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Nigeria’s Kudimoney.com Makes Global Top 50 Digital Banks 2017 List

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Babs Ogundeyi, founder and CEO of Kudimoney.com

By peter oluka

Kudimoney.com, a leading Nigerian FinTech company has been selected in the 2017 Financial IT Top 50 Digital Banks list.

The list is compiled by Financial IT magazine, a leading voice in global FinTech, AI, Digital Banking and Blockchain.

Financial IT recognizes the top 50 global pioneers at the intersection of technology and digital banking services by publishing a report highlighting the who is who in the global digital banking industry with a brief introduction of all the companies on the list.

Kudimoney is the only Nigerian company, and one of two African companies to make the list.

FinTech companies are non-traditional financial institutions that are using technology to disrupt the financial sector. They are actively developing new technologies to push for the transformation of the financial services industry and are proactively exploring and adopting advanced technologies (blockchain, machine learning) to increase efficiency in financial services. The selection criteria included an assessment of the overall impact of the digital bank.

Babs Ogundeyi, founder and CEO said: “We are delighted to be recognized as a leading pioneer in digital banking”.

“At Kudimoney we are committed to developing a digital platform that ultimately makes banking easier and more affordable for Nigerians and Africans. By running a more efficient system, we are able to offer customers more value for their money, via higher interest rates on savings and deposits and lower interest rates on loans, all with an effortless banking experience,” Ogundeyi added.

Kudimoney, recently launched its online only automatic savings product –  a savings account that allows you to automatically save little (or large) amounts of money on a periodic basis.

“By Mid 2018, Kudimoney will be a full service online only bank, offering spending accounts, savings accounts, transfers and bill payments, as well as loans, all at a significantly better value than traditional players”. Ogundeyi added.

Link to the list financialit.net/sites/default/files/top50_digital_banks..pdf

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IT Entrepreneurship

TEDxIkeja: Adeti, Inlaks CEO Shows How to Achieve Financial Inclusion in Nigeria

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By peter oluka

How the army of unbanked Nigerians could come into the formal financial space would be the subject of discussion when the CEO of Inlaks, Femi Adeoti, speaks at the 2017 edition of TEDxIkeja on October 14.

In a statement released by the curator and organiser of TEDxIkeja, Ademola Adeshola, the CEO of Inlaks, Adeoti “is passionate about financial inclusion and he would be speaking on how the army of unbanked Nigerians can be attracted into the financial net. It is an idea that resonant with the TEDx. We are glad to have Inlaks and the CEO on board”.

According to Adeshola, besides Adeoti, other influential thought leaders from different spheres of life would also share insight on how to solve the myriads of challenges confronting the globe by using native intelligence at the event.

These thought leaders include CEO of Quadrant Company, Bolaji Okusaga; Head of Digital banking, Alat, Dele Adeyinka; winner of Big Brother Naija reality show, Efe Ejemba; MD/CEO, Studio 24, Ifeanyi Oputa; CTO, Social Lender, Bade Adeshemowo.

TEDxIkeja would also feature Ade Olufeko of Visual Collaborative LLC; Comic Republic, spoken word artiste, Cherry Enterfield and others.

A TED New York licensed conference, TEDxIkeja tells native stories and showcase unusual ideas worth sharing to inspire people to change their lives, communities, and the world. Annually, the forum attracts thought leaders who offer innovation, enterprise, and optimism as antidotes to global challenges.

Themed where do we go from here, TEDxIkeja 2017 would dissect the various ugly incidences that are occurring in Europe, Asia, USA, and Africa, and offer native solution to these incidences through storytelling techniques.

Expatiating on the thought leaders expected on October 14 at the forum, Adeshola said TEDxIkeja 2017 would aggregate ideas that facilitate new thinking. Such ideas include social reputation algorithm, suspended thinking, soft power, visual metaphor, Lassa fever detecting kits, something for the girls, stories from Internally Displaced Persons [IDP] and in need of ideology.

Some of the past speakers are Mo Abudu, Joe Odumakin, Tunji Olugbodi, Yele Okeremi, Deremi Atanda, Kenny Black, and Deolu Akinyemi etc.

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IT Entrepreneurship

Five Ways To Maximize Your Mobile Data Usage

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By Gideon Ayogu

Detailed analysis of mobile data usage suggests that connectivity rates remain comparatively pricey in Nigeria.

According to the Research and Development Unit of Yudala, Nigeria’s pioneer online and offline e-commerce outfit, data has thus become a very critical commodity that must be efficiently maximized, especially in view of the tiered data plans currently used by service providers.

With the growing popularity of social media, we are in age of information overload; one in which content is not only king but also predominantly ubiquitous.

In addition to music streaming, watching videos online and other activities that drain your data, most smartphones are also loaded with tons of data-hungry apps.

If not checked, you might find your mobile data bills burning a huge hole in your expense sheet on a monthly basis. The following tips from Yudala will come in handy for maximizing data usage on your smartphone:

Monitor Your Data Usage

Most users live in fear of exhausting their mobile data before the expiration date, but with the help of some useful apps, you can now monitor and limit the amount of data used.

