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Exploring Effective Ways How Finance Companies Can Win Using Big Data

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The incredible data proliferation and the ever-increasing technological complications are continuing to radically change the way industries particularly the banking and financial sector, function and compete. During the last few years, around 90% of the global data has been generated because 2.5 quintillion bytes of solid data were created per day. Referred commonly as big data, we understand that this speedy growth and storage comes up with major opportunities for collection, analysis, and processing of both unstructured and structured data. If you want to learn more about Big Data, then you can learn from intellipaat, who provides online certification course on latest technologies like big data, data science courses, artificial intelligence.

Big data technology is today, an integral part of the banking and financial services industry and is all set to drive innovation in the years to come. Today, the tech-savvy financial companies are leveraging Big Data for:

  • Generating new revenue streams via data-driven offers like personalized recommendations.
  • Becoming far more proficient for competing with cutting-edge Fintech organizations that use state-of-the-art technology for providing customers with advanced financial and banking services.
  • Providing much-improved services to consumers like fortified security.

In the current data-oriented business environment data insights and data analytics play a pivotal role and are utilized in almost all decision-making processes that involve the future of the organization. This is particularly, true in case of the finance industry. According to financial experts, the most intriguing trend would be financial companies and banks are able to completely leverage the power of Big Data while adhering strictly to security standards and compliance requirements.

As per https://www.techfunnel.com, several organizations in the financial sector are already taking proactive measures for making the most of the Big Data they are holding and effectively enhancing their overall services.

The big data application in the banking and financial sector would be opening up numerous avenues and opportunities for boosting the efficacy and productivity of financial services. To fully utilize big data, finance companies are focusing their attention on taking three major steps as discussed below.

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Define Clearly a Specific Data Stratagem & Align Effectively with Business Objectives

Even though several organizations strive relentlessly to be data-driven, some of them do not succeed in their mission. The reason why most of these companies are literally struggling to manage big data is simply because they are more into short-term results. They fail to manage big data strategically instead; they are focusing on one-off projects.

Financial companies must necessarily use data for accomplishing not only singular objectives but also for achieving broader business objectives and goals. Businesses could create a comprehensive stratagem spanning across all the departments within the organization including their business partners for fullest utilization of data.

Choose a Scalable, Flexible, and Secure Data Platform

Irrespective of the type of platform an organization is using, it is necessary to choose a scalable, flexible, and secure data platform. Experts feel that scalable and flexible data platforms would be facilitating organizations in collecting and storing the amount of data required while data processing in real-time. Security implies factors such as role-based access that would help in ensuring that invaluable information does not go to the wrong people and this would further ensure that companies are able to constantly monitor data usage on specifically a granular level.

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Begin with a Single Business Issue & Go on Expanding on It

Some American multinational financial companies started leveraging effectively the power and versatility of big data, firstly, to boost and enhance fraud detection. When they were successful in their mission, they got involved in some other data-driven endeavors. Companies have been using big data to solve a specific business issue and once they could solve the crisis, they went on expanding on that particular solution to addressing other business problems. It is clearly evident that Big Data is an integral part of the current financial services industry and ultimately the success of all these financial organizations would be evaluated according to their efficiency in harnessing the power and versatility of big data in a brilliant way. Let us explore some other aspects where experts believe that big data analytics could certainly add value to.

Enhance Financial Methods

Financial institutions like banks, trading concerns, and lending institutions are known to generate a huge amount of data on a daily basis. They must depend on data handling applications and programs. These financial institutions are generally known to have several diverse business models since they provide a plethora of services. All data trends and data should be considered for creating actionable strategies and competent working models.

Much-Improved Data Processing & Better Storage

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Banks and financial institutions have collected a massive amount of data. With a boost in data usage and rapid digitalization in practically every decision-making facet, the database created by these companies is bound to go on increasing exponentially. As such, big data would be using algorithms and codes for processing continuously humongous volumes of data and for managing the shared servers or data clouds.

Machine Learning Reaps More Returns

Financial organizations and banks interact every day with customers. This information seems to be important for coming up with seamless customer experience and also, for obtaining valuable insights. Most of these organizations have already integrated machine learning and artificial intelligence for facilitating services and enhancing fraud detection measures. Fraud detection is certainly an important field where big data has proved to be immensely beneficial.

