The Nation Newspaper

Tag: Digital

  • Stanbic IBTC unveils 24-hour digital branch

    Stanbic IBTC unveils 24-hour digital branch

    Stanbic IBTC Bank has commissioned her first self-service digital branch, delivering the transformational power of digital technology to drive optimal financial services in Nigeria.

    The flagship digital branch inauguration took place in Lagos on aDecember 14, with technology business pioneer, Leo Stan-Eke, founder of Zinox Technologies Limited, declaring the facility ready for business. Located at Maryland Mall, right in the heart of Lagos, the branch’s processes and systems are completely digitalised and equipped with tablets, touch screens, electronic banking devices and new digital technologies set up in designated self-service and private areas to enable customers conduct financial transactions seamlessly while enjoying a delightful banking experience.

    Among other facilities available at the branch are automated teller machines, bulk note acceptor, personal teller machine, smart table, self-service kiosk, self-service smart tablets, Internet banking kiosk, and instant debit card issuance machine.

    Chief Executive, Stanbic IBTC Bank, Yinka Sanni, said the digitisation of banking services is the path to the future as consumers increasingly embrace the online world to meet their needs. The benefits of digitalisation and innovation are huge for the individual, business or economy, Sanni stated, adding that as technology evolves, Stanbic IBTC Bank will keep pace with it to deliver impeccable value to its customers.

  • ‘Digital financial services to cut banks’ cost by 90%’

    Digital financial services have the potential to cut the cost of providing financial services by 80 to 90 per cent and create three million new jobs by 2025, the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele has said.

    Speaking yesterday at the 2016 BusinessDay Financial Inclusion Summit held in Lagos, said that financial inclusion has evolved as a key topic on the global development agenda over the last decade.

    He explained that its importance has grown substantially over the last years, which is reflected in the growing number of academic studies showing its positive effects.

    Emefiele said that financial inclusion is required to enhance incomes, investment and well being at the household level. It is also critical for economic growth and financial stability at the macroeconomic level.

    He said that these gains prompted Nigeria to launch its National Financial Inclusion Strategy in October 2012 with the overall target of reducing the adult financial exclusion rate from 46.3 percent in 2010 to 20 percent by 2020. This means that by 2020, we expect that eight out of every 10 adult Nigerians should make use of at least one financial product (formal or informal).

    “Within this strategy, distinct targets were stipulated for specific elements of financial inclusion including access to electronic payments, savings, credits, insurance and pension products, among others. For instance, 70 per cent of the adult population is designated to utilize electronic payments platforms comprising cards, Automated Teller Machines, mobile money/banking and Point of Sale (PoS) channels by 2020,” he said.

    He explained that based on the bi-annual survey report routinely conducted by the Enhancing Financial Innovation and Access (EFINA), the adult financial exclusion rate had dropped from 46.3 per cent in 2010 to 39.5 percent by 2014. This is a very complimentary and favorable development.

    “However, in order to achieve the defined target for 2020, the extant rate still needs to be halved. This requires stronger and systemic efforts by all stakeholders. This is where digital financial services, the focus of today’s summit, become germane,” he said.

    “Digital financial services refer to financial services, such as payments, savings, loan or insurance products, which are provided through electronic platforms, such as mobile phones, the internet, or electronic cards. Digital financial services can promote financial inclusion, because they are capable of dismantling the existing barriers to financial inclusion. One key barrier to financial inclusion, as defined in Nigeria’s National Financial Inclusion Strategy, is the remoteness of access to financial services,” he added.

  • Reference Nigeria goes digital

    Reference Nigeria newspaper has been repackaged as an instant news portal @www.referencenigeria.com to meet the need for an online market thirsting for instant news and information.

    A statement by the management said: “the change at Reference Nigeria is not just about form, it is more importantly about enhanced focus on its core interest of consumer reporting.

    “The repackaging comes with capacity upgrades in technology and human capital.”

