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Lifestyle Banking – Not just a marketing Phrase!

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Mariam Agyeman-Buahin

Lifestyle banking sounds like a cleverly coined marketing phrase, depicted by a billboard splashed with models draped in haute couture, with pouting lips poking out of their intricately painted faces. On the contrary, it involves leveraging data and customer journeys to deepen relationships with the customer. This concept uses technology and consumer data to identify new opportunities to solve timely pain points or create delightful experiences. The key to decoding and delivering lifestyle banking, is a great customer experience strategy. There are some key considerations that must be made when actualising lifestyle banking for customers, and for the sake of an institution’s bottom line.

  1. Lifestyle and Life Stages

We cannot talk about lifestyle without considering life-stages. Customers in their 20s to 30s will be at a different life stage than those in their 30s to 40s and the same applies to those in their 50s to 60s.

In In their late 20s two 30s customers are finalising on their higher education or just entering the workforce. Some of their priorities might be towards reducing their student loans, making their first ever rental payment, for their first car, further education, or future family. Their lifestyle may tend to be thrifty, trendy and driven by social happenings such as concerts and events.

In their late 30s to 40s customers are building families or building their careers. Their priorities may involve school fees, building a family home and supporting extended family. Their lifestyle tends to be quality and responsibility driven. Whether in consumables, or in time. They think more of the future in terms of investments, school fees, and business capital.

In the late 40s to 50s customers are relatively settled. Their priorities tend to lie more on Paying off debts such as mortgages, medical bills and retirement planning. They are more driven by a financially safe retirement and leaving something behind for their offspring.

Customer journeys for each of the above brackets will look completely different and so should their lifestyle banking experience.

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  1. Technology

As mentioned, lifestyle banking means meeting customers at their pain points. One of customers pain points in banking is the inconvenience of having to visit a brick-and-mortar facility. This is where technology comes in. Today, most financial institutions have a form of digital aspect embedded in their banking process, but most banks do not have an end-to-end seamless digital experience. Lifestyle banking will require digitally astute execution. Most customers today regardless of their life stage, hate inconvenience. Let us be honest, who would rather spend their precious lunch hour waiting in a bank lobby as opposed to having lunch with their beloved? Having a digital platform is not enough, banks must also deliver what I refer to as the holy grail of digital banking. Reliability, Speed, and Integration.

Customer will hate you when they are sitting at that lovely café unable to pay their bills using their app because your system is down. Customers will resent you when they are forced to retry severally before completing an online transaction, just because your system is slow. Customers will despise you, when they must enter the same data at several touchpoints, because your system is not integrated. Customers will dump you when they cannot link alternative financial products to their bank account, due to lack of a foresight into their lifestyle and thus technology needs.

 

  1. Data

When it comes to using Data for digital and customer experience transformation, sensitisation is key. A lot of customers are deeply insecure about data. They find it daunting to share information as they do not know who is going to use it for what. Often times they do not dive the real data, and this may lead to mistargeted experience strategies.  The mistrust deepens when they must re-enter data at several points of their experience. In this age of Cambridge Analytica scandals and increasing incidents of internet fraud, customers must be assured of their data security. This can be achieved by training on data security both for the bank and customer and enacting a one-time capture policy. Data should be collected more than once only for purposes of verification (this should be far and few between) and updating.

The lifeline of the data puzzle once it is secured, is analysis. Data that goes un-analysed is a complete waste of server space. Investing in expert data analytics is undeniably the best investment an institution can make when trying to deliver real lifestyle banking to customers. Further investment into Artificial Intelligence (AI)-based analytics will help gain valuable data insights about customers and match their needs on a deeper level. It is important to note that e-commerce, e-entertainment, e-learning and several other e-activities are all becoming the lifestyle ecosystem of the modern consumer. Accurate data analysis will thus empower institutions to develop relevant products, as well as createpartnerships and alliances to meet the consumer need.