Effective Credit Scoring

One major responsibility of lending institutions such as https://www.libertylending.com/ is to effectively calculate an accurate credit score, taking into account all the parameters and data to the extent possible. We know that credit scoring is a hugely sensitive activity that could be impacting business credibility and the overall corporate reputation and image.  As such, financial institutions use an effective combination of big data analytics and business intelligence software for accurately calculating the credit score.

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Blockchain Technology

Blockchain technology is gaining momentum and is currently pretty much in vogue thanks to the cybersecurity threats, data compliance, and GDPR measures. This seems to be having a fantastic application in terms of big data because a blockchain network stores data in ledgers that are distributed, as well as, saved on the participating bank’s servers. As the information seems to be distributed among different banking platforms, blockchain networks are practically impregnable against hacking. Experts point out that the bigger the network; the blockchain would be more secure.

Effective Customer Segmentation

Banks have switched over from a business-centric model to purely a customer-centric model in 2019. For facilitating such a switchover, it is essential for banks to effectively perform customer segmentation for coming up with much-improved and more effective financial or banking solutions to their esteemed customers. We understand that big data plays a pivotal role in aiding the banks in such a process by segmenting consumers effectively on the very basis of real-time and historical data hence, hastening and easing the process.

Boost in Customer Acquisition

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Big data would be considering both real-time and historical data for segmenting customers. When the proper segmentation is over, you could profile the specific type of customers most probably would be requiring your services. You would thereafter, simply require creating your marketing stratagems aimed towards acquiring more customers.

Conclusion

Today financial organizations are utilizing big data for easily running their marketing programs. This would be effectively generating more leads and also, conversions. Companies could create a massive customer base and assist in generating effective customer loyalty programs and customer retention. The financial industry seems to be gradually changing itself and becoming a Fintech industry. We understand that big data analytics is acting as the catalyst to speed up the transformation. Today an increasing number of financial organizations are depending on big data analytics for carrying out a perfect visual representation of crucial data for bolstering growth and expansion.

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Actress and Activist Akosua Asieduaa Advocates for Youth Empowerment and Gender Equality at USAID Youth Conference

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 Budding Ghanaian actress and activist, Akosua Asieduaa Asare Brewu, took center stage at the recently concluded USAID Youth Conference in Washington, where she passionately voiced her commitment to addressing the challenges facing the most vulnerable  demographic in society – the youth.

As a fervent advocate for youth empowerment and gender equality, Asieduaa highlighted the urgent need for concerted efforts in empowering the girl child and tackling period poverty, particularly prevalent in Ghana. Drawing from her own experiences and observations, she underscored the importance of prioritizing these issues to ensure a brighter and more equitable future for all.

  Discovered and signed in 2019 to Pave; a prominent hub dedicated to discovering and nurturing creative talents in Ghana, Asieduaa has garnered widespread acclaim for her role as “Tilly”, a high school senior who battles the turbulence of adolescence in the popular YOLO TV Series. Leveraging her platform as an actress and activist, she continues to inspire change and drive meaningful dialogue on pressing social issues.

Her impassioned address at the USAID Youth Conference resonated deeply with attendees, igniting discussions and catalyzing action towards building a more inclusive and prosperous society. Asieduaa’s dedication to advocacy serves as a beacon of hope for youth empowerment and gender.

Asieduaa holds a degree in Earth Sciences from the University of Ghana and is currently pursuing her post graduate degree in Environmental Resources Management at KNUST. 

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Asieduaa identifies as a #Paver; a term which is synonymous to an individual who uses their influence to promote positive change in society.

 

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Telecel Ghana CEO Calls for Multilateral Collaboration and Investment in Digital Public Infrastructure

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Chief Executive of Telecel Ghana Ing. Patricia Obo Nai

Chief Executive of Telecel Ghana, Ing. Patricia Obo-Nai has made a clarion call for stronger multilateral partnerships and cooperation between industry, government, and investors to accelerate the growth of digital public infrastructure in Africa. 