  • Digital tech: The next frontier

    If the message from the Presidential Villa, Abuja last Tuesday is anything to go by, the lives of Nigerian youth will soon change. They have not only been challenged to gear up for the digital world, they were told to be ready to overtake their counterparts in developing countries like India that have already progressed ahead of Nigeria in digital technology over the years. Not only are the Nigerian youths expected to forge ahead of their counterparts in other developing economies in the digital field, Nigeria is already planning to make it a source of foreign exchange earner by exporting human capacity in technology.

    In this direction, the Federal Government through the Office of the Senior Special Assistant to the President on Sustainable Development Goals (SDGs), Princess Adejoke Orelope-Adefilure, in conjunction with Google at the State House, Abuja commenced training of 400,000 Nigerian youth. The training based on the theme ‘Diversifying the Nigerian Economy: Enabling Youth through Digital Skills Training’ was expected to train the youth in the areas of content creation, application development, web design, social media and digital strategy.

    The training, which is to boost youth employment, is expected to contribute to the national plan, especially to the economic development.

    Apart from acquiring skills to do business and create more job opportunities, the youth are expected to be able to train others. The youth, at the end of the training, are also expected to start working towards creating something positive and yet-to-be-seen or imagined by the technology world, far beyond facebook, Uber, Jobberman, Iroko Tv and others.

    Besides the training, the Federal Government, in partnership with other bodies, is establishing technology hubs across the country, with two super hubs in Lagos and Abuja and six regional hubs in the six geo-political zones.

    While the hubs are expected to have infrastructure and capacity building tools, they are to be designed to produce relevant innovative technology, solutions to a wide range of business, commercial and government problems.

    Another 65,000 Nigerian youth are also expected to be trained this year in hardware and software services including animation as provided for in the 2016 Budget. These youths at the end of the day are expected to build, assemble hardware and to write innovative programmes.

    Flagging off the Google Digital Training for Youth Empowerment, Vice President Yemi Osinbajo said: “The future has certainly arrived and it is a future that has come bearing great hope.

    “Today, technology has opened mind-bugling opportunities in commerce, in science and medicine and practically all aspects of human endeavor. Today technology has created space for millions of business opportunities. Just by being able to virtually connect millions of people, the internet has changed the business landscape and empowered any one with great ideas and any smart handheld device.

    “It is in recognition of the central role of innovation and technology in our national economic growth plan that the federal government in the current budget provided extensively for technology and innovation. One thing that I want to assure you today is that we are all together determined to make sure that we give every opportunity that is possible to the youth in technology and innovation. I can assure you that the next few years are going to be great indeed,” he added.

    To make sure other youth in remote areas are not left out of the training, stakeholders at the flag-off ceremony also harped on the need for the training to be taken to the grassroot and not a one off thing in Abuja. Getting these right will go a long way in taking Nigeria out of the woods especially technologically more so as the economy is battered by the falling prices of oil in the international market. Again, it is high time Nigeria becomes a force to be reckoned with in the technology world.

     Rewarding excellence

    Hearing ‘Aso Villa Demo’ for the first time may be mistaken for a name of one of the new football clubs in Nigeria. But it is far from that, as it is mainly concerned with encouraging innovation and technology in Nigeria. The name however had some semblance with football clubs as it encouraged, just like football, ‘competition’ but this time in technology among Nigerian youths.

    To this end, the old Banquet Hall of the State House, Abuja last Friday hosted the Aso Villa Demo Day, which was the final event for the competition among 4,000 youth groups in the country. Before Friday, 30 of them had emerged winners from competitions in Lagos, Port Harcourt and Abuja. Among the 30, three top winners of the competition including Tracology, Recycle point, and Mass shuttle were announced to the public at the Presidential Villa, Abuja on Friday.

    The three winners did not only had the opportunity of having the presence of the Chief Executive Officer and Co-founder of social networking website, Facebook, Mark Elliot Zuckerberg at the occasion, but they met and took snapshots with President Muhammadu Buhari in his office.

    The three winners also got monetary rewards from Airtel, which announced N3 million for each of them, Sahara Energy announced N500,000 each for them, while Dell also announced undisclosed amount for the winners.

