The Nation Newspaper

Tag: technology

  • Security, technology take centre stage as ACI conference begins  

    Security challenges and the use of technology to run efficient airports in Africa will top the agenda as the Airport Council International (ACI) Regional  Conference and Exhibition begins in Lagos this week. The ACI conference is holding in Nigeria for the first time President, ACI – Africa, Saleh Dunoma disclosed this in an interview.

    Over 300 delegates from Africa and other parts of the world, he said, will examine issues bordering on security at airports, manpower development  and other issues that will bring about efficient airports administration.

    Describing Nigeria’s hosting of the conference as unique, Dunoma said the conference will also provide an opportunity for training for Nigeria’s aviation and airport personnel in different areas.

    He said the Training School of the Federal Airports Authority of Nigeria ( FAAN) will also be certified as a regional centre for West and Central Africa.

    Dunoma said the conference will provide a platform for experts to examine the best operational and business models for the transformation and sustainable development of African airports.

    He said serving as African President of ACI will afford Nigeria the opportunity of taking positive decisions on related to aviation both within the continent and in the world.

    According to him, Nigeria’s hosting of the conference “is a pioneer achievement as this is the first time in history that this prestigious position will be occupied by a Nigerian”.

    He said ACI had been of tremendous assistance in the certification process of the Lagos and Abuja airports through airport excellence (APEX) in safety programme which helped Nigeria to identify safety gaps in its aerodromes.

    The conference, according to Dunoma, will also provide a window for global experts to review the Airport Excellence (APEX) safety programme to be used in the certification of four international airports in Port Harcourt, Kano, Enugu and Kaduna.

    Over the years, African airports have been run mainly as government entities without the drive for profitable management.

    “This has resulted in many airports being classified as non-viable and unable to meet their operational costs. This has posed a major problem in the efficient running of nonviable airports which are unable to cater for their maintenance and operational needs thereby leading to stakeholder and customer service dissatisfaction,” he said.

    “Airports have the potential to be generators of economic growth, job creators and facilitators of international trade and tourism. To ensure these roles and continue to reap the benefits, airports must ensure sustainable development that includes the enhancement of non-aeronautical revenues as a critical component of an airport’s revenue stream and bottom line.

    “With less than 20 per cent of commercial revenue, airports in Africa must transform themselves from being not just public service providers but commercial enterprises that generate profits,” he added.

    Dunoma said ACI recognises that customers are at the forefront of every viable business, hence the introduction of the airport service quality (ASQ) programme which is geared towards engaging airport customers to access service quality.

    The sessions to be held at the conference will include, innovation in airport business, business innovation in airport retail, the future of airport tax free shops, changing leadership mindsets for succeed transformation, the future of airport charges and taxes, technology to support business transformation, and transformation in practice, among other.

  • Cisco: Technology not enough to combat cyber insecurity

    Global leader in information technology (IT) and networking, Cisco, has said technology alone is incapable of combatting the growing insecurity on the cyber space. It said rather than focusing solely on technology, people, policy and processes should be combined to make the cyber space safe for businesses.

    A Systems Engineer and Security Expert at Cisco, Tomi Amao, who spoke on the sideline of the unveiling of Cisco 2018 Annual Cybersecurity Report in Lagos at the weekend, stressed the need for the combination of the three elements in the fight against cyber marauders.

    He said businesses must adopt security measures built around a comprehensive approach across people, process, technology and policy to protect their businesses from hackers and cyber criminals.

    The Cybersecurity Report identified the evolution of ransomware as one of the most significant threat developments over the past year. The report also highlighted that malware had become more vicious and harder to combat and that attackers are developing more skill in creating malware that can evade traditional sandboxing. It also revealed that adversaries are increasingly embracing encryption – meant to enhance security – to conceal command-and-control activity and that nearly half of the security risk that organisations face stems from having multiple security vendors and products.