Delivering the keynote remarks on ‘Digital Infrastructure and Innovation: Accelerating Africa’s Development’ at the Mobile Technology for Development (MT4D) session of the 3i Africa Summit on Wednesday, Ing. Obo-Nai outlined a roadmap for leveraging technology to fast-track digital infrastructure, innovation and literacy across the continent.

My first call on the topic is for cooperation and partnership between governments, industry, domestic direct investors and foreign direct investors to work together on increasing digital public infrastructure if we are serious about it. Let’s not just discuss, let’s implement” Obo-Nai said.

Ing. Obo-Nai highlighted three key areas that require attention to expedite the integration of technology into public service to benefit every community – infrastructure, innovation, and digital literacy.

Hosted by the Ghana Chamber of Telecommunications under the auspices of the 3i Africa Summit, the MT4D sessions also hosted multiple panel discussions with experts from the field of technology, innovation and public information, who shared insights and solutions on expanding digital public infrastructure for inclusive development.

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Future-proof infrastructure

Citing a report on the state of mobile internet connectivity in sub-Saharan Africa that showed that15% of people on the continent remain without network coverage, and 59% have coverage but are not connected, Ing. Obo-Nai advocated for expansion of safe, resilient and high-quality communication.

 As a service provider, Telecel, we believe in investing in network infrastructure and will continue to do so. However, we also believe in participating in infrastructure sharing and co-investment programmes to close the gap,” she said. “This will ensure the much-needed progress towards achieving Sustainable Development Goal 9 to provide universal and affordable access to the internet across Africa.

Innovation powers progress

Quoting the e-Conomy Africa report which revealed that Africa’s digital economy is one of the largest overlooked investment opportunities with a potential to add US$180 billion to Africa’s GDP by 2025, Ing. Obo-Nai urged stakeholders to invest in Africa’s innovative capacity and prioritise invention in schools and industry. 

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Innovation is the fuel that powers progress and drives change. We must be more deliberate and invest in tapping into the innovative capacity of our talents and prioritise innovation in schools and industry to drive development at scale.”

Ripple effect of digital literacy

Making the case for the scaling up and adoption of digital literacy programmes in schools to equip African youth with skills for the digital economy, Ing. Obo-Nai said, “If we have the infrastructure and sort out all the innovative solutions, will we have an African population ready to take advantage of it and accelerate our development?”

With Africa’s working-age population projected to increase to approximately 450 million individuals from by 2035, Ing. Obo-Nai believes expanding internet accessibility holds the potential to generate millions of job opportunities and upskill young people for tech opportunities in the digital landscape.

Governments and businesses must invest in digital literacy programmes to equip African youth with the skills needed to thrive in the digital economy, from coding to digital marketing to cybersecurity and data analytics. Instil digital technology knowledge in our young people right from primary school and build their exposure.”

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Crack the code.

In concluding the keynote address, Ing. Obo-Nai advised stakeholders to go beyond the dialogues and implement the shared solutions to ensure the acceleration of Africa’s development through digital public infrastructure.

“Together, we must crack the code to realise the full potential of Africa’s digital revolution and development.”

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Why Are People Raving About Pizzaman’s Food? Watch The Bite Buzz to See!

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Hey food enthusiasts! We’ve got some exciting news for you. Pizzaman Chickenman is launching a brand-new weekly series called “Bite Buzz,” and it’s hosted by the energetic and fun-loving Wizbid. Get ready to dive into a world of flavors and honest reviews with their tagline: “Taste, Review and Join the Buzz.”

Every week, Wizbid will be bringing you lively and entertaining episodes where customers give their honest review on their delicious meals, from Chickenman’s meals paired with Boneless beef and chicken , to their flavorful noodles and their cheesy pizzas. But this isn’t just about us talking – it’s about you sharing your experiences and joining the conversation.

What makes “Bite Buzz” unique? It’s all about community and connection. With Wizbid right there with you as you enjoy your meals at the branch, every bite and every laugh is shared, making the experience even more special. Plus, you’ll discover new favorites and might even see your own review featured!

