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Oceanic Bank Inks SAP Business Suite to Phase out Manual System

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 SAP Africa has completed one of its largest ERP implementations in Nigeria following the completion of the Greenfields rollout at Oceanic Bank, one of the country’s largest financial institutions. The project is the first by an indigenous bank to settle on SAP as its primary business management solution.
The implementation centered on SAP Business Suite, which enables the bank to continue using its core banking solution that integrates seamlessly and swiftly with the ERP back-end functionality and management tools. Oceanic Bank bought a 4216-user license to be deployed across its 400 branches.
“Oceanic Bank is a premier customer for SAP Africa and Serve Consulting, a key SAP partner in Nigeria and we are extremely proud to have concluded this deal and implementation,” said Ayokanmi Ayuba, alliance and channel manager WA for SAP Nigeria. “One of the major reasons for looking for an ERP solution was to jettison their manual processes, and thereby improve efficiencies across the board. They now have full visibility at board and management level and can see what is going on in the bank on a day-to-day basis.”
Ayuba says the bank is now in a far stronger position to drive efficiencies and performance, both operationally and financially, thanks to the control that SAP brings to managers’ desktops.
This is made possible due to the breadth of services delivered under SAP Business Suite, which includes Financial Accounting, Management Accounting, Budgetary Controls, Supply Chain Management modules, as well as Materials Management and HR, including Payroll and Employee and Manager Self-service tools.
Cornel Ononeze, head of the SAP Competency Center at Oceanic Bank International PLC said, “The bank’s investment in the SAP implementation has begun to pay dividends since going live with the initial modules. The decommissioning of seven legacy applications has also resulted in savings on multiple licensing, individual support infrastructure, multiple support personnel and maintenance of several interfaces in the bank. The overall benefit is a reduction in operating costs.
“The SAP system has given our bank greater process transparency as the status of all transactions can be tracked online in real time through appropriate workflows and authorizations without recourse to very expensive follow-ups via telephone, fax or other channels. Today all policies relating to expense controls and budgets are effectively deployed and monitored on SAP without leakages bank–wide, thus providing the bank with reliable consumption data for decision making.”
Ononeze went on to add that SAP ERP has given the bank the capability to evaluate work load across the various departments for objective assessment of resource allocation bank-wide. This implementation has equally facilitated the reduction and redeployment of personnel in several departments without adversely affecting service delivery.
“Clearly, the SAP platform is a key facilitator of our current reengineering efforts aimed at inculcating best practices on all processes, transparency, good corporate governance and   compliance with all international and regulatory requirements,” said Ononeze. “Above all, the skills for first line support have also been transferred to a dedicated Competence Center, thus effectively reducing the need for constant consulting interventions as all new business requirements have been implemented by the team since the initial go-live.”
The project planning and implementation was completed by one of SAP Africa’s leading partners in the region, SERVE Consulting.
Adeola Adejuyigbe, company’s Managing Director, said the project had its own unique challenges, particularly as it was a brand new implementation that required a definitive mind-set change from the bank and its executives.
“The quality of data that we had to migrate to SAP Business Suite was particularly troublesome, but we eventually overcame these challenges to complete the project,” he says. “Change management and user acceptance, as with all such implementations, was critical to the success and we have made steady headway in guiding the bank and its staff through this process.”
Benefits to the bank include the improved visibility, but also significantly tighter control of budgets and spending across all of its operations, he says. Adejuyigbe said there is a great sense of achievement in concluding a Greenfields project of this magnitude, with the team comprising up to 40 members at its peak.
While Oceanic Bank is becoming accustomed to the new system, it is already exploring additional modules and functionality – such as Business Intelligence – which it may implement later this year.
Ayuba says the project demonstrates SAP’s capabilities in the region, which is central to the company’s drive to establish sustainable and long-lasting partnerships on the continent.

 


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Join Inlaks Live TechTalk Edition on Hyosung’s Revolutionary MV 100 ATM Model

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Inlaks, the leading Information Technology Systems Integrator specialised in the deployment of highly scalable ICT Infrastructure solutions, will on Monday September 28, deploy the second edition of its virtual thought leadership segment called “TechTalk”.

Techtalk which was formerly a pre-recorded segment hosted on the organisations YouTube channel has now transitioned into a live virtual event across Instagram, Facebook, Twitter and YouTube. The virtual edition kicked off in August 2020 with a segment on Financial Crime Mitigation, honing in on the superiority of Temenos Financial Crime Mitigation Solution with Emmanuel Orororo, Sales Manager, Financial Business, Inlaks.

The 2nd edition of Tech Talk promises to offer the same measure of insights as it dives into the world of Automated Teller Machines (ATM) with a focus on MoniValue 100, a revolutionary ATM solution by Hyosung TNS. The MoniValue 100 is especially adapted to the present times as it is a cardless, contactless and changeless solution.

Join this virtual event live by logging on to any of the social media pages below on Monday, 28th September 2020. YouTube: Inlaks, Facebook: InlaksNg, Twitter: Inlaks, Instagram: InlaksNg

Inlaks is a leading system integrator in Sub-Saharan Africa. The company partners with leading OEMs in the technology industry to provide world-class information technology solutions that exceed the needs of its customers.