 

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In Conclusion

“Lifestyle banking means being present in people’s lives anywhere, at any time and creating constant bonding with them. It means transformation to something more than just an institution – to a reliable partner, guide, and assistant. ” – Jonathon Bartlett, Senior Business Development Manager, Financial Services at intive. The above three are just the starting point in developing and actualising Lifestyle banking. Unpacking the above factors will reveal sub-factors such as emotions, user experience interfaces and new data driven features. Unlocking the potential of lifestyle banking will increase revenues, increase customer loyalty, and create lasting impact on how customers use financial products to solve real life problems.

 

Written By: Mariam Agyeman-Buahin. Mariam is a seasoned Marketer, brand consultant and Fin-tech professional. 

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People & Lifestyle

Startup Street Global Seminar Offers Valuable Opportunities For Aspiring Entrepreneurs

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Startup Street Hosts Global Seminar

If you’re an aspiring entrepreneur or a startup owner looking for valuable opportunities, attending Startup Street’s Global Seminar is a must. This exciting event offers numerous benefits and advantages for individuals in the startup ecosystem. Here are several compelling reasons why you should grab your ticket and become a part of this dynamic community.

Access to Valuable Resources

As a member of the Startup Street community, attending the Global Seminar grants you exclusive access to a wealth of resources and information crucial for personal and business growth. You’ll gain insights from industry experts, successful entrepreneurs, and seasoned professionals who can provide invaluable guidance and advice.

Funding Opportunities

The Global Seminar connects you with potential investors and crowdfunding platforms. This opens doors to secure funding for your startup, enabling you to take your business to the next level. Whether you’re seeking seed capital or expansion funding, this event offers a platform to showcase your venture and attract potential investors.

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Enhanced Visibility

By attending the Global Seminar, you position your business/venture to gain substantial visibility. Startup Street’s official website features a publication section where your business can be showcased, allowing you to reach a wider audience and increase brand exposure.

Master Class Sessions

The Global Seminar presents a unique opportunity to attend master class sessions conducted by industry leaders and experts. These sessions cover a wide range of topics, including entrepreneurship, marketing, innovation, and leadership. You’ll gain practical knowledge and skills that can significantly impact your startup’s success.

Unlimited Digital Content

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As a member, you’ll enjoy unlimited access to a treasure trove of digital content. This includes webinars, workshops, e-books, and other valuable resources that provide continuous learning opportunities to fuel your entrepreneurial journey.

Platform for Promotion

The Global Seminar serves as an excellent platform to promote your business/venture. Engage with like-minded entrepreneurs, industry professionals, and potential customers, fostering meaningful connections and partnerships. Leverage this event to showcase your products or services, generate leads, and expand your business network.

Networking Opportunities

Networking is a vital aspect of startup success, and the Global Seminar offers ample networking opportunities. Interact with fellow entrepreneurs, investors, mentors, and industry influencers. Forge connections, exchange ideas, and explore collaborative ventures that can propel your startup forward.

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Don’t miss out on this incredible opportunity to be part of the biggest roadshow for startups. Secure your ticket to Startup Street’s Global Seminar today for only Ghs200. Dial *365*4433# or log on to tinyurl.com/globalseminar23 to purchase your ticket and unlock a world of possibilities for your entrepreneurial journey.

Attending the Global Seminar not only grants you access to a diverse range of benefits but also immerses you in a vibrant community that shares your passion for startups and innovation. Seize this chance to learn, grow, and accelerate your startup’s success

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People & Lifestyle

Opportunity for Film Industry Professionals: Submissions Now Open for the 3rd Creative Producers Indaba

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Submissions have opened for the third Creative Producers Indaba (CPI), a film producers’ development programme presented by the Realness Institute, in collaboration with EAVE, International Film Festival Rotterdam’s IFFR Pro, and the Marrakech International Film Festival’s Atlas Workshops.

 

Strong creative producers play a crucial role in driving the growth of local media markets, and the CPI aims to strengthen and grow the number of capable producers on the African continent. Mehret Mandefro, Director of Development and Partnership at the Realness Institute says, “Creative Producer Indaba is addressing the most important gap in the local African media markets – training producers that can develop and finance local stories for the global and local markets. We are thrilled to be launching the third edition.”