So, mark your calendars and get ready to taste, review, and join the buzz. “Bite Buzz” is here to celebrate great food and a great fast food chain, and we can’t wait for you to be part of it. Follow Pizzaman Chickenman all Social Media Platforms and let’s make every meal an adventure!


https://www.instagram.com/p/C7EhhWVIGCo/

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Francis Afful Gyan Speaks on Veunux At 2024 World Telecommunication and Information Society Day

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The Business Development manager for Reservoir Management Group (RMG), Francis Afful Gyan, on Friday, May 17, 2024, detailed the benefits of the company’s digital flagship innovation, Veunex, an Artificial Intelligence Software System tailored for Health, Safety, Security and Environment (HSE).
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Custom Tote Bags: A Trendy and Sustainable Choice in Fashion and Marketing

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In a world increasingly attentive to sustainability and personal style, custom tote bags have emerged as a popular and versatile accessory. Whether used for grocery shopping, as a stylish day bag, or a promotional item, these bags combine functionality with a strong fashion statement. This article explores the significance of custom tote bags in contemporary culture, their benefits, and the impact they have on both personal use and as marketing tools.

1. The Rise of Tote Bags

Historical Background

Tote bags were originally used to carry ice from cars to freezers in the mid-20th century. Their simple, sturdy design has since evolved into a fashion statement and a banner for personal expression and environmental consciousness. Today, tote bags are made from a variety of materials, including traditional canvas, recycled plastics, and organic fabrics, reflecting a growing concern for sustainable practices in fashion.

Popularity in Modern Fashion

As fashion increasingly leans towards practicality, tote bags have become a staple accessory. They are celebrated not only for their eco-friendly appeal but also for their versatility and capacity, which make them ideal for a range of activities from shopping to traveling.

2. Benefits of Custom Tote Bags

Environmental Impact

One of the most significant benefits of tote bags is their reusability. Unlike disposable bags, which contribute to landfill waste and pollution, tote bags can be used repeatedly, drastically reducing the need for single-use plastics. They are a practical component of a sustainable lifestyle, encouraging consumers to make eco-friendly choices.

Marketing Advantage

For businesses, custom tote bags serve as an effective marketing tool. They are a practical item that consumers are likely to use regularly, ensuring repeated exposure for the brand. Customizing these bags with a company’s logo or slogan turns an ordinary item into a mobile advertisement, enhancing brand visibility and consumer engagement.

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Versatility and Convenience

Custom tote bags are not only eco-friendly and stylish but also highly versatile. They can be designed to suit various needs, from grocery shopping to serving as a daily carryall. Their spacious design and durability make them suitable for nearly any occasion or purpose.

3. Customizing Your Tote Bag

Design Options

Customization allows individuals and businesses to create tote bags that reflect their style or brand identity. Options can include various colors, graphics, and text. Adding unique designs or messages can transform a simple tote into a statement piece or a personalized gift.

Material Choices

Choosing the right material is crucial for both aesthetics and functionality. Common materials for tote bags include:

  • Canvas: Durable and sturdy, ideal for everyday use.
  • Cotton: Soft, lightweight, and often organic, perfect for casual use.
  • Polypropylene: A recyclable plastic option that’s sturdy and water-resistant, suitable for heavy groceries.

Size and Function

The size of the tote bag should be tailored to its intended use. Smaller bags are great for everyday essentials, while larger ones are perfect for shopping or as beach bags. Features like zippered pockets, adjustable straps, and interior compartments can also be customized to enhance functionality.

4. Using Custom Tote Bags in Marketing

Promotional Events

Custom tote bags are excellent giveaways at trade shows, conferences, or community events. They are practical, which increases the likelihood of them being used by recipients, thereby extending the reach of the brand.

Retail Merchandise

Many retailers offer branded tote bags as part of their merchandise, either for sale or as a complimentary gift with a purchase. This not only enhances the shopping experience but also encourages brand loyalty.

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Corporate Gifts

Custom tote bags make thoughtful corporate gifts. Whether filled with other promotional items or given alone, they are a useful and appreciated token that can foster better relationships with clients and employees.