    General Manager of Cisco Nigeria, Olakunle Oloruntimilehin, explained the need for businesses and enterprises to adopt advanced methods of cybersecurity. He said: “Security is getting more complex and the scope of breaches is expanding. Several companies are hit by cyber breaches and attacks every year causing losses in millions of naira and stealing highly classified information. It is therefore imperative that any organization that desires to stay safe and minimise risk or loss address cybersecurity at the top, with executive leadership setting the tone and engender a ‘security-first-always-and-everywhere’ culture that flows throughout the organization.”

    The Cisco 2018 Security Capabilities Benchmark Study reveals that 94 per cent of companies in the Middle East and Africa (MEA) suffered a breach in the past year and that 34 per cent of breaches in resulted in more than half of systems being impacted. The study also indicated that nearly a quarter of organisations in the region manage more than 21 vendors and cite lack of security personnel as one of the biggest obstacles to security.

    Amao said: “Cisco researchers observed a two-fold increase in malicious web traffic volume in roughly over 12-months. This alone demonstrates that cyber adversaries continue to learn and evolve. The time to raise the bar in cybersecurity is now. That is why at Cisco we take pride in being able to educate and provide businesses with the solutions and best practices required for effective cybersecurity. Our threat researchers have a reputation for timely, accurate and innovative work, and our networks of talented teams are devoted to driving impactful outcomes for our customers.”

    Now in its 11th year, the Cisco 2018 Annual Cybersecurity Report offers security industry data, analysis and insights about attacker behavior over the past year. The report highlights findings and insights derived from threat intelligence and cybersecurity trends observed over the past 12-18 months and provide recommendations designed to help organisations and users defend against attacks.

    Cisco has an integrated and comprehensive portfolio of security technologies to provide advanced threat protection. Cisco technologies include next generation firewalls, intrusion prevention systems (IPS), secure access systems, security analytics, and malware defence; which work together to deliver effective network security and incident response.

  • ‘Technology vital to fighting pipeline vandalism’

    Nigeria will check pipeline vandalism and the attendant drop in crude production through the use of technology, the Vice-Chancellor, Federal University of Petroleum Resources (FUPRE), Prof Aki Ibhadode, has said.

    He said the wanton disruption of oil and gas infrastructure in the oil producing Niger Delta region would be a thing of the past once the government deployed the right technology to fight the menace.

    Speaking during a visit to corporate headquarters of Vintage Press, publishers of The Nation and Sporting Life, in Lagos, Ibhadode said the institution has developed a robot to fight pipeline vandalism in the industry, adding that the sector would be free of untoward practices that have slow down crude production and government’s revenue, whenever the operators start using it.

    Ibhadode said: “The university authorities, in conjunction with the students, has developed a robot that would help in surveilling areas where petroleum pipelines are located, and further send signals to the school, in the event that the pipelines have been tampered with.”

    While reeling out the achievements of the varsity in recent times, he said it was working on a mini- refinery to boost the country’s fuel supply and ease scarcity of the product, adding that the institution has invited investors to support its works.

    “The university was established by the Federal Government in 2007 to help develop the country’s oil industry. Though a state-owned institution, the school is underfunded as relevant authorities designated to help it were not forthcoming.

    ‘’However, the university, which was rated as the sixth petroleum institution in the world, has come out with many innovative measures to help the sector,’’ he said.

  • Technology, safety and security

    There have been several road accident cases which led to the loss of lives as a result of Road Traffic Management officers pursuing violators of road traffic regulations. In today’s world of technology, the physical pursuit or stoppage of traffic rules violators is not so much necessary anymore. With the installation of CCTV cameras and allied gadgets in appropriate places, traffic offenders can be easily arrested and prosecuted without causing death or traffic jam. Examples abound in Britain, US, UAE (Dubai-Abu Dhabi road) among others.

    The Federal, state and local governments in Nigeria, however need to be more serious and proactive in ensuring proper street naming, vehicle numbers plate with chips and biometric data capturing of all vehicle owners, among other measures, to enhance the use of technology in road safety administration.

