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AI And Digital Innovation Poised to Play Crucial Role in Shaping Banking Across Africa – KPMG Survey

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According to the findings of KPMG’s inaugural Southern African Banking Survey that was recently released, Artificial Intelligence (AI) and Digital Innovation are poised to play a crucial role in shaping the future of banking in Africa.

The survey suggests that technology-driven advancements will continue to drive transformation and growth within the banking sector throughout the African continent.

According to respondents, this growth would be driven primarily by opportunities in investment banking, corporate banking, and transaction banking, followed by retail and wealth management, underpinned by innovation that enables more customers to access banking services through mobile banking.

Speaking on this, Auguste Claude-Nguetsop, a partner and head of Banking Advisory at KPMG in Southern Africa said that the integration of AI in Africa’s banking sector, as well as digital innovation, will be crucial for financial inclusion, improved customer service, amongst several others.

In his words,

One need only look at the remarkably quick uptake of mobile payments across Africa, and then compare it to the more legacy systems still prevalent in the developed world. AI and digital innovation open further opportunities for financial inclusion, personalization, and customer service.

“The arrival of digital-first banks in Africa, and their easily understood customer offerings has proven this. Challenged by legacy infrastructure and technologies, skills shortages, and regulatory requirements, traditional financial institutions have a longer adoption curve”.

However, the survey highlighted key challenges that would limit such technological advancements which include, the existence of a reliable regulatory framework, solid governance and transparency across the industry, as well as considerations around anti-money laundering and compliance, as well as currency and political risk.

In the survey, 38% of participants confirmed that between 21% and 30% of their IT budget was devoted to these priorities. However, 54% of survey participants indicated that the primary factor preventing the adoption of AI and digital innovation lay within budgetary constraints. 50% outlined that they had, or intended to deploy AI technologies to reduce the costs associated with compliance.

By embracing technological advancements, banks in Africa can unlock new opportunities for innovation, drive financial inclusion, and pave the way for sustainable growth in the digital era.

At least half (51%) of the 153 African banks surveyed in the African Digital Banking Transformation Report 2023 consider digital transformation to be the one most important factor in their growth strategies.

Also, with Al becoming increasingly important, overtaking cybersecurity as the most important trend, Al-powered tools are enabling these banks across the continent to engage with customers effectively, build local natural languages into interactions, and improve credit scoring.

Overall, the findings of the KPMG survey underscore the pivotal role of AI and digital innovation in shaping the future of banking in Africa.

Is every natural disaster a climate change effect?

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In recent years, the term “climate change” has become a constant presence in our collective vocabulary. We’ve witnessed the aftermath of various natural calamities such as droughts, floods, hurricanes, and heatwaves, often attributed to the shifting climate patterns. While it’s undeniable that climate change plays a significant role in exacerbating these disasters, it’s crucial to recognize that not every catastrophe can be solely pinned on this global phenomenon.

Climate change, primarily caused by the emission of greenhouse gases like carbon dioxide and methane, leads to a myriad of adverse effects on our environment. Rising temperatures, melting ice caps, erratic weather patterns, and changing precipitation levels are just some of the visible manifestations of this phenomenon. Human activities such as burning fossil fuels, deforestation, and industrial processes significantly contribute to the acceleration of climate change.

However, it’s important to discern between disasters that are directly linked to climate change and those that stem from natural occurrences or human negligence. For instance, while a severe hurricane may be intensified by warming ocean waters due to climate change, not every hurricane can be attributed solely to it. Hurricanes are a natural part of Earth’s atmospheric processes and have occurred long before human-induced climate change became a concern.

Similarly, floods and droughts can result from a combination of factors, including natural weather patterns, topography, and human activities. Blocking waterways, improper waste disposal leading to river contamination, and land-use changes that affect natural drainage systems are examples of human actions that can exacerbate flooding or drought conditions. While these activities may indirectly be influenced by climate change, they are primarily driven by human decisions and behaviours rather than direct climatic shifts.

Moreover, there’s a concerning trend where the term “climate change” is sometimes misused or exploited for political or financial gain. Some politicians or organizations may opportunistically use the rhetoric of climate change to secure funding or advance their agendas, even if the disaster at hand is not directly caused by climate variability. This misuse not only detracts from genuine efforts to address climate change but also undermines public trust and dilutes the urgency of the issue.

To address these complexities, it’s essential to approach each disaster with a nuanced understanding of its causes. While climate change undoubtedly amplifies the frequency and severity of certain events, not every calamity should be automatically labelled because of climate change. Instead, a comprehensive assessment should consider the interplay of natural factors, human actions, and the broader environmental context. Furthermore, there’s a critical need for transparency and accountability in the allocation of climate change funds. Proposals for mitigation and adaptation measures must undergo rigorous scrutiny to ensure that resources are effectively utilized for genuine climate action rather than being siphoned off for unrelated purposes or falling victim to corruption.