5. Sustainability and Social Responsibility

Supporting Eco-Friendly Practices

Businesses that use custom tote bags demonstrate a commitment to sustainability, an increasingly important factor for consumers. This commitment can strengthen a brand’s image as environmentally responsible and socially conscious.

Reducing Plastic Waste

By promoting the use of reusable tote bags, companies contribute to a reduction in plastic waste, a critical factor in global environmental conservation efforts.

6. Choosing a Supplier for Custom Tote Bags

When selecting a provider for custom tote bags, it is essential to consider the quality of materials, customization options, and the company’s environmental practices. Vograce, for instance, offers a comprehensive selection of custom tote bags with a focus on quality and customer satisfaction, making them a reliable choice for both personal and professional needs.

Conclusion

Custom tote bags blend functionality, style, and environmental responsibility, making them a smart choice for consumers and businesses alike. They offer an effective way to promote sustainability, enhance brand visibility, and express personal style. As society continues to embrace eco-friendly practices and personalized products, custom tote bags stand out as a practical and stylish solution that meets the needs of modern consumers.

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MTN GHANA REFLECTS ON WORLD TELECOMS AND INFORMATION TECHNOLOGY DAY

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Stephen Blewett CEO For MTN Ghana

 On the occasion of the celebration of World Telecommunication and Information Society Day, MTN celebrates the transformative power of communication technology. At MTN Ghana, we remain committed to connecting people, enabling progress, and driving digital inclusion across our nation.

This year’s theme, “Digital Innovation for Sustainable Development,” is aligned with MTN’s Ambition 2025 strategy which seeks to lead digital solutions for Africa’s and Ghana’s progress with Environment, Social and Governance at the core. It demonstrates that technology, innovation, environmental and societal concerns are realities that cannot be overlooked if long-term sustainable socio-economic growth and prosperity is to be achieved in Africa. It also underscores the importance of leveraging and harnessing digital innovation in the telecommunications industry to provide innovative products and services, address global issues, drive socio-economic empowerment, and boost digital and financial inclusion.

Over the last 30 years, MTN has played a crucial role in Africa and Ghana in driving digital innovation on several fronts. From enhancing access to education and healthcare, boosting economic growth through digital skills and other support programmes, innovation in the fintech and digital economy sectors, fostering strategic collaborations, infrastructure investment among others, MTN’s contributions have been far-reaching and invaluable.

As a company rooted in Africa, our journey has been one of innovation, resilience, and collaboration. We have set the pace with our innovative products, empowered communities through our corporate social investments, and paved the way for a brighter digital future through our massive infrastructure investments. Partnerships with governments, businesses and others have been at the centre of our success in areas such as financial inclusion. As we reflect on our achievements, we extend our gratitude to each stakeholder who has been part of this remarkable journey.

As we celebrate the day, we reiterate the remarks of the CEO of MTN Ghana, Stephen Blewett, at the recent 3i Summit that “Africa’s fintech ecosystem is the engine that will drive its digital revolution and economic development in the coming years. Fintech can stimulate local economies and drive progress across the continent in several ways – financial inclusion, innovation and entrepreneurship, job creation, cross-border transactions and payments, digital identity and security, agriculture and rural development, government services, investment, and funding, as well as digital and financial literacy.”

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His call for policy and legal frameworks to encourage the establishment of innovation hubs and 

digital sandboxes to provide the platform for incubating, testing, and rolling out new products reinforces the need for governments and businesses to be deliberate and collaborate in their approach to sustainable development.  Such hubs will be the channels for mentoring and nurturing the next generation of African entrepreneurs while providing the necessary resources, environment, and training in the digital space.

As we mark World Telecommunication Day 2024, let us reaffirm our commitment to harnessing digital innovation for sustainable development. By embracing technology as a force for good and leveraging its transformative potential, we can all work together in shaping Africa’s progress. 

Today, we celebrate the power of connectivity, the promise of technology, and the unity of purpose. Together, we shape a future where every Ghanaian can thrive in the digital world and affirm our belief that “everyone deserves the benefit of a modern connected life.”

We thank all our customers for being part of our journey and wish everyone a Happy World Telecoms and Information Society Day.

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