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E-Business

Heritage Bank, CWG and Infosys Partner on Finacle Core Banking Solution

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Heritage Banking Company Limited, a commercial bank in Nigeria and Infosys Ltd the leading universal banking solutions provider recently commenced a partnership in which Heritage Bank would deploy Finacle as its banking solution; and Computer Warehouse Group the local business partner of Infosys in Africa is right in the middle of the coalition playing an integral role in the implementation and go-live support of Finacle solutions at Heritage Bank.

When Heritage Banking Company (HBC), formerly SocieteGenerale Bank of Nigeria (SGBN) regained its operating license from Central Bank of Nigeria, it was clear that the era of innovation has come to the Banking Financial Services landscape in Nigeria.

HBC team understood and embraced the application of technology as the engine of innovation and excellent customer service experience and hence the partnership to deploy Finacle core banking application.

Finacle core banking solution is a comprehensive, integrated, yet modular and agile business solution, addressing all the core needs of banks, in easy-to-configure modules.

Finacle provides all the building blocks of business functionality, enabling users to configure products and processes flexibly in order to adapt to a dynamic environment.

With a 360-degree single source view into customer accounts, banks can empower customers with relevant information and delight them with the right offerings, presented at the right time through the right channel.

Heritage bank is being empowered to create a differentiated customer experience through personalized offerings, bundled products and an enriched segment-specific portfolio. The solution’s proven scalability and support for true 24X7 multi-channel transactions, added to its keen understanding of the banking context in Africa will power the bank’s determined growth plans.

Mr. Ike Williams, chief information officer, HBC noted in his statement on this solution that the HBC team are optimistic that Finacle Technology platform will drive their banking innovation, and position them as the best in Electronic banking in the markets, whilst also creating added value and banking convenience for their customers across Nigeria. “

We intend to make a difference… Deploying innovative solutions that make our business and operations unique, accessible, customer-friendly, reliable and secure, is a continuous process for us, and we will not relent in that drive.” He said.

Mr. Femi Ibine,  software Division head of CWG,  said; “We are delighted to be a part of this success story and are strongly committed to ensuring that Heritage Bank is among the other Finacle customers in Africa, who enjoy the superb after sales support services CWG local team provides from her 24×7 Support Hub located in Lagos, Nigeria”.

According to Austin Okere, CEO, Computer Warehouse Group; “This partnership is indeed a stepping stone and confirmation of HBC’s determination to deliver excellent customer service that will truly harness their customers’ wealth and grow it for today and future generation as quality banking technology like Finacle is a necessity to achieving and exceeding customers’ expectation.”

He also affirmed that CWG as usual, will give HBC unreserved support that will ensure superior competitive advantage for Heritage Bank in the Banking sector.

Computer Warehouse Group PLC (CWG) is a Technology enabler to businesses across multiple sectors in Nigerian and Africa. With staff strength of over 650, and customer base spread across the blue chips, Computer Warehouse Group has earned a reputation for dedication to customer service excellence


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E-Business

Amazon CEO Says AI will Reduce Number of Workers Needed

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Amazon’s management on Wednesday said that it expects that artificial intelligence software will reduce the number of office workers at the world’s largest online retailer.

Amazon CEO Says AI will Reduce Number of Workers Needed

Andy Jassy, chief executive, Amazon

“We will need fewer people doing some of the jobs that are being done today and more people doing other types of jobs,” Andy Jassy, chief executive, Amazon  wrote in an email to employees.

He said it was difficult to predict how the overall workforce will evolve, but in the next few years, it is expected that AI efficiency gains will lead to a reduction in the number of office workers.

According to earlier reports, Amazon employed around 1.5 million people worldwide, with approximately 350,000 office employees in various roles.

The Wall Street Journal reported that the company does not anticipate further large-scale layoffs, as seen in 2022 and 2023, in the near future.

Instead, it expects that vacant positions will not be refilled.

However, layoffs are not ruled out, according to sources familiar with the matter.