    Osinbajo said at the event: “This is the first Aso Villa Demo Day but the next year will be bigger and better. I’m sure you are going to have a great future and I certainly look forward to working with you as part of the government of Nigeria to ensure that all that your talents and abilities are put in the best possible use and we I’ll support you all the way,” he added

     

  • Going digital

    Some Nigerians were irked that the Federal Executive Council (FEC) met last Wednesday for about two hours and only discussed how to transform Nigeria from analogue to digital broadcasting before June next year. Those Nigerians expected that the FEC should have focused on those issues that would immediately ameliorate the economic hardship in the country.

    To them, digital broadcasting should be at the bottom of the  government’s priorities as the battle to stay alive, keep healthy, feed well and meet shelter and clothing needs, among other burning issues.

    But the Council which aimed to beat the International Telecommunications Union (ITU)  June 2017 global deadline for broadcasting changeover to digital, believed that the process will go a long way in putting food on the tables of some Nigerians through employment generation.

    Nigeria, which officially started digitisation of its broadcast industry in December 2007, following the late President Musa Yar’Adua’s approval, directing the National Broadcasting Commission (NBC) to set in motion and pilot the programme towards the target date, have many times witnessed shift in the global changeover date.

    Operating under the analogue system over the years, has been claimed not to be too beneficial for the Nigerian economy.

    Many countries which have already recognized the huge benefit of digital broadcasting have been making great efforts to beat the deadline by shifting from analogue broadcasting to digital broadcasting. While digital broadcasting is different in many ways from analog broadcasting, the major difference is said to be in the transmission of the signal.

    The signal for digital television is transmitted in four different ways including cable, satellite, digital terrestrial television and telephone connection (DSL).

    Some of the changes that also go with the transition include changing the transmission signals and making members of the public get rid of standard definition television sets and going for high definition television sets.

    Television sets that receive analog signals via antenna may be out of place in the digital era, while those that receive cable and satellite signals will still receive signals from digital transmission.

    As a way forward, old television antennas, in some cases, will need to be upgraded to meet up with new technology in order to function optimally.

    While there are also fears in some quarters that the transition to digital broadcasting in Nigeria will automatically end free television programmes, this however has not been the case in many countries that have changed over.

    One of the factors that was said to be working against the transition of digital broadcasting in a developing country like Nigeria is poverty as the digital transition is said to be very expensive.

    Poverty among the citizens of developing countries also make them unable to afford television sets that efficiently receive digital broadcast signals.

    Another factor that have prevented a shift to digital broadcasting in Africa is the lack of trained personnel as manpower on ground is already trained to handle analog broadcast equipment.

    Awareness about digital broadcasting is also very low in developing countries like Nigeria. Most public officers in many developing countries also do not think of the pubic good and are rather evolving schemes to divert public funds into private pockets.

    So most governments in a developing economy lack commitment to ensure transition from analogue to digital. Despite these challenges in the developing countries, Nigeria is not only determined to meet the deadline next year but has set aside resources to achieve the aim.

    FEC last Wednesday directed relevant Ministries, Departments and Agencies (MDAs) to collaborate effectively to ensure that Nigeria does not fail to meet the June 2017 global deadline.

    Minister of Information, Lai Mohammed at the end of the meeting said: “One single council memo was considered and that council memo was a note in respect of an update from my ministry in the process of migrating from analog to digital broadcasting, as you are aware the ITU gave a deadline to migrate from analog to digital broadcasting June 2017.

    “Already the pilot scheme in jos which was successfully deployed at the end of April is working very well and today those who are in possession of our set up boxes can view 15 channels with clarity in Jos.

    “And the highlights of today’s council meeting is that council reaffirmed its support for us to meet the deadline of 2017 June and directed that the relevant ministries work together to achieve these deadline.

    “Yes Nigeria might be going through a very difficult time it doesn’t mean that we are going to be cut off from the rest of the world. 20 years ago Ethiopia had a famine that ravaged the whole country they have risen from the ashes of that famine to become one of the strongest economies of the world.

    “The fact that we are facing temporary problems does not mean that we are not going to be at pace with technology development all over the world. This is a global issue, it simply means that if we do not move from analog to digital broadcasting we may not be able to even receive signals on our televisions.