While climate change poses a significant threat to our planet and exacerbates many natural disasters, it’s essential to recognize that not every calamity is directly attributable to it. By understanding the nuances of each disaster and addressing both the underlying causes and the impacts of climate change, we can work towards building more resilient and sustainable communities. It’s time to approach the issue of climate change with the complexity and seriousness it deserves, while also guarding against misrepresentation and exploitation for personal or political gain.

How To Shape Policy and Habits for a Sustainable Future

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Sustainability, climate action, and environmental stewardship are no longer what we can consider just moral duties. They are moving fast to become legal obligations. Considerations like disclosing Environmental, Social, and Governance (ESG) data, conducting comprehensive supply chain assessments, protecting biodiversity, and combating greenwashing have become significant concerns on the political and regulatory fronts, as they should.

These changes are not just reactive measures but proactive steps to mitigate the impact of climate change, ensure ethical business practices, and create a resilient foundation for the future. As you may know, people are working behind the scenes to forge strong relationships with government bodies and regulators. Overall, the goal is to advocate and drive policy changes to ensure a more sustainable future for you and me.

This group comprises diverse stakeholders such as businesses, non-profits, and advocacy organizations, pursuing a mission to create a regulatory framework that fosters sustainability, supports climate action, and upholds environmental stewardship.

Here’s some of what these stakeholders do.

Advocacy for Change:

They advocate policy changes that align with the principles of sustainability. By leveraging their expertise and influence, they work towards shaping regulations that address current environmental challenges and lay the groundwork for a sustainable future. Their input ensures that policies are effective and considerate of diverse interests.

Transparency and Accountability:

Another one is promoting transparency and accountability. These stakeholders actively participate in disclosing ESG data, ensuring that information about an organization’s environmental impact, social responsibility, and governance practices is open to all. This transparency builds trust and enables informed decision-making by investors, consumers, and regulators.

Supply Chain Sustainability:

Recognizing the interconnectedness of global supply chains, they emphasize the need for comprehensive supply chain assessments. By identifying and mitigating environmental and social risks within supply chains, they contribute to creating more sustainable and resilient business practices. This approach not only safeguards against reputational damage but also aligns with the broader goal of fostering a sustainable global economy.

Combatting Greenwashing:

In pursuing genuine sustainability, they play a crucial role in combating greenwashing – the deceptive practice of presenting a false impression of environmental responsibility. By actively engaging with regulators to establish clear definitions and stringent measures against greenwashing, the collective ensures that businesses are held accountable for their sustainability claims.

So, where do you and I come in?

You don’t need a label that says “stakeholder” for you to start doing something, too.

We must step up collectively to begin doing rather than just watching. So long as you live on this planet, you can consider yourself a stakeholder.

How do you want to drive positive changes for a sustainable future? What personal commitments are you making? Within your network, how are you moving your friends and family to make commitments to a sustainable future? Do you have access to circles of influence?

It can be as simple as looking at the waste disposal culture around where you live or work and asking how this can enhance a sustainable future. And if you find an issue with it, you begin to drive for some policy changes even at that level. How do your neighbors take care of the waterways and drainage systems? How do you take care of your non-recyclable waste?

The collaboration can start from the bottom and go all the way up.

Crypto Experts Believe These Cheap Cryptos Will Turn Your $10 to $1000 in 2024

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After battling the bear trend for days, the market is now bouncing back, with many coins heading to the uptrend. While crypto investments are tricky, smart investors are always searching for low-priced tokens that will yield massive income in the short term. Despite the high volatility in the market, some top crypto coins still guarantee high returns.

After analyzing the market, experts believe that KangaMoon (KANG), Dogwifhat (WIF) and Gala (GALA)  are some of the low-priced coins that will return massive profits before the end of Q4. While KangaMoon is on presale, numerous analysts have picked the native token KANG as one of the best cryptos to invest in Q2.

KangaMoon (KANG) Raises $5M at Stage 5 Presale, To Hit $6M Soon

While Dogwifhat and Gala have made names for themselves in the crypto market, KangaMoon has gotten more traction from investors in the past few weeks of presale. The new Play2Earn project is built for meme enthusiasts. The platform is building an ecosystem where users can participate in various activities and earn rewards.

In the ecosystem, players can earn virtual currency and rare in-game items when they win matches, participate in special events, and complete thrilling quests on the platform. These items can be traded or sold in the KangaMoon games marketplace. Outside of these, token holders will earn more tokens when they join in promoting the project online.

Meanwhile, the KangaMoon referral system encourages members to bring people onto the platform in exchange for rewards. Moreover, the KangaMoon project has raised over $5M at its presale and is projected to hit $6M in the month. Having started the presale at $0.0050, KANG is now sold for $0.0196 which shows early KangaMoon investors have raked in over 290% ROI.

The team has announced plans to list the token before the end of Q2. As such, analysts are projecting 50x rallies in the coming months. If that happens, the token price might reach $0.50 in Q2. With the games market worth over $176B, it would be wise to invest in KANG and benefit from the billion-dollar market. Experts pick KANG among the best cryptos to buy for short and long-term gains.