The best way to save data is to be aware of the activities or applications that drain your cellular data.  Most smartphones are equipped with data usage setting that enable you manage your data. Usually located in the Settings menu, you can set up alerts for when you exceed data usage for your most notoriously data-consuming apps.

Exercise Caution with Online Video Streaming

This is a known fact. But as much as we hate to admit it, the fun things consume most of your mobile data.

Excessive streaming of videos, music, high quality images or GIF files, are things you need to avoid if you really want to maximize your internet usage.

While we know these things are not entirely avoidable, there are some other ways to stay entertained responsibly. If you can’t avoid the entertainment your smartphone brings, you can set the quality at lower rates or decrease resolution in the settings menu of your smartphone.

Use Wi-Fi Connection For Updates or Downloading Heavy Content

Wi-Fi is often regarded as a blessing by most smartphone users. While access to unlimited Wi-Fi connection is still rather limited in Nigeria, there are certain locations you can count on for free Wi-Fi.

One of the most sensible ways of maximizing your mobile data usage is by setting up your smartphone for automatic updates only when on Wi-Fi connection.

This way, you get to save some significant volume of the data drain that comes with auto-updates. Furthermore, downloads of heavy contents such as videos, high-resolution images and music files should also be done when on a secure Wi-Fi connection.

Restrict Background Data

Some applications use up a lot of data even when the phone is not in use.  This is a brilliant feature of the smartphone: allowing background data to keep the applications on your phone updated. However, not every app needs to stay active at all times.

You can stop the constant update by going to your settings option to select the app you want restricted or simply disable background app refresh in your settings. This helps reduce data consumption and also preserves the battery life of your device.

1Q: Despite the anxiety over cellular data, developers have made things easy and included options that make smartphone apps less demanding.

A very good example is a cache, a hardware or software component that stores data so future requests for that data can be served faster.

The data stored in a cache might be the result of an earlier computation, or the duplicate of data stored elsewhere

These days, certain apps allow you to store data temporarily so you can cache as much content as possible. Caching is enjoyable on a Wi-Fi network which enables you enjoy preloaded content at any time, without using your cellular data.

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IT Entrepreneurship

CFA Startups Hangout Holds October 20

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By Justice Okembga

The October 2017 edition of CFA’s Startups Hangout is scheduled to be held on Friday, October 20, 2017 by 5:00pm.

An initiative of the CFAtech.ng brand, CFA’s Startups Hangout, is as a free event, where successful businessmen and women are invited to meet with Startups, who learn from them, success nuggets and pitfalls to avoid, so they can effectively run, grow and scale their businesses too,  as well as network other Startups with a view for synergy.

The Vice-Chairman, 21st Century Technologies, Wale Ajisebutu, is scheduled to speak at the event. He will be divulging the experiences he garnered on his path to success in business to the attendee Startups at the event.

Wale Ajisebutu is a Chartered Accountant by training. He ventured into the Telecommunications industry after a stint in trading.

His company, 21st Century Technologies, was incorporated in in 1997 and began operations in 1999. Today, 21st Century Technologies has evolved into a major player in the Telecommunications industry.

His clientele includes some of the largest Multinationals, Oil and Gas firms, Hotels as well as several blue chip organisations, not just in Africa, but across the world.

He is a perfectionist and gentleman to the core, who believes that Nigerians can build great companies and this is a vision he is working hard to achieve.

Past editions of the hangout had featured prominent successful Nigerian Entrepreneurs, such as Austin Okere, Founder, CWG, Banke Alawaye, Country Manager, Praekelt, Chinenye Mba-Uzoukwu, CEO, InfoGraphics, Afolabi Abiodun, CEO, SB Telecoms and Devices, Bolaji Finnih, CEO, TechPreneur Africa and Ommo Clark, CEO, iBez Solutions. Nadu Denloye, PhD, Co-Founder of Telnet and Director,CDNet, Deepankar Rustagi, the Co-founder, VConnect, Adeoye Abodunrin, ED,Xpos Technologies, Simeon Ononobi, Co-Founder, MyAdsGlobal, Helen Anatogu, CEOand Founder, iDea Nigeria, and Yele Okeremi Founder of Precise Financial Systems and others.

The October 2017 edition of CFA’s Startups Hangout will be powered by TAMS and Remita.

We appreciate our sponsors and also count on the active support of more brands for the future Monthly Editions of this selfless mission to help many Nigerian Startups to learn, grow and sustain their businesses for the development of the Nigerian Entrepreneurial ecosystem in particular and the Nigerian economy in general.

We also appreciate our media partners, Guardian Tech, Nigeria CommunicationsWeek, Connectnigeria, ITPulse and cfatech.ng, for their unflinching support in sharing this rare opportunity to learn from successful Entrepreneurs to our numerous Startups.

Limited seats are available, hence, you need to register early, to book for a seat at the event.

You can register for the October 2017 edition of CFA’s Startups Hangout @ http://startups.cfatech.ng

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