    “Look at the opportunities it offers our young men who are very talented to provide content to television stations. So it’s going to impact very largely on the broadcast industry, even piracy which has been a menace to us today, with digitalisation it means that musicians and film makers can release their films or records direct on digital broadcast such as video on demand and we are now going to cut off the entire pirate network which has been a bane to our creative industry.

    “If we look at the advantages of digitalisation in terms of changing the entire economy of providing more jobs for the people, even the 13 manufacturers of set up box who have been licensed, two of them already are producing are also going to employ but I think that the fact that we have a temporary setback does not mean we are going to be cut off from the entire world,” he added.

     

  • Digital labs’ll transform education, says Topteck chief

    The use of modern digital laboratories in educational institutions will boost teaching, learning and research experience of students and teachers, and transform the ailing education sector, Managing Director, Topteck Services Limited, Mr. Olu Babatunde has said.

    Speaking at a news conference in Ibadan, Oyo State, during the unveiling of the lab in Impact School of Language Studies (ISLS), an arm of Impact Business School in Ibadan, he said the technology installed by Toptech in partnership with Robotel Inc., will take the teaching and learning of local and foreign languages to new heights.

    Robotel Inc. is an educational technology vendor based in Montreal, Canada. The firm manufactures and markets classroom management systems and language learning platforms across the globe. The facility the firm installed in Impact Business School came complete with computers, headsets with microphones, and an assortment of interactive multimedia programmes, including voice-recognition and recording software.

    Babatunde, who is also Robotel Manager in West Africa, said Impact Business School was an addition to the growing list of educational institutions in Nigeria, adding that the school has taken advantage of the technology since 2014 when Robotel birth its innovative products in Nigeria and West Africa.

    He said following the response by educational institutions in Nigeria, Topteck and Robotel are already expanding their tentacles through installing language laboratories in various institutions within the country, adding that plans are ongoing to expand beyond Nigeria.

    According to him, Robotel Inc., working with Topteck, had in December 2014 installed language laboratories in Adeleke Univerity, Ede, Osun State, which is the pioneer Robotel installed laboratory in Nigeria with 10 +1 workstations. This was followed by Babcock University, Ilisan, also in Ogun State. He said Topteck also recently delivered the Redeemer’s University language and digital laboratory, with 30 + 1 workstations. “Others, which are work in progress, include Mountain Top University; Uthman Dan Fodio University, Sokoto; University of Nigeria, Nsukka; Nnamdi Azikwe University, Awka; and Moshood Abiola Polytechnic, Abeokuta, Ogun State,” he said.

    Founder/Chief Executive Officer (CEO) of Impact Business School, Mr. Owolabi Oladejo, said the school’s faculty members now take pride in their innovative approach to language study in which they combine the practice of language, the spirit of cultures, and the teaching and learning processes associated with the understanding and application of languages.

    According to him, the facility which is also available for students of Impact School of Broadcasting and Communication (i-SBC), an arm of Impact Business School, encourages constant oral practice in the classroom by engaging students in a continuous exchange with the teacher.

    Oladejo said the innovative technology has enhanced the ability to communicate in the dominant international languages noting, this means better job opportunities worldwide.

    “As a result of the growing need to be multi-lingual, ISLS provides students with an opportunity to learn dominant international languages quickly in a safe and friendly environment,” he said.

    He added that with the language lab, the school believes that language training will help strengthen relationship within the global community, help individuals to diversify their skills and improve the economy.

    He noted that one of the unique things about the technology is its flexibility, saying it allows teachers assign in-class activities such as pairing and recording, where all students are able to speak concurrently.  He said the technology would also enable self-study activities to be assigned as homework to further increase practice time and there is also opportunity for Internet-based home study.

     

  • Lagos launches website for state laws

    The Lagos State Government on Sunday announced the launch of an online platform where lawyers, investors and the public can have access to all the laws of the State.

    The State’s Attorney General and Commissioner for Justice, Mr. Adeniji Kazeem, in a statement on Sunday, said the digital platform which can be accessed via www.laws.lagosstate.gov.ng, was the first of its kind in the country.

    He said the online platform was in fulfillment of the obligation of the State Government to create easy access to the State laws thereby promoting accountability and responsibility, and enabling investors to make informed decisions about their investments in the state.

