Connect with us

E-Business

There’s a Line Between e-Payment and Mobile Payment-Moroney

Published

on

Kindly share this post

Sean Moroney, is chairman of Aitec Africa, whose core business since 1987 has been focussed on ICT publishing, event management, professional development and training in Africa.

Moroney’s company has been market-leading pioneer in terms of spreading knowledge on the Internet, computing and telecommunications across most of English-speaking Africa.
 He spoke to hilary okeke on the forthcoming Aitec banking and payment technology conference and other issues.

Aitec Banking and Payment Technology Conference
Aitec Banking and Payment Technology Conference is a platform where experts in banking technology from Nigeria, South Africa, U.K and other parts of the world, come together to share their knowledge with the professionals and managers that attend the conference. Last year we had over 400 delegates attending the conference. In parallel with the conference, we have the exhibition which is the marketing showcase for the industry. Here, we see the latest technologies for the banking and financial services sector under one roof, providing a competitive situation where the banks and other potential buyers of the products can compare and actually quiz the companies that are on display about the services they are providing.

Major Achievements

The Banking and Payment Technology Conference has transformed the development of the financial credit sector from one that is rather traditional and colonial in perspective, to one that is now more outward looking, more inclusive and providing services for the unbanked. The problem that the conference has is that the vast majority of the populace still remains unbanked. They do not have basic financial services in order to transfer funds; in order to get money from one part of the country to another and also to be able to save their funds securely. The mobile banking phenomenon has hit East Africa in a big way and it is expected in this part soon. That would be a major focus of this year’s conference – Mobile Banking or what we call Branchless Banking. So, that has been the major achievement of the conference, providing a forum where new developments that are rapidly evolving can be deliberated.

Nigeria Ripe for e-Payment

Definitely! I think one needs to draw a line between e-payment and mobile payment. The former is facilitated by the Internet. I think the infrastructure is not well developed, in that way a lot of people do not have access to the Internet. For mobile payment, we are going to see huge increases in terms of volumes. Because there is rapid roll out of mobile telephony in the country, one can now leverage on that infrastructure and develop mobile banking.

Potential of Branchless Banking in Nigeria

Well, the potential is limitless. It still boils down to leveraging on the mobile networks, and there is big potential. You can use the mobile networks to transfer from user-to-user; you can also deploy wireless systems with mobile devices to function in the rural areas. At this moment, we have thousands of agents vending mobile scratch cards. Those agents can be trained and upgraded to actually become bank agents and can be in charge of certain transactions. So, the opportunities are boundless.

Role of Telecommunications in Mobile Banking

Telecommunication networks provide the backbone of the mobile banking system. In Kenya for example, on the M-pesa system there are millions of customers making fund transfers through the mobile system. The time has come for the banks to partner with mobile operators to provide these services because they have the proper banking expertise and experience in order to provide customers with the security and professionalism they need using mobile banking; whereas the mobile operators are more experienced in the infrastructure aspect. There is the need for partnership between the two sectors in order to provide effective mobile banking services.

Replicating M-pesa’s Success in Nigeria

Of course it could, but the right regulatory environment needs to be put in place. The Central Bank is grappling with that at the moment. Moneybox has been given mobile banking licence, which indicates some progress. I think we are on the eve of another banking revolution in Nigeria and we will see millions of people making use of their mobile phones for banking transactions.

Microfinance Banks and Mobile Banking

That is an important focus of this year’s conference – it includes the microfinance institutions. The conference, which would be in partnership with CGAP, EFIna and the World Bank, is going to focus on fashioning out ways in which these new technologies and new ideas can be utilized by the microfinance institutions. One of the sessions would be “Linking MFIs, Banks and payment Providers: What are the Obstacles in Nigeria?” So, we are going to look at what the problems are and what are the solutions. That would be a major focus of the conference – to find a way around to actualizing the benefits of these new developments.

Place of the Unbanked in the Branchless Banking Scenario

The unbanked are the target audience. The key untapped market out there needs low cost banking solution to be able to transfer funds from one point to another; a low cost solution to be able to invest their funds effectively, as well as access micro loans to develop their businesses. That is very critical in a branchless banking system that is based on telecoms networks.

Issues at this Year’s Event

They include latest software developments for ATMs. We will be looking at e-channels for microfinance banking, and the major focus will be on security issues. As we speak about mobile banking, security is a major problem. So, we would be looking at solutions in terms of security. We would be addressing ATM software trends for 2009/10, contact centres in banking, matters arising in Islamic banking, among others. In the exhibitions, we have a number of South African countries participating and we would be seeing a lot of cutting-edge technologies.

 


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Continue Reading
Advertisement
Comments

E-Business

Expert Urges FG to Harmonise NIN, BVN to Tackle Crimes

Published

on

Kindly share this post

Noble Ajuonu, head, Sydani Technologies Ltd., has urged the Federal Government to harmonise National Identification Number (NIN) and Bank Verification Number (BVN) to tackle crimes and insecurity in the country.

Expert Urges FG to Harmonise NIN, BVN to Tackle Crimes

Ajuonu made the call at a media roundtable, organised by Sydani Group in Abuja.