Since its inception in 2021, the CPI has nurtured outstanding film talent and facilitated meaningful collaborations that have empowered participants to identify the right partners for their African projects. There are numerous success stories, and a shining example is the collaboration between three African producers: Bramwel Iro from Kenya, Caroline Kganyago from South Africa, and Zoe Ramushu from South Africa. These talented individuals, who participated in last year’s Indaba, are now set to co-develop their projects with Dutch producer Ellen Havenith, whose film Tiger Stripes just won the Grand Prize at Cannes’ Critics Week. These collaborations exemplify the power of the CPI in fostering connections that transcend borders and build pathways to production for African projects.

The CPI offers 10 African producers with and without projects and 5 international producers the unique opportunity to augment their leadership and entrepreneurial skills, deepen their producerial capabilities, and build professional networks across Africa and beyond.

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2022 alumnus Zoe Ramushu (Zimbabwe/SA) reflects on her experience in the CPI:  “It is a great programme for producers wanting to sharpen their knowledge, build their network and expand their entrepreneurial horizons.”

 

“The CPI aims to empower creative producers and industry leaders in Africa,” says Kristina Trapp, CEO at EAVE. “EAVE is proud to contribute with our methodology to support the groundbreaking work done by Mehret Mandefro and Elias Ribeiro of the Realness Institute.”

 

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“We are thrilled to once again be part of Indaba,” says Facundo Lema, Talent Manager at IFFR Pro. “The programme  continues to demonstrate the importance of collaboration and fostering a sense of community within the industry, as vital elements in empowering and boosting producers’ careers. One of the most remarkable aspects is the creative exchange and the exploration of the countless opportunities that will unfold during the IFFR Pro days.”

 

The Creative Producers Indaba participants will also attend the Atlas Workshops during the Marrakech International Film Festival in November and attend industry sessions at the International Film Festival Rotterdam in January 2024.

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The chosen participants will enjoy the valuable opportunity of receiving mentorship from prominent figures in the industry, including Group Leaders Mehret Mandefro and Diana Elbaum, as well as Story consultant  Mmabatho Kau. Guest speakers such as producers Femi Odugbemi, Katriel Schory, Sata Cissokho, Constanza Arena  and Dayo Ogunyemi, along with IFFR Festival Director Vanja Kaludjercic, will generously share their skills, insights, and guidance.

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“The CPI welcomes not only film producers but also film professionals who work closely with producers, including funding body representatives, international sales representatives, distributors, broadcasters, and development executives who have a vested interest in the African marketplace,” says Mehret Mandefro  “We are pleased to announce the renewal of our partnership with Projeto Paradiso, which secures one spot for a Brazilian producer. Furthermore, we are thrilled to introduce our new partnerships with the Canada Media Fund, The Austrian Film Institute, and the Swiss organisation Focal.”

 

Applicants must meet certain criteria, including having produced at least one feature fiction, series, or documentary film, or a minimum of two short films as a lead or co-producer. Film professionals should have a minimum of two years of professional experience.

The deadline for submissions is July 3rd , 2023, at 12:00 Central African Time.

The Realness Institute gratefully acknowledges the support of Institut Français d’Afrique du Sud, the Brazilian foundation Projeto Paradiso, the Austrian Film Institute, The Canada Media Fund, the Austrian Film Institute, The Swiss organisation Focal and The Storyboard Collective, Jeune Creation Francophone and CNC in partnership with European Audiovisual Entrepreneurs (EAVE), International Film Festival Rotterdam Pro (IFFR Pro), and Marrakech International Film Festival (Atlas Workshops).

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For more information and submission details, please visit the Realness Institute website at https://www.realness.institute/creative-producer-indaba.

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People & Lifestyle

West African Monetary Institute (WAMI) partners with EMTECH SOLUTIONS INC to modernize fintech regulatory frameworks across the West African Monetary Zone

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Leadership of WAMI and EMTECH in a group photograph after the signing ceremony scaled

The West African Monetary Institute (WAMI) and EMTECH SOLUTIONS Inc. today announced a strategic partnership to modernize country-level and regional regulatory sandboxes, enabling the harmonization of heterogeneous Fintech regulatory policies and frameworks across the West African Monetary Zone (WAMZ). The collaboration aims at strengthening financial integration across the WAMZ member states.

