E-Business
SAS Institute, Resourcery Collaborate on Fraud Management Seminar
Resourcery Plc, leading West African Information Technology company, and SAS Institute the global leader in business analytics software and services, will be discussing the role of analytics in managing fraud and data during a business session for leaders of financial institutions in Nigeria.
The event will be held on November 8th, 2013 at the Wheatbaker Hotel in Ikoyi.
The “Fraud and Data Management breakfast event” will provide the heads of compliance, internal control, risk management and information technology departments with an opportunity to explore how SAS can help them to not only detect financial crimes, which is a growing worldwide problem, but also prevent the fraud from occurring in the first place.
From a data management point of view, SAS will share insights into how companies can maintain the deluge of information they have within the organization in a usable, logical framework.
Tunde Balogun, Resourcery’s Solutions manager, business application, said; “As a leading partner of SAS in West Africa, Resourcery is committed to providing our customers with the best available information technology business solutions that’ll enhance their services. In providing this platform, we have again demonstrated our support for the overall development of our financial institutions as it relates to the reduction of fraud and data management.”
“Just as fraud prevention is an important business task for banks, data management doubles as its Siamese twin. Bad data isn’t just annoying; it can damage strategic business plans of financial institutions. We know that the IT environment is complex, so also is the need for data management which is the very vital tool of our banking institutions. The ability to successfully manage information disrupting systems and processes is what we bring to our customers at this event,” he added.
According to Edward Sungura, SAS sales director, Sub-Saharan Africa, “our guests would learn how to build and use holistic customer behavioural patterns in the fraud detection process. “They would also be able to gain a true enterprise view of fraud by aggregating alerts from multiple systems into a single environment. But most importantly, they’ll learn how to increase their organization’s return on investment through fewer false positives and more accurate investigations.
Said Sungura: “Unless compliance, internal control, customers’ data and IT managers trust their data, every operational process, report and decision will lower their confidence in the decisions they make based on that information. Whether it’s a mainframe, relational database, enterprise application or big data, only high-quality data can determine if the system is useful. With technology built on data quality, attendees would see how they can stop reacting to bad data and start using quality data to make a difference.”
Nigeria Data Protection Commission (NDPC) has commenced a forensic investigation into the University of Lagos (UNILAG), Lotus Bank and Hackerbella Ltd over alleged violations of data protection laws involving students’ personal information.
The investigation follows public complaints alleging that students’ personal data were used to open bank accounts without a lawful basis.
Dr Vincent Olatunji, national commissioner and chief executive officer of the NDPC, directed the investigation team to conduct a comprehensive assessment of the circumstances surrounding the collection, processing, use and disclosure of the affected students’ personal data.
The investigation will also determine the respective roles and responsibilities of UNILAG, Lotus Bank and Hackerbella in the alleged processing of the data.
According to the Commission, the investigation will assess the data protection compliance obligations of the parties under the Nigeria Data Protection Act, 2023 (NDP Act), as well as potential risks posed to the rights and freedoms of the affected data subjects.
The NDPC said the probe would cover several areas, including Data Protection Impact Assessments (DPIAs), the lawfulness and transparency of credit scoring or profiling activities, and the use of automated decision-making systems.
It will also examine the adequacy of privacy notices, data-sharing arrangements, lawful bases for processing, data minimisation and purpose limitation.
Other areas include data retention policies and the adequacy of technical and organisational measures put in place to safeguard the rights and personal data of affected students.
The Commission reiterated that institutions entrusted with the personal data of students, staff and other members of their communities have a heightened responsibility to ensure that such information is processed lawfully, fairly, transparently and securely.
The NDPC therefore warned educational institutions that are yet to comply with its existing data protection compliance directives to take immediate steps to achieve compliance.
The Commission said it would continue to exercise its regulatory mandate to protect the privacy rights of Nigerians and ensure that organisations processing personal data comply with the provisions of the Nigeria Data Protection Act, 2023.
Microsoft is planning to unveil its new Maia 300 AI chip this fall, potentially as soon as next month, The Information reported on Monday, citing people with direct knowledge of the plans.