    He said: “This project is geared towards the commitment of the administration of Governor Akinwunmi Ambode to drive governance and administration of justice in the state through innovation and information technology.”

    While noting the effectiveness of the digital platform, the Commissioner encouraged lawyers and the entire public to visit the site to view the laws and make their purchases.

    He added that the online platform would enable people to search, view and download the laws of the state anywhere in the world by just the click of a button.

    Other features available on the site, according to Kazeem, is that online users will not need to upload all the 233 (Two Hundred and Thirty-Three) Laws, but would be able to purchase and download only the Laws relevant to them.

  • Real estate gets digital platform

    Real estate gets digital platform

    A premier online market place, Lands.ng, has been launched to lead  a digital revolution on the real estate industry.

    With over 1.4 million plots uploaded, more than 250 registered and certified agents, multiple enquiries from over 12 states, the platform is set to revolutionise the sector.

    Its founder/Chief Executive Officer (CEO), Mr. Godwin Ani, said the e-commerce platform would create a secure and conducive online destination and ecosystem for buyers, sellers, land owners and realtors to connect, make informed decisions and connect with ease.

    He said the decision to create the premier platform was aimed at “removing the barriers to land ownership and starts with providing Nigerians the right information and a secured platform for interactions among land owners, agents and buyers.

    ”At Lands.ng, we are using technology to revolutionise the way Nigerians think about real estate – land value chain in particular, and thus providing a long term solution to the home ownership challenges and the living standard of our society,” he said.

    With increased penetration of digital technology, and new owners and investors coming into the land market, he said there is – more than ever – a need for a more robust offering for connecting investors, buyers and sellers, which is what Lands.ng has been addressed with its introduction of advanced technology and security features, a product of its strategic involvement with Ade Digital Media, a leading Digital Marketing Agency in Lagos, Nigeria.

    Also, the Co-Founder/CEO, Ade Digitial Media, Mr. Michael Ebia, said the new platform’s success would rely on technology.

  • Celebrating a ‘digital’ governor

    Born into relative obscurity and depressing abjection 48 years ago, Governor Ben Ayade is tellingly one part of the portrait described by Malvolio in Shakespeare’s “Twelfth Night” about ‘some who are born great, some who achieve greatness and some who have greatness thrust upon them’. For Ayade, he falls into the second part.

    Against the background of the anonymity of birth, the then little Ayade was under no illusion that to achieve greatness, he required a combination of education, determination and a dint of hard work, for he was not afraid of greatness.

    Born with neither silver nor wooden spoon, his future was no doubt uncharted and therefore, he would have to map it out himself.

    Undaunted by the chequered circumstance of his birth, little Ayade knew that to dream lofty dreams, dare mighty things, win glorious triumphs, he must not allow himself be ranked with poor spirits who neither enjoyed nor suffered much because they lived in the gray twilights that knew neither victories nor defeats.

    Taking his destiny in his own hands, he surmounted all the odds and obstacles by pulling down every hill and mountain that fate put in his way to achieve greatness. One lethal key, which he needed desperately was education. But it proved something of a luxury.

    By refusing to be held hostage by the financial incapacitation that afflicted his parents, he embarked on a desperate search for knowledge in order to improve his human condition as well as that of his society.

    For a man who literally clawed his way out of the jaws of poverty, there was no doubt that his narrative will form the plank of his vision for Cross River State, serving as a galvanizing tonic to turn the state into a success story, as he inched his way then into the exalted office of the governor in 2015.

    Since assuming office on May 29, 2015, he has brought his vision, passion, humanity, pedigree, and above all, his nimble and Midas touch to bear on governance and the state’s socio-economic landscape. Across the 18 local government areas of the state, everyone is agreed that he was the right choice.

    Widely known with the sobriquet, the ‘Digital’ Governor, Professor Ayade cuts a special appeal. Variedly, he embodies different themes with an inimitable message of hope. For the poor, he represents meekness and philanthropy, for the aged, he symbolizes compassion, he appeals to the youth on account of his swashbuckling and zestful swag. Youths and students adore him for his intellect and bombast. And like nectar to butterflies, so is he to investors, alluringly seductive, an attraction that has continued to appeal to a vast network of global investors surging and pouring into the state.