    It is disheartening to know that the right technology has not been deployed in the Northeast states and other black spots in Nigeria to curtail the activities of the terrorists despite the claim of billions of dollars being spent to fight terrorism in Nigeria.

    I expected that by now, all the schools, markets, motor parks, religious buildings and other vital facilities in the Northeast states and some other states would have been bombarded with very active, effectively monitored and secured CCTV cameras. If this was in place, the recent abduction of another set of schools girls in Yobe State would have been avoided or promptly checkmated.

    The major problem that the previous and present governments in Nigeria have been having is, “not paying attention to details”. They have been so busy with ceremonial issues while neglecting the most vital issues.

    I use this opportunity to advice the Federal and state governments to invite ICT, security and safety experts for a result-oriented dialogue (not a jamboree gathering) on how to cost-effectively use technology to promote safety on Nigeria roads and curtail the activities of insurgents and other criminals in all the black spots in Nigeria. Prevention is always easier, cheaper, more effective and better than cure.

  • MainOne: technology key to growth

    MainOne: technology key to growth

    Increased technology adoption will create jobs, grow the bottomline for businesses, reduce corruption and lead to rapid economic transformation, the Chief Executive Officer, MainOne, Funke Opeke has said.

    According to her, a survey by the company showed that Nigeria is one of the world’s top three consumers of the internet, adding that more needed to be done to harness the potential of digital transformation.

    Speaking at MainOne’s flagship IT event, Nerds Unite, in Lagos with: Radical digital transformation as theme, she said aside connectivity to the internet, there was need to collaborate in the areas of increasing the rate of technology adoption, local data hosting and content distribution.

    Opeke said it was important to engage technology gurus in sharing ideas and finding new ways to improve the standard of living, adding that the conference was a platform designed to bring together professionals in the world of technology.

    “Technology is critical to the sustenance of the community. There is no way the economy will grow without technology. Therefore, there’s need for radical digital transformation,” she said.

    Other IT experts highlighted the importance of applying technology to every facet of life in line with digital transformation agenda of the Federal Government.

    The keynote speaker, Nnamdi Oranye, urged Nigerians to be passionate about the development of the country, adding that technology remained the only way to move the country forward.

    Oranye, who is the author of Disrupting Africa’ stated that a recent United Nations survey estimated that Nigeria would be the third largest country in the world by 2050.

    He said Nigeria could not afford to fail, adding that Africa is looking up to the country described as a developing because of its low industrial base.

    Oranye further stated that before the country could be developed, technology and innovation had to be used to identify new trends, provide incentives and develop new ideas. He added that people should take advantage of available tools to build a legacy for the coming generations.

    During a panel discussion which centred, on ‘Disruptive solutions for enterprise,’ Presales Customer Solutions Manager, SAP West Africa, Chibuzor Ezeasor, said technology could be used to engage customers and the workforce in an organisations.

     

    Ezeasor said SAP, through its CSR programme, would organise events and training around Africa for young entrepreneurs and developers. He said SAP would also build an application for entrepreneurs to build other applications.

    Also speaking, the Chief Technology Officer, Microsoft, Hakeem Adeniji-Adele, stressed the need for SMEs to adopt technology. “Enterprises are driven by customer experience and engagement and technology can be adopted to get adequate feedback and suggestions,” he said.

    Adeniji-Adele, who noted the interdependence of technology and innovation, also stated that there was no way an entrepreneur could innovate without using technology.

    He said 62 per cent of the revenue generate by Microsoft was from the innovation of CloudShare.

    On the other hand, Senior Government Manager at Avanti Communications, Srinath Logasubramanian, described innovation as critical to human existence, adding that the day innovation ends, is the day the world will come to an end. He noted that even big companies had to be on their toes in innovation in order not be pushed out of business by new firms and hinted that Avanti would be launching a satellite system in March to cover broadband services across sub-Saharan Africa.

  • Technology adoption key to growth, says MainOne

    Technology adoption key to growth, says MainOne

    Increased technology adoption will create jobs, grow the bottomline for businesses, reduce corruption and lead to rapid economic transformation, the Chief Executive Officer, MainOne, Funke Opeke has said.