The News Agency of Nigeria (NAN) reports that the roundtable focuses on driving sustainability through a comprehensive analysis of Nigeria’s key development areas.

Ajuonu said that Nigeria could overcome its security challenges and pave the way for a safer, more secure future for all Nigerians by embracing technology and implementing practical solutions,

“We need to harmonise data, prioritise seamless integration of databases like NIN, BVN, and security agency records, establish clear protocols for data sharing and access, with robust safeguards against misuse,’’ expert said.

According to him, the unified data pool will empower intelligence gathering and targeted operations.

He also called for investments in smart surveillance, intelligent video analytics software, training of personnel in data analysis, interpretation of data in real-time to combat crimes.

“There is need to implement a legal framework for call interception in criminal investigations, with strict oversight to prevent abuse, encourage community cohesion, training of tech savvy security personnel with tech-enabled tools.’’

Ajuonu also urged the government to address infrastructure deficit in technology, saying that technology was all encompassing to address insecurity.

“According to the National Identity Management Commission (NIMC), as of December 2023, only 104.2 million Nigerians had been enrolled for the National Identity Number (NIN).’’

Ajuonu added that over 122.2 million citizens left uncaptured for NIN were people in rural areas where enrolment centres, digital services were limited.

“Most crimes are being perpetuated from rural communities and this lack of comprehensive identification creates a gap where elements not captured in the national database can constitute public nuisance, crimes.

“There is the inadequacy in the integration of NIN, BVN and Voters Identification Number (VIN).

“Advanced call interception and analysis tools, used successfully in other countries, could provide invaluable insights into criminal networks and operations but infrastructure is lacking,’’ he said.

Also, Mr Godfrey Petgrave, the Agricultural Expert, Sydani Group, called for empowerment of smallholder farmers with access to finance and training to enhance productivity.

According to Petgrave, Nigeria requires policy reform and institutional strengthening to improve agricultural practices and embrace digital agriculture solutions to address food insecurity.

Mr Akolade Jimoh, another expert of the group on health, advocated for expanded community-based health insurance programmes for rural and underserved areas.

Jimoh added that the country needed to encourage Public Private Partnership to revolutionise products design and quality improvement on health services.


Kindly share this post
Continue Reading

E-Business

Konga launches Infinix Brand Week with Incredible Deals

Published

on

Kindly share this post

Konga, Nigeria’s leading composite e-commerce group, is thrilled to announce the launch of amazing deals at its Infinix Brand Week. Infinix, a leading global smartphone brand known for its innovative products and cutting-edge technology promises exclusive discounts and special offers on select smartphones, marking an exciting milestone in the realm of online shopping.

Shoppers can expect nothing short of extraordinary deals on a wide range of Infinix products, all available exclusively on the Konga online platform. With discounts of up to 30% off, this partnership between Konga and Infinix aims to redefine the shopping experience for tech enthusiasts across Nigeria.

Konga Brand Week has become synonymous with excitement and unbeatable deals, and this year’s edition is no exception. In addition to exclusive discounts on Infinix smartphones, shoppers can explore a diverse array of products across various categories, including electronics, fashion, home essentials, and more.

“At Konga, we are dedicated to providing our customers with the best shopping experience possible,” said Rita Ohaedoghasi, VP Marketing at Konga. “The Infinix Week during Konga Brand Week allows us to continue delivering on that promise by offering incredible discounts and special offers on some of the most sought-after smartphones in the market.”

To stay updated on the latest developments and exclusive deals during Konga Brand Week, shoppers are encouraged to connect with Konga across all platforms, including social media and the Konga website. Don’t miss out on this opportunity to score big savings and elevate your tech game with Infinix and Konga.


Kindly share this post
Continue Reading

E-Business

Study Reveals Software Programmers to make Full Use of AI Code Assistants

Published

on

Kindly share this post

Gartner predicts that by 2028, 75 percent of enterprise software engineers will use Artificial Intelligence (AI) code assistants, up from less than 10 percent, currently.

According to a Gartner poll of 598 global respondents conducted in the third quarter of 2023, 63 percent of organisations are now testing, deploying, or have previously implemented AI code assistants.

AI code assistants provide for more capabilities than only code development and completion, notes the research firm.

According to Gartner, the use of AI code assistants can lead to higher work satisfaction and retention, resulting in lower turnover costs.

Philip Walsh, senior principal analyst at Gartner, comments: “Software engineering leaders must determine ROI and build a business case as they scale their rollouts of AI code assistants.

“However, traditional ROI frameworks steer engineering leaders toward metrics centred on cost reduction. This narrow perspective fails to capture the full value of AI code assistants.”

Gartner notes that software engineering leaders must “reframe the ROI conversation from cost reduction to value generations”.

Walsh adds: “Calculating time savings on code generation is a good place to begin building a more robust value story. To convey the full enterprise value story for AI code assistants, software engineering leaders should connect value enablers to impacts, and then analyse the overall return to the organisation.”

 


Kindly share this post
Continue Reading

Trending