“Amazon is focusing on so-called AI agents, software capable of independently performing tasks. These agents could, for example, summarise information from the web and data sources, write software, translate languages and automate many time-consuming tasks,” Mr Jassy explained.

“Agents will be teammates that we can call on at various stages of our work,” he added, urging employees to experiment with AI whenever possible.

The impact of AI on the job market has been a concern for many years.

Recently, Spotify, the leader in music streaming, announced that teams requesting additional staff would first need to prove that AI could not perform the tasks.

The creators of the language-learning app Duolingo plan to gradually replace external workers with AI.

 

 

 

 


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E-Business

BPP Partners NDPC to Strengthen Data Protection

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Dr Adebowale Adedokun, director-general, Bureau of Public Procurement (BPP), has reaffirmed the bureau’s commitment to data protection in Nigeria.

BPP Partners NDPC to Strengthen Data Protection

He disclosed this in a statement at the weekend by Zira Nagga, head of Public Relations, BPP, following a courtesy visit by a delegation from the National Data Protection Commission (NDPC).

Adedokun stressed that data protection is vital to Nigeria’s economy and development, particularly in areas such as demography, health, education, and other key sectors.

He emphasised that no country should leave its data unprotected, as it plays a crucial role in future planning and national development.

“Data governs the world. It is essential to technological progress and must be protected for a country or business to be taken seriously,” he said.

Adedokun described the visit, aimed at fostering partnership on data policy implementation and protection, as timely and aligned with national goals.

He said the BPP would collaborate closely with the NDPC to boost data development, capacity building, and enhance the procurement system.

“The BPP will support compliance as part of the ‘Nigeria First’ Policy, although it is not a core procurement eligibility requirement,” he explained.

He suggested a hybrid training model to help build strong capacity in data protection, privacy awareness, and policy understanding.

According to him, a dynamic training approach will reduce logistics costs and improve public confidence in data safety and privacy.

Dr Vincent Olatunji, CEO, and national commissioner, NDPC, praised Adedokun and the BPP for supporting data protection initiatives.

He said the partnership supports President Bola Tinubu’s vision and will strengthen data privacy across Ministries, Departments, and Agencies (MDAs).

“The collaboration will create awareness and train BPP staff to ensure a firm grasp of data protection principles and policies,” he stated.

Olatunji said the NDPC would establish a working group to finalise a Memorandum of Understanding beneficial to both institutions.

He added that President Tinubu signed the NDPC into law on 12 June 2023 to uphold citizens’ rights and protect national and business data.

Olatunji also noted that strict legal measures were in place to enforce data protection and ensure full compliance nationwide.

Both agencies agreed to form a team to sign the MoU and focus on capacity building and data management in procurement and beyond.

 

 


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FG Mulls Fibre Optic Layout to Bridge Internet Gaps

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President Bola Tinubu said that his administration has initiated a project to install fibre optic cables across the country, aimed at enhancing the socio-economic development of Nigeria.

FG Mulls Fibre Optic Layout to Bridge Internet Gaps

His plans were contained in a speech he delivered at a joint session of the National Assembly in commemoration of Democracy Day on Thursday, June 12.

He said the fibre optic layout is part of other projects being embarked on.

“In addition, we have embarked on an ambitious project to lay fibre optic cables across the nation, a transformative step toward bridging the digital divide and fostering greater connectivity.

“This initiative promises not only to enhance the speed and reliability of internet access but also to revolutionise how businesses operate, how students learn, and how communities stay connected,” Tinubu stated.

He maintained that by extending this critical infrastructure, his government is empowering entrepreneurs, enabling digital education, and providing the tools for our youth to compete in a globalised world.

In a most recent report on Internet connectivity, The ICIR pointed out how Nigeria has faced setbacks in its deployment of fibre optic cables and needs a transformation.

The challenges revolve around vandalism, inadequate coordination between road construction and telecom infrastructure, and varying right-of-way (RoW) charges across states.

Among industry experts, these issues impact network outages, increase repair costs, and hinder broadband expansion efforts.

It has also further threatened the digital economy, leading to slower Internet speeds, dropped calls, and unreliable connectivity among others.


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