TechBooky

Money laundering activities pose a serious security risk for banking industry as regulators are continuously tightening their guidelines and imposing fines that go as high as 7 figures. Financial watchdogs have forced national governments and international community to take a strict stance against illegal transfer of funds, especially from 3rd world countries into Americas, Western Europe and many tax havens spread across the globe. Anti-Money Laundering (AML) softwares, more commonly known as AML softwares, are considered a secure way of identifying individuals that pose financial risks, thus, allowing banks appropriate response time to deny these probable customers their service. AML Services - Manual vs. Automated Debate AML services are being used by all major banks across the globe but most of them are only performing AML screening with the help of a manual review carried out by using human intelligence. As you can imagine, this is time consuming and costs a lot more than a bank w...

With lots of people who are fond of the social media platform, WhatsApp. The Pan-African Financial Institution, United Bank for Africa (UBA) has announced the commencement of its chat banker ‘Leo’ on its platform. Now customers who are users and lovers of the app can now can perform basic banking services including checking their balances on the go, transferring funds, paying bills, among other services.   The Group Managing Director/Chief Executive Officer, UBA, Mr. Kennedy Uzoka, who expressed excitement about the development remarked that the bank is continuously working in line with customers’ demand to ensure that banking services are made convenient and without stress. Read more: UBA Deploys The Service Of A Chat Bot Via Messenger According to a blog post by the company He also added: “This only goes to show that our resolve in continuing to deploy innovative solutions that place customers first, using cutting edge technology for their collectiv...

At a launch event which was held at its Stallion Plaza HQ, Union Bank one of Nigeria’s oldest bank announced its Robotic Process Automation technology, a culmination of three years of development and testing. Robotic Process Automation which makes use of software robots to provide an improved business efficiency,  consistently and data security which can help automating repetitive tasks across a multiple business applications without altering existing infrastructure and systems. Union Bank is the first bank to implement it in Nigeria, starting with reconciliation of ATM transactions and cutting the processing time for that service by 60%. Emeka Emuwa, Union Bank’s CEO said in a speech at the event, according to the bank’s blog post , he explained that: “The provision of simpler, smarter banking services to our valued customers is at the core of our business. Therefore, we remain focused on leveraging cutting edge technology and creating innovative partnershi...

Countries around the world currently place great premium in the development of the startup segment of their technology ecosystem and in this quest, Nigeria has never been lagging behind. As now as a way of Strengthening Nigeria"s technology  ecosystem, the tech space is set to witness a one of the biggest game-changing experiential platform with the unveiling of TechFest by Diamond Bank Plc in partnership with MTN, Visa, Microsoft, NIBSS, Deloitte and Touche, Interswitch and Beat FM. The event is scheduled for Tuesday, 15 and Wednesday, 16 May 2018 at the Landmark Event Centre, Oniru, Lagos. The Tech Fest event will feature the best talent in the Nigerian technology space – one of the country’s fastest growing sectors. The event will showcase technological solutions for businesses, connect technology providers with new markets, provide access-to-market opportunities for tech start-ups amongst others. Diamond Bank’s Chief Executive Officer, Uzoma Dozie, Speaking a...

[caption id="attachment_7725" align="alignnone" width="2060"]                                                                    Nigerian Central Bank, Abuja, Nigeria. Image shot 2007 [/caption] As part of the National Information Technology Development Agency"s move to ensure a threat-free cyberspace, the Central Bank of Nigeria was saddled with the responsibility to embark on a project aimed at restructuring the CBN"s Information and Communications Technology security and system"s infrastructure upgrade projects, Punch Nigeria reported. According to NITDA, the CBN embarked on this project to subdue cyber threats that have become a menace to financial institutions in the country. The Director-General of NITDA, Isa Pantami had earlier in the year rung the alarm on the danger of leaving loopholes for cyber-criminals to...

Diamond Bank – one of Nigeria’s fastest growing retail bank, – in recent years, has made a significant strides with a foundation of over 15 million customers nationwide. As a means to use technology to reach more customers with an enhance service - has just launched its own Artificial Intelligence (AI) chatbot. The chatbot which is called Ada  uses an AI technology to provide a Humanlike interaction for Diamond Bank customers.  The bot will provide a more relevant, timely solution to customers banking problems and is simple to use and interact with. Commenting on the launch of Ada according to Techpoint , Uzoma Dozie, CEO of Diamond Bank said: “I believe data and technology has the power to transform Nigeria’s economy, so I am excited to announce the launch of Diamond’s Artificial Intelligence (AI) powered Chatbot named Ada Ada will give Diamond Bank the opportunity to reach their customers from across the country and also establish and faci...