    According to her, a recent survey carried out by the company showed that Nigeria is one of the world’s top three consumers of the internet.

    Speaking at MainOne’s flagship IT event, Nerds Unite, in Lagos with: Radical Digital Transformation as theme, she said aside connectivity to the internet, there was need to collaborate in the areas of increasing the rate of technology adoption, local data hosting and content distribution.

    Opeke further said it was important to engage technology gurus in sharing ideas and finding new ways to improve the standard of living, adding that the conference was a platform designed to bring together professionals in the world of technology.

    “Technology is critical to the sustenance of the Nigerian community. There is no way the economy will grow without technology. Therefore, there’s need for radical digital transformation,” she said.

    At the event, other IT experts highlighted the importance of applying technology to every facet of life in line with digital transformation agenda of the Federal Government.

    The keynote speaker, Nnamdi Oranye, urged Nigerians to be passionate about the development of the country, adding that technology remained the only way to move the country forward.

    Oranye, who is the author of Disrupting Africa’ stated that a recent United Nations survey estimated that Nigeria would be the third largest country in the world by 2050.

    He said Nigeria could not afford to fail as a country, adding that Africa is looking up to the country described as a developing because of its low industrial base.

    Oranye further stated that before the country could be developed, technology and innovation had to be used to identify new trends, provide incentives and develop new ideas. He added that people should take advantage of available tools to build a legacy for the coming generations.

    During a panel discussion centred on ‘Disruptive Solutions for Enterprise,’ Presales Customer Solutions Manager, SAP West Africa, Chibuzor Ezeasor, said technology could be used to engage customers and the workforce in an organisations.

    Ezeasor said SAP, through its CSR programme, would organise events and training around Africa for young entrepreneurs and developers. He said SAP would also build an application for entrepreneurs to build other applications.

    Also speaking, the Chief Technology Officer, Microsoft, Hakeem Adeniji-Adele, stressed the need for SMEs to adopt technology. “Enterprises are driven by customer experience and engagement and technology can be adopted to get adequate feedback and suggestions,” he said.

    Adeniji-Adele, who noted the interdependence of technology and innovation, also stated that there was no way an entrepreneur could innovate without using technology.

    He said 62 per cent of the revenue generate by Microsoft was from the innovation of CloudShare.

    On the other hand, Senior Government Manager at Avanti Communications, Srinath Logasubramanian, described innovation as critical to human existence, adding that the day innovation ends, is the day the world will come to an end. He noted that even big companies had to be on their toes in innovation in order not be pushed out of business by new firms and hinted that Avanti would be launching a satellite system in March to cover broadband services across sub-Saharan Africa.

  • ‘We are using technology to hasten economic growth’

    ‘We are using technology to hasten economic growth’

    African Founders Chief Executive Christian Keller has a history of building companies from early stage to international level. His organisation is a private business incubator, which has experience in carving out strategies for complex businesses in product development, private equity financing and regulatory affairs. He tells DANIEL ESSIET that technology will remain the soul of economic growth.

    What key technology trends are changing the economy landscape?

     The internet has truly changed Nigeria. About one third of Nigerians now have access to smartphones devices and data are getting cheaper daily. Many of us have been chatting with our friends and shopping for electronics on our phone. Now you can even consult a doctor or hire a trusted handyman from the convenience of your home.

    The internet alone will contribute as much as $300 billion to Africa´s gross domestic product (GDP) by 2025, according to a report. This means, technology will reach beyond its limits and transform industries. For example, the way health care is delivered in Nigeria could change a lot in the future. Teleconsultation would soon become mainstream. Patients will have their medical records accessible from their phone and can share specific records with doctors, laboratories or global specialists as needed. This will go hand-in-hand with an array of reinvented medical devices.

