E-Business
Infosys Partners CWG on Finacle 10 Banking Solution
Infosys Technologies in conjunction with Computer Warehouse Group (CWG) has announced the launch of Finacle 10 universal banking solution, to the West African banking industry.
In an event last week in Lagos, the company disclosed that 7 tier-1 and tier-2 banks around the world have already subscribed to the software, to power their domestic and international operations; a move which reinforces Finacle’s global leadership in banking transformation.
Amit Dua, associate vice president, Infosys, said Finacle 10 will enable banks to transform their multi-country operations through a standard platform and processes, adding that a set of 5,000 parameters and an enhanced scripting studio will deliver rapid product innovation.
He informed that Finacle 10 also features a whole new set of offerings including Islamic banking, wealth management and an improved mobile banking solution.
Dua said: “Finacle’s powerful architectural foundation enables banks to rapidly respond to changing customer demands and a competitive market landscape.”
“We have invested over $60 million in the last 3 years to build a state-of-the-art banking solution and our strong commitment towards the West African market, along with strong alliances for surround implementation services, offers banks a truly differentiated offering.”
In his address, Austin Okere, group managing director and CEO, CWG, said his company and Infosys have had a long standing partnership for the West African region; working together in sales and support of banking solutions for some banks in Nigeria.
He informed that Finacle has been deployed in 9 Nigerian banks namely: First Bank, UBA, Oceanic Bank, FCMB, Fidelity Bank, Spring Bank, FinBank and Equitorial Trust Bank; as well as Union Homes and BPI Bank in Ghana.
“Utilizing CWG’s world-class system integration services and infosys’ portfolio of banking solutions and services, the two companies help banks address changing business and technology cycles and assist them in achieving and sustaining a unique competitive advantage,” Okere continued.
The CWG boss said that his company has scaled up to become a strong Finacle sales and support hub in the West African region, partnering the post-consolidation mega banks to achieve their goals.
He said that Infosys has demonstrated her commitment to the West African region through significant presence and skills transfer. “There is always an Infosys support engineer in the country, as there is always a CWG engineer sitting at the global helpdesk at Bangalore.
Finacle has made an inroad into 61 countries across the globe and has been acknowledged by top analysts including Gartner, Forrester and Celent, among others in the core banking solution space.
E-Business
OpenAI CEO Rejects $97.4Bn Takeover Bid from Elon Musk
![](https://www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2025/02/Open-AI.jpg)
Sam Altman, chief executive of ChatGPT-owner OpenAI, has firmly declared the company “not for sale” following a $97.4bn (£78.4bn) takeover bid from a consortium led by Elon Musk.
![OpenAI CEO Rejects $97.4Bn Takeover Bid from Elon Musk](https://i0.wp.com/www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2022/04/Elon-Musk.jpg?resize=563%2C229&ssl=1)
Elon Musk
Speaking at the AI Action Summit in Paris, Altman emphasised OpenAI’s mission to develop AGI (artificial general intelligence) for the benefit of humanity.
Marc Toberoff, attorney for Elon Musk, confirmed the bid submission on Monday.
In response, Altman humorously offered to buy Twitter for $9.74 billion on Musk’s platform.
Unlike many tech giants, OpenAI is not publicly traded but operates through a complex partnership between non-profit and for-profit entities.
Musk aims to return OpenAI to its non-profit roots, despite owning a rival firm, xAI.
Christie Pitts, a tech investor, expressed scepticism about Musk’s intentions, noting his competitive interests.
Altman echoed this sentiment, suggesting Musk’s move disregards OpenAI’s mission.
Altman, who holds no stock in OpenAI, advocates transforming the organisation into a fully for-profit company to raise more funds for AI research.
Although the board has the final say, the $97.4bn offer falls short of OpenAI’s previous $157bn valuation and rumoured $300bn in future funding talks.
Toberoff stated the consortium might increase their bid. Meanwhile, OpenAI is collaborating with Oracle, a Japanese investment firm, and an Emirati sovereign wealth fund on “The Stargate Project,” a $500 billion AI infrastructure initiative announced by President Donald Trump.
E-Business
Adobe Launches AI Video Tool to Compete with OpenAI
![](https://www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2025/02/Adobe-logo.jpg)
Adobe yesterday released the first public version of an artificial intelligence tool that can generate video clips and revealed how much it will charge, but said it will not set pricing for major users such as studios until later this year.
The Firefly Video Model, as Adobe is calling the service, will compete against Sora, a model developed by ChatGPT creator OpenAI, and startup Runway, both of which currently offer video-generation services. Facebook owner Meta Platforms has also developed a video-generation AI model but has not given a timeline for when it will be released.
Adobe’s model differs from its rivals because it is geared toward generating clips that will fit into how film and television studios use Premiere Pro, its flagship video editing software.
To that end, many of the features that Adobe is emphasizing revolve around feeding existing shots into the video model and asking it to generate clips that fix or expand on shots that were taken on a real production set but that did not come out quite right.
Adobe said the service will generate five-second clips at 1080p resolution. While that is shorter than the clips of up to 20 seconds generated by OpenAI’s service, Adobe executives said the majority of individual clips in most productions are only three seconds.
Adobe said a user can generate 20 clips per month for $9.99 and 70 clips for $29.99. That compares with 50 videos for $20 per month with OpenAI’s plan at lower resolution and a $200 OpenAI plan that can handle longer, higher resolution videos.
Adobe is also working on a “Premium” pricing plan for studios and other high-volume video users and will release those pricing details later this year. Alexandru Costin, Adobe’s vice president of generative AI, said the company is working to generate 4K video and will remain focused on quality rather than longer clips.
“We actually think that great motion, great structure, great definition scheme, making the actual clip look like it was film, is more important than making a longer clip that’s unusable,” Costin told Reuters.
E-Business
GSMA Launches Innovation Fund to Boost AI Solutions in Emerging Markets
![](https://www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2024/07/GSMA.jpg)
GSMA Innovation Fund for Impactful AI has been unveiled, marking a significant initiative aimed at empowering small and growing enterprises in low-and middle-income countries (LMICs) across Africa, South Asia, Southeast Asia, and the Pacific.
This fund is designed to foster AI-driven innovations that tackle critical socio-economic and climate challenges, helping underserved regions unlock the transformative potential of artificial intelligence.
Artificial intelligence has proven its ability to address pressing global issues, from precision agriculture and renewable energy to remote healthcare and financial inclusion.
Yet, LMICs remain underserved in funding and resources, with only a small percentage of global grants directed toward locally-developed AI solutions.
Despite the growth of AI-driven technologies, these advancements are often not tailored to the unique needs of local populations in LMICs.
The GSMA Innovation Fund seeks to close this gap by identifying, testing, and scaling impactful AI solutions that are contextually relevant and capable of delivering measurable socio-economic and climate benefits.
In partnership with the UK Foreign, Commonwealth, and Development Office (FCDO), the GSMA Innovation Fund provides a comprehensive support package to selected enterprises. Key benefits include:
Grant Funding: Ranging from £100,000 to £250,000 for projects lasting 15–18 months.
Tailored Venture Support: Guidance to strengthen business models and improve scalability.
Partnership Opportunities: Facilitation of collaborations with mobile operators, public sector organizations, and other stakeholders.
Peer Learning: Platforms for exchanging knowledge and best practices with other innovators.
Visibility and Exposure: Access to GSMA’s global events, publications, and online platforms to connect with potential investors and partners.
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