    From the inception of his administration, governor Ayade had set his mind on staying focused on running government with a human face and ensuring that the middle class was resurrected and given the needed oxygen to find anchor for their roots; while guaranteeing that every Cross Riverian finds independence and pride for his work.

    Seemingly restless and very much in a hurry to deliver, as part of catalyzing and crystalizing this his dream for the state, Governor Ayade has his eyes on the ball and his leg firmly stamped on the pedal to harness new ideas and technology geared towards recalibrating and repositioning the state to its rightful place as the fastest growing in the country.

    While trying to give the state a first-class infrastructure such as the construction of a superhighway and a deep seaport, he is not unmindful of striking a delicate balance, or harmony, if you like between providing infrastructure and building human capacity.

    It was this creative thinking that actuated his declaration on his inauguration to make prompt payment of civil servants’ salaries one of the cardinal policies of his administration, with the insistence that a labourer deserves his wages.

    It is no longer secret that while most states in the country are grappling with or literally  asphyxiated by the pangs of payment of salaries, Governor Ayade has ensured that his civil servants are paid as early as between 25th and 26th of every month.

    This gesture has no doubt endeared him to the state’s workforce, a development they describe as rather uncommon.

    In absolute fidelity to his words that the wages of honest labour shall liberate families from the clutches of hardship and hunger, Governor Ayade, barely two months in office passed into law tax exemption bill for state workers earning below N30,000 a month as well as the exemption of levies for artisans, petty traders operating in the state.

    While this gesture has roundly been applauded and commended as governance with a human face, the real import of the concession is that it has allowed this category of workers with more disposable income to play with and by implication, leading to more empowerment for the people.

    In a bid to expand opportunities, energize the already shrinking state’s civil service, as well as chase the wolves out of the doors of many of the citizenry, the governor, after a careful consultation and deliberation with the various stakeholders in the state, took the initiative to lift the 23-year-old embargo on employment into the state civil service.

    His decision to expand government in other to reach out to as many as are desperately hopeless bears testimony to Ayade as an apostle of renowned English economist and one of the most influential economists of the 20th century, John Maynard Keynes, whose ideas fundamentally changed the theory and practice of modern macroeconomics and the economic policies of government in the 1930s.

    As part of his own sacrifice, the governor decided to shave off 80 percent from his salary in other to accommodate more people in government.

    In his determination to ramp up the economy of the state, the governor’s vast investment trips overseas have begun to yield dividends with the signing of various memorandum of understandings (MoU) with foreign investors.

    Already, a Thai Africa Consortium, which is into rice production has commenced site clearing for the construction of Africa’s first Rice City right opposite the Calabar garment factory site which is nearing completion. Similarly, an Irish property investors, Affordable Modular Homes Limited, has concluded agreement to construct 5000 modular housing units to be spread across the three senatorial zones of the state for the non-income and low-income earners in the state.

    What more can the people ask for! Following immediately on the heels of this, was the signing of a memorandum of understanding (MoU) with Cavenco of Spain for the establishment of an US$18million automated poultry and dairy plant with capacity for 100,000 birds per day. The initiative is to boost animal and dairy production in the state.

    Currently site clearing is also at a fever pitch for the proposed Calabar Pharmaceutical Company, among other investors scrambling for a space in the already charged investment climate of the state.

    As he clocked 48 yesterday, a lot can still be learnt from Ayade’s narrative. A retelling of countless stories from his life of humility and philanthropy, offering generous inspirational material to draw from.

     

    • Obogo is Media aide to Governor Ayade
  • Mobile money: Digital transfer is the future

    Mobile money: Digital transfer is the future

    Gabriella Poczo is the Chief Technology Officer of WorldRemit, a global money transfer company. She explains the company’s commitment to ensuring that money transferred across the world is sent digitally as mobile airtime top up, bank account transfer or as mobile money. Poczo tells COLLINS NWEZE that WorldRemit offers same-day transfers to banks in Nigeria from more than 50 countries, adding that there are more ways to receive money digitally.