    Potable devices for ultrasound scans or tests for infectious diseases, such as malaria or HIV, would soon be smaller and more affordable. This means that access to quality diagnosis and treatment in rural areas will improve greatly. In addition, there will be new patient devices that can improve adherence to medicine and monitoring of health status. This include wearables, such as watches, which detect common heart conditions or 24/7 blood sugar measurement devices, which automatically report data and computer-aided interpretation to your electronic health record. We will also see community and education apps for pregnant women or young mothers.

    Sensitive data could be stored, using block chain technology, which has the potential to secure our data beyond what we know.

    What trends and challenges do you see in the industry?

    One key trend I see is much deeper collaboration among different stakeholders. In health care for instance, hospitals, pharmacies, internet platforms and technology companies need to work hand in hand with government agencies to take advantage of the technology that is emerging in that space. This would not always be easy as different industries have different perspectives on things. Yet, collaboration is the only way forward, as the world gets more and more connected.

    The beautiful thing is that it could lead to a new paradigm of health care,  one which is more value-based than cost-based; more patient-centric than treatment-centric and more preventive than curative.

    This will also give rise to new business models. Already, Uber functions as the largest taxi company in the world, yet they don´t own a single car. Likewise, AirBnB does not own a single apartment, yet they could be described as the world´s largest hotel company. Thus, innovative platforms are emerging at the centre of industries connecting their participants and enabling them to better work together.

    The industry’s potential is restricted by the lack of digital talent. How do we this?

    Countries, such as India or China, have done a great job in providing high-quality engineering schools and are guiding young talent towards it. Nigeria has a large pool of young and hungry high school graduates – it needs to learn and make use of its talent.

    Education also needs to be more practical. The best developers you can find in Nigeria are self-taught – they might have a computer science education, but they learned their most relevant skills by implementing projects at the side of or after their education. Great schools should encourage and mentor their students on such side jobs, internships or even provide work for them.

    Lastly, we need more trust in local development and find ways of adopting global development standards to Nigerian culture and way of doing things. The naira devaluation has made it favourable to rely on local development and service providers, even for larger projects – we now need to start making it happen.

    Both the government and the private sector have continued to concentrate on startups. Are they so important?

    Startups are very relevant to the digital economy. Many of the most significant innovations in recent history came from companies, which started as startups. They don´t have heritage obligations; they have the freedom as much as the need to think outside the box. Their whole leadership culture is built around creating disruption, which established players can´t often  provide.

    Yet, they will only thrive in an environment that nurtures them. The government needs to ensure that policies are not hindering, but actually allow startups to unfold their potential.

    What do we need to build a successful digital economy?

    We can learn from those who have built successful digital economies. The world´s most modern digital economy can be found in Estonia. Over a long period of time, they have systematically invested in talent, supported local IT companies and put forward a digital training agenda for schools, companies and government. They have created a digital passport for all their citizens, a central electronic health record and management system and a central data architecture based on distributed storage.

    As a consequence, it became the first country in the world that allowed voters to participate in parliament election over the internet. They conducted the world’s first e-census and now it offers foreigners to obtain digital citizenship, just like almost any government activity can be done online. Innovations like the communication software Skype and many more were born in Estonia. Since  then, it has become one of the fastest growing economies in Europe and is widely known for its tech talent and expertise.

    So, a key formula for a digital agenda is strong support and guidance by government combined with the freedom and empowerment of business initiative to find effective ways of implementation. Entrepreneurs need to be encouraged and enabled to contribute.

    However, a digital agenda also needs a deep understanding of technology and the openness for innovation. A lot of money has been wasted by Western countries trying to bring traditional structures to the internet rather than innovating their business models with it. This requires digitally savvy leaders. Part of the success story of Estonia was that they had a president who had a deep understanding and passion for technology.

    Also, the average age of politicians in the Estonian parliament was 35 at that time, so much lower than in most countries. A new generation of leaders, who deeply understands the potential that lies in the smart use of technology needs to arise. With this, many sectors of the economy can be transformed so that citizens can be enabled to do their work in a much better and more productive way.

    The government has challenged businesses to embrace technology. How can the government create the right environment for investment?