Dogwifhat (WIF) Upward Momentum Continues as Coinbase Makes Big Announcement

Whales continue to invest in Dogwifhat (WIF) as the token continues its bullish run. Based on CoinMarketCap data, Dogwifhat’s price gained 22% in the past month. This impressive feat has placed it among the top crypto coins to buy in Q2.  At the current trajectory, the token could break its ATH record of $4.85 in the coming days. Coupled with the surging Dogwifhat trading volume and market cap, the possibility of a massive rally is high.

Meanwhile, Dogwifhat has broken through the $2.80 key support zone and is now targeting a retest of the $3 mark amid the Coinbase perpetual contracts announcement. The second largest exchange recently announced it will list WIF for perpetual futures trading on Coinbase International Exchange and Coinbase Advanced with trading expected to commence on April 25.

Gala (GALA) Price Prediction

Gala (GALA) Price has displayed mixed price sentiments, which calls for precaution. As per CoinMarketCap data, the Gala price plummeted 12% in the past month and 22% in the past week. With the 10% gain in the past few days, a bullish reversal is expected.

The Gala trading volume is experiencing a daily average increase of 20%, with the market cap also in the uptrend. Experts believe that in the coming weeks, Gala will test the upper resistance level of $0.07, and should it break through, it might hit $0.1 in May.

Discover the exciting opportunities of the KangaMoon (KANG) presale today!

Website: https://kangamoon.com/

Join our KangaMoon community: https://t.me/kangamoonofficial

MetalCore Closed Beta Launches On Immutable zkEVM, INJ and New DeFi Token Show Bullish Signs

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In the dynamic world of cryptocurrency, three notable developments have captured the attention of investors and enthusiasts alike. Injective, a promising token, shows signs of potential growth as it enters a consolidation phase, while MetalCore, a groundbreaking gaming project, launches its closed beta on Immutable zkEVM.

As market watchers closely monitor Injective’s key metrics and MetalCore’s immersive gaming experience on Immutable, Castula Network, one of the best crypto in the market, shines as a beacon of innovation in the DeFi sector.

Injective Token Shows Signs of Potential Growth

As the Injective (INJ) token enters a consolidation phase, market watchers are keeping a close eye on key metrics to gauge its future direction, particularly whether it could soar to the $40 mark. On April 9, the number of daily active addresses surpassed 1,000 for the first time since January 12, signaling heightened user engagement.

Additionally, network growth, which measures the creation of new addresses daily, has risen to 234 as of April 9, up from a low of 130 recorded on April 4. The steady increase in Injective’s network growth, often a precursor to price movements, indicates a continuous influx of fresh capital and a growing user base.

A closer look at Injective’s In/Out of the Money (GIOM) data reveals significant activity, with many addresses having bought in between $23 and $31.50. Currently, 44.27% of Injective holders in this range are in profit, while 42.88% remain in loss and 12.85% are break-even. The current price level is crucial for holders, as any upward movement could push more ‘Out of the Money’ holders into profit, potentially fueling further price growth for INJ.

MetalCore Closed Beta Launches on Immutable zkEVM

Studio369, the developer behind the Ethereum-based mech shooter game MetalCore, has unveiled the latest closed beta test, marking the first playable title deployed on the new Immutable zkEVM scaling network. Running until April 22, the second MetalCore closed beta introduces exciting new features such as new quests, the Barony system (equivalent to guilds), advanced customization options, and more, poised to fit with Immutable.

Additionally, players will earn “marks” during gameplay, which can be converted to MCG tokens once they are generated, enabling an airdrop of the upcoming token.

Powered by Polygon’s zkEVM technology, Immutable zkEVM offers cheaper and faster transactions than the Ethereum mainnet, making it an ideal platform for Web3 gaming. Studio369 CEO Matt Candler expressed excitement about MetalCore becoming the first playable Web3 title on Immutable zkEVM Mainnet, coinciding with the start of the second closed beta event.

Castula Network Is One Of The Best Crypto To Invest In

Castula Network is simplifying DeFi for everyone and leading the charge in revolutionizing decentralized finance (DeFi) with its user-friendly platform that allows users to buy, sell, and swap cryptocurrencies instantly. Users can easily exchange cryptocurrencies without the need for complex procedures like connecting wallets, ensuring a hassle-free experience.

Moreover, Castula Network is also empowering users with non-custodial solutions. One of Castula Network’s key features is its non-custodial crypto wallet, which allows users to manage their crypto assets with complete peace of mind. With no personal information required or collected, users have full control over their funds, with their assets securely stored on their devices.

At the heart of the Castula Network ecosystem lies the CNK utility token, offering holders exclusive benefits and privileges. All the features that Castula Network presents to investors make it one of the best crypto to invest in right now for only $0.1.

Join Castula Network Presale Now:

Website: https://castulanetwork.com/

 

Telegram: https://t.me/CastulaNetwork

Twitter: https://twitter.com/CastulaNetwork/