    Global trends in connectivity show that the future of financial services will be mobile. For Gabriella Poczo, the Chief Technology Officer of WorldRemit, the company’s goal is to help people use online services to send money to friends and family living abroad, using the computer, smartphone or tablet.

    On online transfers, Poczo said WorldRemit is built on strong partnerships with banks, telcos and other pay-out networks.

    “Our service connects to a myriad of different payment systems, both in the send and receive countries. Technically, that means allowing our partners to query our systems through an API, processing transfers as quickly as possible, and updating both senders and recipients about the progress of their transfers. Sometimes that requires “high touch”, especially when we are dealing with partners at different levels of technical sophistication,” she said.

    She said remittances are one of the last frontiers of the internet, adding that in a world where one shops online, books travel online, or listens to music online, people have begun sending and receiving money online.

    “Right now, the vast majority of remittances are still sent and received at bricks-and-mortar agents. WorldRemit is built to disrupt this archaic industry, and take sending money online. With us, all money transfers are sent digitally, and a growing proportion are received digitally – as mobile airtime top up, bank account transfer or as mobile money,” she said.

    Poczo, one of Silicon Valley’s engineering heads, who oversaw Skype’s move from desktop to mobile, was hired by WorldRemit to revolutionalise its mobile money services.

    Her appointment underlines WorldRemit’s status as the leading player in mobile money transfers – with a mobile-first strategy for senders and the largest selection of mobile money wallets for recipients.

    “This company is so far ahead of the game in terms of mobile money transfers. While others are still talking about the opportunity, WorldRemit is sending hundreds of thousands transactions to mobile devices across Africa and Asia,” said Poczo.

    “They know this space better than anyone. Now it’s time to take our service to the next level – integrating more Mobile Money partners, and providing enhanced apps for our senders.”

    On the global mobile money integration and the impacts on emerging markets, Poczo said there are more than 260 mobile money services in the world, the vast majority of which operate in emerging economies and have seen rapid growth.

    “Across many emerging markets, there are two billion people who don’t have a bank account today, and Mobile Money will be their first and only means of accessing financial services. With a few exceptions, however, those services are for domestic person-to-person transfers only. There is no underlying infrastructure to move money from a VISA card in the United States or in the United Kingdom, to an MTN mobile wallet in Tanzania, for example,” she said.

    “So that’s where WorldRemit is offering a convenient solution to connect Diaspora communities with mobile wallets back home in emerging markets”.

    On the strength of WorldRemit’s Application Programming Interfaces (APIs) and what distinguishes them from those of other competitors, she said the company’s focus on a mobile experience is unique and simple.

    “We have used our APIs and our platform to directly integrate with a large number of mobile money services – offering customers the option of sending money instantly from a Smartphone to a mobile wallet. We have a large, truly global footprint, allowing people to send money from more than 50 countries to over 125 destinations,” she said.

    “Our strength lies in simultaneously offering the technology as well the robust compliance platform to potential partners. As a financial services company, we are heavily regulated and compliance factors in as an integral part of our technical development process. Technology ultimately allows us to scale many of the compliance checks we are doing for our customers”.

    As the CTO of WorldRemit, Poczo said he mission is to enhance the use of instant messaging and Voice over Internet Protocol services like WhatsApp, Viber, or Skype have fundamentally changed the way we communicate and connect with people.

    “Compare that to today’s financial services, which have remained archaic and cumbersome. People genuinely still fill out paper forms or queue in line, when they really shouldn’t have to. WorldRemit has the technology in place to offer a financial service on par with today’s communication technology – we make sending money as easy as sending an instant message,” she said.

    “And it doesn’t stop there: We are continuing to improve on the user experience to offer customers the service they want – quick, simple, and intuitive”.

    Speaking further, she said WorldRemit is already ahead of the game in remittances to mobile money. “We have the largest market share in international remittances going to mobile wallets, and have secured the right strategic global partnerships to keep our momentum. At the same time, we are poised to expand our partnerships with Mobile Money services across the world,” she said.

    “There are more than 260 live services – and we want to partner with all of them. Already, we have set the standards to scale our integrations, and we have a fantastic track record: We’ve seen double-digit monthly percentage growth with existing partners”.