    First, businesses need a stable and encouraging legal framework to operate. Companies often prefer to delay the adoption of new technologies until it is clear what is legal and what is not, especially in sensitive areas like healthcare or financial services.

    Then, the government should support the setup of education and co-creation centers for local entrepreneurs of all types. If well done, such centers can give access to capital as much as knowledge and contacts all across the country.

    Innovative governments then work on digital agendas for mobile payment, unique identity, central electronic health record, or credit scoring  and sometimes, even a technical support architecture for it and more.

  • Air Force to deploy technology for Nigeria’s security, says NAF chief

    Air Force to deploy technology for Nigeria’s security, says NAF chief

    Chief of the Air Staff (CAS) Air Marshal Sadique Abubakar has promised that the Air Force would not be left behind in modern warfare, which is being driven by technology.

    Speaking while declaring open a two-day NAF Communications Workshop at the NAF Headquarters Abuja, Air Marshal Abubakar said the giant strides of the NAF towards infusing technology in its operations were aimed at efficient and effective air operations for the defence of the nation’s territorial integrity.

    The Air Force boss, who lauded President Muhammadu Buhari for the support he gave the NAF to make Nigeria safe, however, said given the fact that the communications branch of the NAF would play strategic roles in modern warfare, it is imperative to give the branch the needed attention through capacity-building and expansion.

    He said: “Over the years, we have noticed a gradual decline in expertise, skills and professionalism of the branch personnel, especially with the disengagement from service of our highly trained personnel. Sophisticated equipment are in use today and technological advancement is quite rapid. So personnel must be abreast with current developments if they are to remain relevant.

    “Modern warfare is technologically driven, hence the giant strides of the NAF towards infusing technology in its operations. In particular, the employment of information and communications technology is a strategic tool to enhance our operational and administrative processes. In line with one of the key drivers of my vision, human capacity development, the NAF has embarked on several trainings for its personnel in software development, cyber security, communications, imagery analysis and maintenance of our navigational aids facilities. Several local training has been conducted.

    “Furthermore, a total of 12 officers have been trained in the USA as software developers and eight others trained in India on cyber security and there are plans to train more. These would enable the NAF build capacity in embedded systems and micro controllers-components of the auto pilot for the  UAVs.”

     

     

  • Lagos deploys technology to reduce multiple property litigation

    Lagos deploys technology to reduce multiple property litigation

    Lagos State has developed an electronic real estate litigation system to help property buyers determine those that are subjects of litigation.

    It is designed to reduce litigation in properties and ease the process of doing business in the sector.

    Speaking at its public presentation at the Alausa Secretariat, the Attorney-General and Commissioner for Justice, Adeniji Kazeem, said the electronic system was developed to provide easy access to information.

    Represented by the Solicitor-General, Mrs Funlola Odunlami, Kazeem said the system was designed in line with the administration’s drive to promote information technology in the state.

    According to him, “the world we know today is at the click of a button technology driven and the Lagos State government is certainly in trend with the time, we have been  working endlessly to ensure that Lagos is not left in the dark ages.

    This is why several initiatives and steps are being taken to make Lagos State as technologically driven as possible.”

    The Attorney-General said the system will give end-users constructive notice property status.

    Kazeem described the real estate sector as one which records a very large turnover within the economy of the state.

    “With the vision of becoming the largest economy in Africa, it is expected that the level of economic and commercial activities in Lagos State would experience an unprecedented level, height and pace.

    “The real sector is therefore expected to further attract a significant amount of attention,” he said.

    He said the electronic real estate litigation system would “provide a comprehensive database of real estate/property in Lagos which is subject of litigation, provide information on pending cases in court, notify the public of real estate and property which are the subject of pending litigation, curtail risk associated with property transactions, reduce litigation on real estate as the public can now easily confirm if a property is subject of a pending litigation, enhance due diligence in property transactions, ensure the public and professional bodies are able to conduct an efficient search of real estate and property, among other services”.

