monnify is going to digitize in-person payments which were hitherto impossible. ‘With monnify, you will be able to pay your tailor or your water supplier conveniently and capture the transaction digitally’.

When asked what plans TeamApt has for scaling across Africa, Tosin, the CEO explained the company was in advanced talks with 6 banks in Ghana with expansion plans underway in Tanzania. He also hinted at plans to expand outside Africa before the end of Q4 2020.

TeamApt Limited is a financial technology company in Lagos with a mission to create financial happiness through the development of Digital Banking, Digital Business solutions and running Payment Infrastructure for Africa, with a customer base of 26 banks across Africa, including Zenith, ALAT by Wema, UBA, First Bank, GTBank and Access Bank.

Also Read Interview With Doja Culinary Company CEO, Onaopemipo Dara

More Event Pictures:

 

Oge Okonkwo, Marketing Manager at TeamApt addressing the press

Oge Okonkwo, Marketing Manager at TeamApt taking the press through the company’s vision and mission.

 

TeamApt CEO, Tosin Eniolorunda with the press.

Visit: TeamApt

 

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CRITAC: A Must Know Scientific Research Center In Africa Founded By This Young African Ghanaian Scientist, Dr. Kester Quist Aphetsi

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The Center for Research, Information, Technology and Advanced Computing founded by the Young African Ghanaian Scientist, Dr. Kester Quist Aphetsi. RANK 1ston Clarivate Analytics in Ghana for its good scientific research.

Over the years,CRITAC has been providing webinars, workshops, seminars and tech-news. They feature distinguished speakers from professional bodies, academia and industry on their programs.

Their research laboratories are led by top research scientists, industrial experts and research studentswith research laboratories in different domains necessary for the execution of the projects they undertake.

Reports and works from CRITACare published withreputable publishers such as ACM, IEEE, Springer, Elsevier, Taylors and Francis, Emerald etc with indexing at Thompson Reuters and Scopus. One can accesstheir current research works and reports with the above-mentioned publishers.

Engaging CRITAC means engaging some of the best minds with the expertise of providing timely solutions to problems leveraging on innovation and ingenuity in delivering results.

Also Read TeamApt Secures Switching License From CBN To Power Payment Infrastructure Solution, AptPay

Their Research and Development programs are revolutionary breakthroughs in areas such as cyber security, big data, artificial intelligence, embedded systems, networked systems and software, and the application of such technologies to diverse fields in business, science, engineering, education, government etc.

Amongst the countless Scientific Research Conference organised by CRITAC is the recent ended 2019 ICSIoT Conference at the Ghana Technology University that gathers students, professionals, Researchers, Scientists, Security Organisations, Military Personnel’s, Police and the likes.

http://critacghana.com/critac/

 

Credit: Abigail Oppong

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Egypt hosts ‘Seamless North Africa 2019’ to discuss latest trends in Financial Technology

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CAIRO – June 2019: For the second consecutive year, Central Bank of Egypt will host on the 17th and 18th June 2019, the FinTech Conference “Seamless North Africa 2019”, under the auspices of H.E the Prime Minister, Dr. Mostafa Madbouly, and with the participation of the most renowned international and local experts in the field of financial technology, e-payments and e-commerce.

The conference is held in collaboration with the Council of Arab Economic Unity and the League of Arab States, and is co-organized by the Egyptian Banking Institute (EBI).

Partakers will represent influencing and well recognized entities, institutions, banks and international companies, that cover multiple sectors of banking, finance and e-commerce, aiming to discuss and evaluate the role played by new technologies and strategies to cater for improved services to citizens and consumers across the Arab world.

Ms. Lobna Helal, Deputy Governor of the Central Bank of Egypt, affirmed that “hosting the conference for the second year in a row reflects the tremendous success achieved by SEAMLESS 2018 in its first edition, emphasizing that “The Central Bank of Egypt’s hosting of the Conference stems from the premise of its pioneering role to communicate with society and address the challenges facing the expansion of innovative financial products and services. The role played by the Central Bank is no longer limited to the regulatory and organizational aspects, but has extended to support and incentivize the society to be less cash dependent and to sustain the transition towards financial inclusion, Under the umbrella of the National Payments Council, which is privileged with the chairmanship of President Abdel Fattah al-Sisi. ”

Eng. Ayman Hussein, Sub-Governor of the Central Bank for the Payment Systems and Information Technology Sector, has stated that “The conference has attained escalating importance derived from the leading role played by FinTech in providing, efficient, effective and affordable financial and banking services to meet the diverse timely and logistical needs of customers, thus creating an enabling environment and improving accessibility to the general public, appointing financial technology as a key pillar of financial inclusion and a fundamental supporter of economic growth, accordingly, achieving benefits on the individual and state levels”.

