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Polaris Bank wins Digital Bank of the Year Award
Polaris Bank has been recognized as the Digital Bank of the Year (Global Award category) at the recently held Banks And Other Financial Institutions (BAFI) award for its trailblazing delivery of VULTe Digital Bank organised by BusinessDay Newspapers.
The Organisers at the award ceremony, which held in Lagos disclosed that Polaris Bank’s VULTe outperforms all its peers in the industry across 8 metrics considered by the award selection/review Committee.
The 8 metrics considered are: strength of strategy for attracting and gaining digital customers; accelerated user engagement since the pandemic; success in getting clients to use digital offerings; growth of digital customers and platform security.
Others include: the breadth of product offerings for retail and corporate clients; evidence of tangible benefits gained from digital initiatives and web/mobile site design, intuitiveness and functionality.
Other Nominees in the Digital Bank of The Year Award category were: ALAT by WEMA, Kuda and VBANK.
In the words of BusinessDay “According to the selection parameters, the selection of Polaris Bank was based on VULTe satisfying and exceeding the hurdle scores in the period under review.”
Polaris Bank had on May 18, this year launched VULTe at a grand ceremony in Lagos where it predicted that the Digital Bank will redefine Nigeria’s Digital banking landscape. And in a space of four months, VULTe performance and quantum of Customer uptake within and outside Nigeria confound Analysts as it crossed the one millionth customer uptake marking a major milestone.
Receiving the award, Polaris Bank’s Managing Director/CEO, Innocent C. Ike who was accompanied by his management Team at the ceremony, thanked customers of the Bank for their loyalty and patronage assuring that the best was yet to come.
While appreciating BusinessDay for the award, the bank confirmed that VULTe recorded the 1 millionth customer before the end of 4 months of its launch justifying that the huge ICT investment made by the Bank paid off ultimately with this recognition among several plaudits VULTe has recorded.
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Academic Technologists Propose N350,000 Minimum Wage
National Association of Academic Technologists (NAAT), has proposed N350,000 as the new minimum wage for Technologists in the tertiary institutions.
Comrade Ibeji Nwokoma, national pesident of NAAT, stated this at 5th National Delegate Conference in University of Abuja.
Nwokoma, said the proposal was based on the present economic situation in the country occasioned by the removal of fuel subsidy, high inflationary rate and the attendant hardship.
Nwokoma maintained that technology rule the world and advanced development and shaping the landscape of education in developed countries.
Prof. Tahir Mamman, minister of Education, said the federal government will soon introduce the policy that will make skill acquisition compulsory for primary and secondary schools.
The minister said global space is driven by technology which the advanced world is using to solve problems and gaining grounds.
The Union protect, defend, and promote the rights and well being and interests of all members and to advance the cause of members, employed in Nigerian Tertiary Institutions Universities, Polytechnics, and Colleges of Education.
The theme of the conference is, “Technology, a recipe for national development and socioeconomic growth in the 21st century: the Nigeria quest for a better tomorrow.”
News
9mobile Partners Microsoft to Host Impactful Training Session for Journalists
9mobile, telecommunications company, recently partnered with tech giant, Microsoft to host a capacity-building session for journalists aimed at empowering them with innovative tools to improve their skills for maximum performance in their field.
The learning session held at Microsoft Africa Development Center had in attendance media partners from print and online platforms and publications.
The training session provided a platform to introduce journalists to the benefits of Microsoft Copilot and its potential to revolutionize the profession.
Microsoft Copilot is an advanced AI-powered tool which offers a wide array of functionalities designed to streamline workflow, enhance productivity, and elevate the quality of their output.
Through this partnership, 9mobile and Microsoft sought to equip journalists with the skills and knowledge necessary to leverage Copilot effectively in their day-to-day work.
Speaking at the training session, Chineze Amanfo, PR Lead, 9mobile, expressed her enthusiasm and satisfaction with the session, emphasizing the company’s commitment to fostering innovation and empowerment within the media industry.
She stated, “We are thrilled to collaborate with Microsoft in providing this invaluable training opportunity for journalists. At 9mobile, we recognize the pivotal role that the media plays in shaping public discourse and driving societal change.
Therefore, equipping them with the requisite knowledge and tools such as the Microsoft Copilot, will enhance their capability to deliver on their respective assignments efficiently by disseminating accurate and impactful information to the public.”
“We prioritize our relationship with the media hence, the need for the periodic capacity building session for journalists. With this training, we have clearly demonstrated our unwavering commitment to sustaining the initiative.
“We will continue to explore new avenues for collaboration and innovation, ensuring that our partners in the media industry have access to the tools and resources they need to thrive, Amanfo added.”
Yemi Orimolade, The Senior Business Programme Manager, Marketing Communications, Microsoft Africa Development Center, appreciated the participants for their contributions in making the session an engaging experience and enjoined them to champion the message of AI responsibility.
He said, “Microsoft’s Copilot is poised to be a game-changer for journalists. It is a reliable tool for generating and optimising content, staying informed, and enhancing productivity. Our commitment is to harness the transformative potential of AI for societal betterment. Welcome to the future of journalism, working smarter with Microsoft Copilot.”
The capacity-building session received an overwhelmingly positive response from participants, who lauded the practical insights and demos provided.
Attendees expressed their appreciation for the opportunity to familiarize themselves with a tool as powerful and versatile as Microsoft Copilot, acknowledging its potential to revolutionize their workflow and enhance their journalistic endeavors.
With the successful hosting of the capacity-building session, 9mobile and Microsoft look forward to more areas of sustained collaboration to drive positive change and innovation within media ecosystem in Nigeria.
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Nigerian Banks Lost over N8Bn to Internet Fraudsters in 2022- EFCC
Economic and Financial Crimes Commission (EFCC), yesterday said that banks in the country lost over N8 billion to internet fraud, otherwise known as Yahoo-Yahoo Boys, in 2022.
Ola Olukoyede, chairman of the commission, also disclosed how Yahaya Bello, former governor of Kogi state allegedly moved a staggering $720,000 from the state account to pay his child’s school fees.
Olukoyede, who made the disclosure during an interactive session with media executives in Abuja, narrated how cyber crime has hurt the companies and its negative effects in attracting direct foreign investment for the country. He lamented that no fewer than 71 percent of companies operating in Nigeria were victims of cybercrime in 2022 even as he argued that the Commission’s war against internet fraud is about safeguarding the country’s future.
“In 2022 alone, I’m waiting for the report of 2023, we discovered that more than 71 percent of Nigerian industries, companies and firms fell victim to cyber crime. Now, which country or company would thrive with this kind of thing? “You want to attract foreign direct investment; the moment you come in, Yahoo boys will attack your platform. You start losing money and you think they would stay?
“Is that not what we are seeing? We are rescuing the future of Nigeria by going into this cyber crime investigation and prosecution.
“Now, within that period, the Nigerian economy lost $706 million (via) these companies through cyber crime, to the activities of these Yahoo Yahoo boys because we don’t take them seriously now, not knowing that we are sitting on a keg of gunpowder.
“The alarming statistics continued with Nigerian banks losing over N8 billion to electronic transfer fraud in the first nine months of 2022.
“A system lost over N8 billion to a particular scheme of fraud and you are asking EFCC to close its eyes to that kind of situation. Are we even fair to ourselves?”
He said the agency is prosecuting two of its operatives for violating the agency’s code of conduct.
He said the commission has made some reforms to enhance its fight against corruption, including the creation of the directorate of fraud risk assessment/control and ethics/integrity.
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