    Justice Olaide Olayinka who represented the Chief Judge of Lagos, Justice Opeyemi Oke, described the system as a wonderful initiative which would have positive impact on the administration of justice.

    “It is what is required in Lagos State. There are so many cases on property in court with many not knowing that the property is a matter pending in court,” he said.

    Accordign to her, the system would curtail risk in property business and make  due diligence easy to observe.

    Mr Emmanuel Akinde, who represented the Permanent Secretary, Lands and Registry, advised that the new initiative be backed by law to give it more effect just as searches on properties is backed by the Lagos Registration of Titles Law 2015.

    He noted that before now, searches were only limited to finding out if land was under government acquisition or not.

    The Surveyor-General, Mr Olutomi Sangowawa, advised that the system should be on-line real time so that investors can know if there are encumbrances when transacting businesses on properties.

  • UBA: Providing quality banking services with technology

    UBA: Providing quality banking services with technology

    Banking is gradually moving away from the banking halls, with banks and customers doing everything to ensure that banking transactions are simple and accessible at all times. United Bank for Africa, is taking strategic steps to integrate more people into the digital financial services net, drive down cost to serve, and build consumers’ confidence in digital platforms. UBA at the weekend launched Leo, a chat banking personality on social media platforms where customers can now carry out different transactions with ease, writes COLLINS NWEZE.

    It was a busy Friday morning in Lagos. And Michael Silas, a civil servant residing in Ikeja- Lagos, was rushing to his office in Victoria Island for the day’s job. Halfway into the journey, he discovered that he forgot his mobile phone at home. Silas had two options- to continue his journey and get to the office on time or return home and for his mobile phone. He chose the latter.

    That option explains how important mobile phones have become to nearly 150 million Nigerians connected to mobile networks. Many people would not be bothered if they left their wallets at home, provided their mobile phones are with them as they have become a handy platform for digital banking. Digital banking is becoming more attractive to banks and their customers. It is catching the attention of everyone thinking of speed, efficiency and cost saving.

    Hence, banks with eyes in the future and conversant with the new trend in customer behaviour, are designing new products and service that meet the needs of customers anytime anywhere. That explains why the United Bank for Africa (UBA) Plc at the weekend, revolutionlised e-banking with the introduction of Leo, a chat banking personality on social media platforms.  The bank launched the product in collaboration with Facebook, as the transaction is carried out on the Facebook Messenger. The chat banking has already taken off in the Facebook Messenger.

    Group Managing Director/CEO UBA Plc, Kennedy Uzoka, who unveiled Leo in Lagos, described it as a solution developed with people’s lifestyles in mind. He described Leo as the UBA Chat Banker who enables customers make use of their social media accounts to carry out key banking transactions.

    The transactions, he said, are done through mobile phones, which he said have become synonymous with modern day banking.  He explained that with Leo, one’s banking needs become easy and as simple as chatting.

    Highlighting how mobile phones have become critical part of people’s lives, he said: “We now live on mobile devices, laptops. You can forget your wallet for a whole day, not your mobile phone”.

    He said Leo was designed to work within the platforms people are already familiar with adding that the lender is committed to serving its customers with technology. “With Leo, our customers can pay their bills, transfer money, get balances and even pay for Uber right there on their phones,” he said.

    Speaking further at the Meet Leo launch, he said that with the launch of the chat banking, customers will be able to open new accounts, receive instant transaction notifications, check their balances on the go, transfer funds and airtime top up. They will also be able to confirm cheques, pay bills, apply for loans, freeze accounts, request for mini statements, amongst other things.

    The bank customers present at the event were given a step by step demonstration on the novel way of delivering lifestyle and quality banking through the Facebook Messenger chat platform driven by Leo. “This is the first time that a financial institution in Africa has come up with this manner of solution to simplify the way customers transact. Something that has become necessary in today’s fast-paced world with demands for quick-time transactions and response,” Uzoka said.