    She explained that sending money home has for too long been a frustrating experience for migrants. The company, she said, is using technology to bring real change to an industry where migrants have traditionally faced high fees, costly trips to high-street agents, long queues, and disappointing customer service.

    “WorldRemit lets people use an app to send money – and customers love it. One of our customers recently said that being able to send money instantly makes her feel like her friends are “right next to her.”

     

    Mobile money challenges

     

    Poczo admitted there are challenges ahead for the company’s partners in the mobile money space. However, she said telcos are increasingly investing in better infrastructure and laying the fibre to expand coverage and bring down the cost of data.

    At the same time, we also need more education on the security and ease of use of Mobile Money. Consumer awareness will in turn drive increased demand for better connectivity on mobile devices.

    She said the company launched low-cost money transfer in The Gambia and Burundi. According to her, the company already has on offer, same-day transfers to banks in Nigeria from more than 50 countries, and we are always looking to expand our service by partnering with new correspondents and offer more ways to receive money.

    She said mobile money service providers have a big role to play in raising awareness and educating customers about the convenience and security of mobile money.

    “In countries where WorldRemit sends to mobile wallets, we help increase the viability of Mobile Money as a service. International remittances can help overcome the problem of getting money into the digital ecosystems: Compared to a small peer-to-peer transaction of $10 or $40, the typical international remittance transfer is between $200 to $300,” she said.

    Poczo says WorldRemit already sends to 12 mobile money services across Africa. “In Zimbabwe, where we partner with the successful EcoCash wallet, more than 80 per cent of our transactions go to mobile phones. In Kenya, the huge success and adoption of MPesa has meant that more than 90 per cent of transfers go to mobile money,” she said.

    “At the same time, we have also been expanding our Mobile Money partnerships beyond Africa: In recent months, we launched instant transfers to mobile wallets in Armenia, Fiji, Samoa, Sri Lanka, and Tonga”.

    She said mobile money has grown exponentially all over the world. “Active users of mobile wallets have shot up from only 30 million in 2013 to more than 100 million at the end of 2014. Mobile money already is WorldRemit’s fastest-growing receive option and we fully expect growth to continue,” she said.

    “The growth of active users of Mobile Money, along with increasingly affordable smartphones and data connections, will only make it more attractive to send money to a mobile phone. We offer an industry-leading service and are primed to offer the best possible experience to new customers”.

    She said the majority of those sending money with WorldRemit already use a smartphone or tablet to make a transaction, and we already see the impact of voice and instant messaging services on recipients. “We’ve been described as the “WhatsApp of Money” in the press, which is a nice comparison. Our customers are constantly connected by messaging, and now by money,” she said.

     

    Mobile App

     

    WorldRemit recently launched the global rollout of its new mobile App, enabling customers to send fast, secure and low-cost money transfers from their Android devices. The App makes it possible for people to send money to more than 110 countries across six continents. Transfers can be received as a bank deposit, cash pickup, Mobile Money or mobile airtime top-up, depending on the recipient’s country.

    WorldRemit has gained recognition as a leading player in the shift to mobile-based financial services.

    Founder and CEO of WorldRemit, Ismail Ahmed, said:  “When WorldRemit started sending money online it freed people from transfer agents.  Our mobile App means you can now step away from the computer and send anytime, anywhere.

    “This is part of a wider mobile revolution.  On the receiving end, the number of transfers going to Mobile Money services is growing while mobile airtime top-ups are also increasing.  The future of remittances and all financial services is clearly mobile.”

    WorldRemit predicts that the majority of its customers will use the service via mobile Apps in the near future. In the UK, mobile web traffic to worldremit.com has already overtaken that coming from desktop.

    The move to mobile for remittance senders is mirrored on the receiving end with a growing number of money transfers going to mobile devices.

    In Kenya, 82 per cent of WorldRemit transfers are received on M-Pesa Mobile Money, while 60 per cent of all transfers to Zimbabwe are sent to EcoCash Mobile Money. Overall, more than 50 per cent of all WorldRemit transfers to Africa are received as mobile money or airtime top-ups.