WAMI and EMTECH will establish a knowledge and collaboration program called WAMZ RegEX, which focuses on showcasing regulatory innovation, sharing insights from global and regional regulatory sandbox benchmarking, onboarding a cohort of WAMZ regulatory sandboxes to conduct rapid pilots, and promoting value. Additionally, the partnership will involve publishing research and case studies, as well as capacity-building programs and thought-leadership workshops.

Olorunsola E. Olowofeso, Director General of the West African Monetary Institute (WAMI), emphasized the importance of the partnership saying, “Our collaboration with EMTECH marks a new chapter in our commitment to creating a unified financial landscape in the WAMZ and signifies a critical step towards achieving a more integrated and technologically advanced financial ecosystem in West Africa. We look forward to the positive impact this partnership will have on our member states and the broader West African region.”

Souleymane Tall, Director of Financial Integration at WAMI, highlighted the strategic value of this collaboration and stated that the partnership with EMTECH would align with our core mission to promote financial integration and regional economic development. By working together, we could unlock new opportunities, improve access to financial services, and contribute to the overall growth and stability of the West African Monetary Zone. 

Tunji Odumuboni, Executive Director, Africa at EMTECH, remarked, “We are excited and honored to collaborate with WAMI to drive financial integration and economic development within the WAMZ.” EMTECH’s expertise in Central Bank Digital Currency (CBDC) and Digital Regulatory Sandbox technology will support WAMI and WAMZ member states in fostering an environment conducive to financial innovation.

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Carmelle Cadet, Founder and CEO of EMTECH added, “The collaboration between EMTECH and WAMI aligns with our mission of making financial markets inclusive and resilient for everyone, by modernizing central banking infrastructure.” 

“We are eager to work with WAMI to deploy solutions addressing local and regional fintech innovation and regulatory frameworks in the West African Monetary Zone.” Cadet continued, “As many countries are developing fintech regulatory frameworks, a regulatory sandbox is a powerful tool to support safe innovations and capitalize on  investment opportunities and economic growth. From the U.S. to Europe, regulators need novel new tools. By joining efforts with WAMI, we are committed to work closely with all 6 member states and support them along this new journey of modern central banking in Africa. In EMTECH, they have a real partner for the long haul.” 

For more information about the partnership between WAMI and EMTECH, please contact [WAMI Press Contact] at [+233 (0)302 743801] or [info@wami-imao.org] and [EMTECH Press Contact] at [+1 415 889-7444] or [info@emtech.com].

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People & Lifestyle

Kudos Badman lights up the streets again with new single and video ‘Lonely’

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The newest release from Kudos Badman is finally here. We are thrilled to announce ‘Lonely’ as the next captivating single from the Afro-Dancehall star who brought us the well-received street hit ‘Badman’, accompanied with a music video. Listen HERE: https://fanlink.to/kudosbadman-lonely

On ‘Lonely,’ Kudos brings his signature blend of Afrobeats and Dancehall rhythms to fans again, engrossing them with thought-provoking lyrics that explore themes of independence and self-reliance. According to the star, this surefire anthem will resonate with anyone who chooses to walk their own path and find solace in their own company. And its hook highlights this: “Lonely/Guided by my own story/Man must sin, nobody holy/So I just light my kpoo on a low.” 

This year, Kudos Badman gained buzz with his previous release, ‘Badman’ and ‘Lonely’ is set to raise the bar twofold. “I’m excited to share this new track [‘Lonely’] with the world,’’ Kudos shares. “I believe its message will resonate with anyone who has ever felt like they don’t need anyone else to validate their worth. I hope that ‘Lonely’ will inspire people to embrace their individuality and be proud of who they are.’’