    The bank chief said that the launch of Leo is part of initiatives aimed at putting the bank’s customers first with UBA continuously developing strategies aimed at easing transactions for the bank’s numerous users, while ensuring utmost safety of their transactions.

    Uzoka said: “The formulation of this product is consistent with the bank’s customer first philosophy, where we are doing things not the way we like, but focusing on what the customers want, where they want it, and in the exact platform they want it.

    “At UBA, we have been working with technology giants that have the global capacity to ensure not only seamless but also effortless banking for millions of our customers across Africa. We at UBA have collaborated with Facebook to come up with this innovation that is capable of revolutionising the way banking is done in Africa,” he said.

    Uzoka noted that Leo will in the nearest future, show up on other social platforms and added that all it takes to enjoy the services is simply to have a Facebook account.

    As he unveiled the character of Leo, Uzoka stated:  “Leo being an intelligent personality will give you feedback instantaneously as you transact your business on the platform. A solution that is from the customer’s standpoint and is easy to use by anyone”.

    Explaining further, he said: “You do not need to learn to use it because it has always been part of your life. It is solution from customers’ point of view. Its greatest asset is its simplicity. Leo is an artificial intelligence. He will address all banking concerns. He should help pay for everything but you need to have an account with UBA to transact with Leo”.

    He said that the chat language is elementary, and Leo can even help one remember what he or she needs to do at every particular point in time.

    Also speaking at the launch of Leo, the Group Head of Online Banking at UBA, Austine Abolusoro, who conducted a step by step demonstration on the working of Leo reiterated that Leo is not just a chat machine, but an artificial intelligence personality meant to address any type of banking concerns raised by customers.

    “Leo is ready and waiting to help with most transactions and to deliver any form of banking services. Leo is operating a lifestyle banking platform on Facebook messenger to assist with your transactions while chatting with your friends and business partners. The security with this platform is that for every transaction, an One Time Password (OTP) is generated to the phone number that is registered on your account.”

    While noting that this was the first time this kind of solution was coming up on the continent, he expressed belief that with the huge number of customers the bank has as well as its growing customer base in all the 19 countries of operation, customers will be served using technology, and not just traditional technology, but modern and forward looking technology.

    “Leo being an intelligent personality will give you feedback instantaneously as you transact your business on the platform. A solution that is from the customer’s standpoint which is easy to use by anyone regardless of your career,” he said.

    Speaking on the security of the platform, Uzoka said the Chat Banking with Leo does not elevate the risk already available.

    On how to open an account and enjoy the chat banking advantage, he said the prospective customer just needed to log on to the Facebook Messenger and open up chat with Leo, who takes over the conversation by telling the customer what steps to take.

    On security measures, he said the prospective customer needs to provide a Bank Verification Number (BVN) and phone number that is linked to the BVN. “Leo will ask the customer to provide his/her BVN, and that is followed by phone number that is linked to the BVN”.

    On the transaction volume required to be done by customers, Uzoka said customers with low key Know Your Customer (KYC) will transact to a limit of N50,000 daily, already existing customers can do N200,000 and N100,000 in the first seven days even as the accounts can be upgraded to do higher transaction volumes. “We are increasing customers’ happiness level with this product. We have brought banking to the chartroom,” he said.

    Other innovative solutions

    The UBA has scored many firsts in the industry. A social media report by Alder Consulting ranked the bank among the top three, in effective use of social media in Nigeria. The UBA is active on Twitter, Facebook, Youtube, Instagram and Google plus and runs a corporate blog. With a large customer base, the bank has invested heavily in building a robust and secure e-Banking platform that supports its e-banking operations globally through strategic partnerships with various local and international organisations.

    Also, the bank’s customers can also receive transaction alerts on their twitter handles as direct messages. It is an innovative first from the pan-African bank and currently the only bank in Africa to offer this service.

    “What we have done is take social media banking to a new level. Twitter is increasingly becoming a popular means of communication especially among the young adults. As a highly innovative bank, we are giving the Millennials, who are increasingly banking with us an option to get transaction alerts on their preferred platform,” the bank said.