Over the years, Inlaks has built a reputation as the foremost ICT and Infrastructure Solutions Provider, helping customers effectively seize new market and service opportunities.

With an impressive customer base that includes six Central Banks in West Africa, 18 of the 24 banks in Nigeria and other major customers in the West African region, Inlaks has become the dominant Information Technology Company in Africa.

Inlaks’ customers cut across various segments including Banking, Telecommunication, Oil/Gas, Power, Utilities and the Distribution sectors of the economy. For more information, please visit www.inlaks.com


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Millions of Cyber Attacks Launched on Nigeria, Others- Reports

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There were 3.8 million malware attacks and 16.8 million Potentially Unwanted Applications (PUA) detections over a 7-month period in Nigeria, according to Kaspersky security solutions.

Millions of Cyber Attacks Launched on Nigeria, Others- Reports

Elsewhere in South Africa, there were almost 10 million malware attacks and a staggering 43 million PUA detections, showing the growing desperation of the attacks.

The company reported on 28 million malware attacks in 2020 and 102 million detections of potentially unwanted programs (pornware, adware etc.) accounted for by the beginning of August 2020.

These numbers show that it’s not only the malware that attacks users but also the “grey zone” programmes that grow in popularity and disturb their experiences, while users might not even know it is there.

Potentially unwanted applications (PUAs) are programmes that are usually not considered to be malicious by themselves.

However, they are generally influencing user experience in a negative way. For instance, adware fills user device with ads; aggressive monetising software propagates unrequested paid offers; downloaders may download even more various applications on the device, sometimes malicious ones.

calculating interim results of threat landscape activity in African countries, Kaspersky researchers noticed that PUAs attack users almost four times more often than traditional malware.

They also eventually reach more users: for instance, while in South Africa, the malware would attack 415,000 users in 7-months of 2020, the figure for PUA would be 736,000.

“The reason why ‘grey zone’ software is growing in popularity is that it is harder to notice at first and that if the programme is detected, its creators won’t be considered to be cybercriminals. The problem with them is that users are not always aware they consented to the installation of such programmes on their device and that in some cases, such programmes are exploited or used as a disguise for malware downloads,” said Denis Parinov, a security researcher at Kaspersky.

By taking a closer look at PUA, it becomes apparent that they are not only more widespread but also more potent than traditional malware.

Evaluating results over the same 7-month period in Nigeria, there were 3.8 million malware attacks and 16.8 million PUA detections – which is four times as much.

Kenyan and South African threat landscapes have been more intense. In South Africa, there were almost 10 million malware attacks and a staggering 43 million PUA detections.

Kenyan users faced even more malware attacks – around 14 million, and 41 million PUA appearances, Kaspersky said.


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Tech Giants Strike Deal with Advertisers over Hate Speech

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Web giants including Facebook have struck a deal with advertisers on how to identify harmful content such as hate speech, after an impasse over the issue which led to boycotts of the platform.

Tech Giants Strike Deal with Advertisers over Hate Speech

The agreement — which also included Twitter and YouTube — laid out for the first time a common set of definitions for hateful statements online.

In July, hundreds of advertisers including big-name consumer brands suspended advertising with Facebook as part of the #StopHateForProfit campaign, saying the social-media titan should do more to stamp out hatred and misinformation on its platform.

And earlier this month a group of celebrities — including Kim Kardashian, Leonardo DiCaprio and Katy Perry — stopped using Facebook and Instagram for 24 hours, to push a similar message.

The World Federation of Advertisers (WFA) said in a statement Wednesday: “Facebook, YouTube and Twitter, in collaboration with marketers and agencies through the Global Alliance for Responsible Media have agreed to adopt a common set of definitions for hate speech and other harmful content and to collaborate with a view to monitoring industry efforts to improve in this critical area.”

The alliance was founded by the WFA and includes other major trade bodies.

According to the WFA, key areas of agreement included applying the alliance’s common definitions of harmful content; developing reporting standards for such content; establishing independent oversight; and rolling out tools for keeping advertisements away from harmful content.

The WFA said that properly defining online hate speech would remove the current problem of different platforms using their own definitions, which it said made it difficult for companies to decide where to put their ads.

“As funders of the online ecosystem, advertisers have a critical role to play in driving positive change and we are pleased to have reached agreement with the platforms on an action plan and timeline in order to make the necessary improvements,” said Stephan Loerke, chief executive of the WFA.

Luis Di Como, executive vice-president of global media at Unilever, a major advertiser, sounded a note of cautious optimism.

He said: “The issues within the online ecosystem are complicated, and whilst change doesn’t happen overnight, today marks an important step in the right direction.”

Speaking in July, Facebook’s founder and chief executive Mark Zuckerberg said he remained adamant that the company did not want hate speech on the social network.

On Wednesday, the company’s vice-president for global marketing solutions, Carolyn Everson, said the agreement gave all parties “a unified language to move forward on the fight against hate online.”

 


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