‘Lonely’ was produced by Skonti, who is widely known for his works for some of the industry’s biggest names, like Kwaw Kese, Samini, Pappy Kojo, Medikal, Edem, Raquel etc. It was recorded at ItNoks Studios, with both mixing and mastering handled by Skonti.

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CONNECT WITH KUDOS BADMAN:

TWITTER: @kudosbadman
INSTAGRAM: kudosbadman
FACEBOOK: Kudos badman 

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People & Lifestyle

Elevate Father’s Day Gifting with Handwoven Ties: The Perfect Blend of Style and African Heritage

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Father’s Day is just around the corner, and it’s time to honor the special men in our lives with a memorable and stylish gift. This year, step away from the ordinary and surprise your dad with something extraordinary.
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People & Lifestyle

Way To Maximize Winning With Slot E Wallet Free Credit

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How To Play Online Slots Like a Pro

What is Slot E Wallet

Slot e wallets are a type of digital wallet that allow users to store, send and receive virtual currency. They are becoming increasingly popular as they provide a convenient way for people to make payments online. 

The most common form of slot e wallets is the Slot Free Credit, which is a virtual currency that can be used in various online stores and websites. With this type of wallet, users can make secure payments without having to worry about their personal information being compromised in online betting in trusted site. Additionally, they can also take advantage of the various promotions and discounts available through the use of this virtual currency.

Slot e-Wallet is a digital wallet that allows users to store, manage, and use their funds across multiple platforms. It is an easy and secure way to make payments online without having to worry about carrying cash or using credit cards. 

The main benefit of using a Slot e-Wallet is that it offers free credit for slot games. This means that you can play slots without having to deposit any money into your account. This makes it an ideal choice for players who want to try out different slot games without risking their own money. Additionally, the free credit offered by the Slot e-Wallet also helps players save on transaction fees as they don’t have to pay anything when transferring funds from one platform to another.

 

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Simple Way To Maximize Your Winning with Slot E Wallet

Having an e-wallet makes it possible for players to enjoy online gambling without having to worry about security. They also offer the convenience of being able to access funds from anywhere and at any time. In addition, they help players keep track of their gambling activities and finances. They can use their e-wallet to withdraw or deposit winnings. However, there are a few things to consider before using this option. 

In order to use a slot e-wallet free, players must first create an account with the e wallet service provider. This may involve providing personal details such as their name, email address, and phone number. Once the account is created, they can then link it with their casino account. Alternatively, they can choose to link their e wallet with a different payment method. Once they have linked their e-wallet with their casino account, they can begin playing. 

One of the biggest benefits of using a slot e-wallet free is that it allows players to try out different games without risking their own money especially in trusted online casino Singapore. This is especially beneficial for new players who are unfamiliar with the rules and strategies of various games. It is also a great way for players to practice their skills and improve their chances of winning real money. 

Another advantage of using a slot e-wallet is that it allows players to deposit and withdraw money quickly and easily. This is because e-wallets are connected to their bank accounts, which means that they can transfer funds to and from the casino in just a few clicks. This is much faster than the process of entering card details into an online casino and it is also more secure, as the e-wallet providers have high security standards. 

Lastly, many online casinos and gambling platforms offer free credit e-wallet slots to attract and retain users. This is a good way to promote new games and to encourage player loyalty. However, players should always read the terms and conditions of the games they are playing to ensure that they are safe and secure. Moreover, players should be aware of the fees and charges that apply to transactions with e-wallets.

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Conclusion

To sum up, free credit casino bonuses offer players an opportunity to explore new casinos and games without taking any risks with their own money. These bonuses come in various types, such as no deposit bonuses, e-wallet slot bonuses, free spins, and exclusive bonuses. However, it is important to note that each type of bonus has its own set of terms and conditions, which players should carefully read before accepting any bonus offer. For instance, some bonuses may have wagering requirements, which means that players have to wager a certain amount of money before they can withdraw their winnings. Additionally, some bonuses may have expiry dates, so players should use them before they expire. By understanding the terms and conditions of free credit casino bonuses, players can maximize their chances of winning while minimizing the risks involved.



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