The company introduced its Maia AI chip in November 2023 but has lagged rivals such as Alphabet and Amazon in scaling up its in-house chip efforts as it seeks to reduce its reliance on Nvidia’s costly processors.
Google began recognizing revenue from direct sales of its custom AI chips, called Tensor Processing Units, in the quarter ended June, while Amazon has also seen growing adoption of its processors, including its Trainium chips.
Microsoft has been in talks with chipmaker TSMC to secure manufacturing capacity for more than 300,000 units of the chip for delivery in 2027, according to the report. It is also looking to significantly ramp up production and persuade major cloud customers such as Anthropic to adopt the chip.
Microsoft ultimately aims to secure capacity for more than 1 million Maia 300 chips, though component supplies and ongoing capacity negotiations with TSMC could constrain its plans, according to the report.
It unveiled its second-generation Maia 200 in January, built by TSMC using 3-nanometer technology.
Microsoft packed the chip with a significant amount of SRAM, a type of memory that can provide speed advantages for AI systems handling large numbers of user requests.
X has announced plans to discontinue its Revenue Sharing programme and introduce a new Original Content Rewards programme to reward creators for producing original content on the platform.
The social media company announced the changes at the weekend in a post on its X Creators handle, saying the new programme would reward creators who contribute original content.
“Today, we’re introducing the Original Content Rewards Program, a new way to reward creators who bring original ideas, expertise, reporting, creativity, and commentary to X,” the company said.
X said it would stop accepting new enrolments into the Revenue Sharing programme from Friday, while existing participants would continue earning until September 7, 2026.
“Starting today, we’re no longer accepting new enrollments into Revenue Sharing,” it said.
According to the company, existing Revenue Sharing participants will receive three final payouts, with two scheduled for August 14 and August 28, while the final payment for earnings accrued through September 7 is expected around September 11.
X said existing Revenue Sharing participants would begin getting access to apply for the new programme from September 8, subject to meeting its eligibility requirements.
The first payout under the Original Content Rewards programme will be made on August 28, 2026, while existing Revenue Sharing creators who enrol in the new programme from September 8 will receive their first payment on September 25.
Under the new programme, eligible creators will earn from qualified impressions generated by their original content, with payments made every two weeks.
X defined qualified impressions as unique impressions from Premium users on the Home Timeline feed, where at least 50 per cent of a post is visible.
On the other hand, “The following are excluded from qualified impressions: impressions from the same account counted more than once per post; paid, promoted, or artificially generated impressions; and fraudulent impressions,” it said.
To qualify, creators must be at least 18 years old, live in a country where the programme is available, maintain an account in good standing and have either a personal or vusiness account.
They must also subscribe to X Premium, Premium+ or Premium Business, have at least 500 verified followers and record at least 500,000 Home Timeline impressions from verified users within the previous 90 days.
X said creators must also regularly post original content to remain eligible.
“We want to recognize creators who break news, share expertise, tell stories, create entertainment, and contribute meaningful perspectives to the conversation,” the company said.
The platform said original content could include threads, videos, memes, graphics, illustrations, reporting, analysis, commentary and reactions that add meaningful value to existing conversations.
It said creators who use content produced by others would need to add meaningful commentary, context, analysis, humour or creative transformation for such posts to qualify.
“Building on existing conversations is a core part of X, but simply reposting someone else’s content is not enough,” it said.
X said minor edits such as cropping, filters, borders, watermarks, speed adjustments or simple text overlays would generally not qualify as meaningful transformation on their own.
It also warned that content copied or substantially reproduced from another creator, content downloaded and re-uploaded from X or another platform without being the original author’s, automated content, disinformation and misleading content would be ineligible.
The company said accounts that violate the programme’s requirements could be temporarily or permanently removed from it, depending on the severity of the violation.
It added that creators would be responsible for ensuring they had the necessary rights, permissions or licences to use content created by others.
“Original content is content you personally create that reflects your own voice, perspective, expertise, or creativity,” X said.
The company said the new programme was intended to reward creators who make the platform more valuable by bringing original ideas and perspectives to its conversations.
“The Original Content Rewards Program is designed to reward the creators who start them, shape them, and move them forward,” it said.
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