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Access Bank Opens APIs to Developers After 48-hour African Fintech Hackathon

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Voice IT start-up has emerged winner of Africa Fintech Foundry (AFF) 48-hour Recode Nigeria hackathon sponsored by Access Bank, even as the bank allowed the software developers access to its Application Programming Interface [API] to build their solutions during the event.

This is the first time the bank would open its API to external software developers via its Paywithcapture.

The bouquet of prizes the winning team received include N1.5 million cash from Access Bank, 1 year access to IBM Bluemix artificial intelligence platform worth over N10 million, 1 year access to Microsoft BizSpark developer toolkit worth over N6 million plus mentoring from the AFF team.

To win these prizes, Voice IT designed an Android application that helps temporarily or permanently disabled bank customers to carry out transaction with the aid of a natural voice interface with artificial intelligence.

Packaged to address challenges of customer experience and value creation opportunities beyond payment in Africa, the competition received 18 teams and 70 participants who are developers, start-ups and fintechs.

The objective was to develop innovation that could help shape the future of banking.

Speaking at the event, Herbert Wigwe, Group MD and CEO of Access Bank, commended the contestants for their resilience, saying that, “Access Bank is the first Nigerian bank to fully support the hosting of a fintech hackathon. We are committed to giving our customers the best value and to supporting the fintech community in Nigeria”.

AFF spokesperson, Victor Okigbo said the participants were subjected to 48-hour intense burst of ideation and execution with teams of bankers and programmers co-creating working prototypes and experimenting with innovative customer-centric approaches to old challenges.

“The message to investors, analysts and the public is that Nigerian banks can lead financial technology ecosystem to secure future growth while creating real value for stakeholders”, he added.

Okigbo informed that hands-on solutions and APIs from IBM’s Bluemix artificial intelligence platform, Microsoft’s Azure cloud computing infrastructure and Access Bank’s digital financial services platform were available to the teams of ethical hackers.

Entrepreneur-in-Residence for AFF, Olugbenga Agboola, stated that the gesture demonstrated how the bank has shifted its focus to innovation for the benefit of their customers, adding that the “Nigerian financial services can be reshaped by leading the way with technology and creating the next generation solutions”.

Other winners are Paysense and Creative Jar. Paysense studies bank customers’ behaviour based on withdrawal, savings, spending, investments habits and frequency for effective credit scoring, financial solutions streamlining, insights and decision making with segmented data received through artificial intelligence. Creative Jar is a financial assistance that manages money, track expenses and make payments

Held at Lagos office of Access Bank and new AFF hub on Victoria Island, the hackathon witnessed 18 prototypes with three winners. All 70 participants got affiliate membership of the AFF.

 


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Expert Urges FG to Harmonise NIN, BVN to Tackle Crimes

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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.


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Konga launches Infinix Brand Week with Incredible Deals

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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.


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

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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.”

 


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