The conference will discuss the challenges that face Egypt’s emerging FinTech eco-system, in the areas of microfinance, microcredit, cross-border payments, remittances, data analysis, artificial intelligence for retail banking, cybersecurity and the SME credit score.

He also mentioned that the conference supports innovation in FinTech, whereas it will feature a pitch off competition for Fintech startups, whereas candidates will compete for a grant of USD 50,000 in cash awarded by an international sponsoring company. Competitors will present their new business model or innovative Fintech solution in front of a panel, composed of leading Egyptian and international experts.

Dr. Rasha Negm, General manager Fintech & innovation has added that “The conference will incorporate several panel discussions, interviews, presentations and workshops revolving around the latest trends and innovations in financial technology. An exhibition of more than 50 leading technology and innovative solution providers will be held on the sidelines of the conference, which avails an opportunity to learn about the latest innovations in the Fintech field”.

– EGYPT TODAY

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IBM expands its Quantum Computing Program to Africa with Wits University

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DURBAN – IBM has launched the expansion of its quantum computing efforts to Africa in a new collaboration with the University of the Witwatersrand (Wits University) in South Africa.

Wits University is the first African partner on the IBM Q Network and will be the gateway for academics across South Africa and to the 15 universities who are part of the African Research Universities Alliance (ARUA).

“This is the latest outcome of the joint partnership between IBM Research and Wits, which started in 2016 when IBM opened its second lab in Africa in Wits University’s Tshimologong Digital Innovation Precinct in Johannesburg. To expand the IBM Q Network to include Wits will drive innovation in frontier-technologies and benefit African-based researchers, academics and students who now have access to decades of quantum computing capabilities at the click of a button,” said Professor Zeblon Vilakazi, Wits Deputy Vice-Chancellor: Research and Postgraduate Affairs.

Quantum computing promises to be able to solve certain problems – such as chemical simulations and types of optimization – that will forever be beyond the practical reach of classical machines. IBM first made quantum computers available to the public in May 2016 through its IBM Q Experience quantum cloud service and has doubled the power of its quantum computers annually since 2017.

IBM established the IBM Q Network™, a community of Fortune 500 companies, startups, academic institutions and research labs working with IBM to advance quantum computing and explore practical applications for business and science.

Researchers at Wits will investigate the use of quantum computing and machine learning in the fields of cosmology and molecular biology with a specific focus on HIV drug discovery. The teams will also jointly study quantum teleportation, a field pioneered by IBM Fellow Charles Bennett.

“For Africa to remain competitive for the coming decades we must get the next generation of students quantum ready,” said Dr. Solomon Assefa, Vice President, Emerging Market Solutions and Director, IBM Research – Africa.

As part of the partnership between IBM and Wits, scholars from sixteen ARUA universities will have the opportunity to apply for access to IBM Q’s most-advanced quantum computing systems and software for teaching quantum information science and exploring early applications.

To gain access to the IBM Q quantum cloud service, ARUA scholars will be required to submit quality research proposals to a scientific committee of Wits and IBM experts for approval.

“Having access to IBM Q is pivotal for Wits University’s cross-disciplinary research program and allows our researchers in quantum computing, artificial intelligence, and in the broad natural sciences, including in laser technology, quantum optics and molecular design, to leverage the next level of discovery research. It’s envisioned that the first results from this collaboration will be forthcoming in the next two years,” said Vilakazi.

IBM’s recently unveiled IBM Q System One, is the world’s first integrated universal approximate quantum computing system designed for scientific and commercial use.

Also Read TeamApt Secures Switching License From CBN To Power Payment Infrastructure Solution, AptPay

IBM’s most advanced universal quantum computing systems available through the IBM Q Experience platform. More than 10 million experiments have run on the IBM Q Experience and users have published over 160 third-party research papers. Also, developers can work with  Qiskit, a full-stack, open-source quantum software development kit, to create and run quantum computing programs.

To further increase skills development, IBM Q is hosting an invite-only Qiskit Camp in South Africa this December for 200 quantum researchers and computer scientists where they will learn in an immersive environment and receive hands-on training.

The agreement with Wits was signed in April 2019.

BUSINESS REPORT ONLINE

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