In Nigeria, banking is about to get open
Last week, the Central Bank of Nigeria (CBN) released draft regulations for the open banking framework in Nigeria. It’s in line with the prediction by Stears Business that conversations around open banking regulations would move forward in Nigeria in 2021. What’s all the fuss about? Open banking, often described as the future of banking, is the idea that traditional banks should share the transaction data of customers with fintechs, challenger banks and other third parties.
It sounds simple but the implications are far-reaching. With shared transactional data, customers can compare banking services easily and decide between banks. Importantly, it could allow fintechs to really compete with banks by taking all of that information and using it to create unique solutions that meet customer needs.
Today in Funding: PLATO, BreatheSuite, TrojAI
Three Atlantic Canada startups, PLATO, BreatheSuite, and TrojAI, have recently announced fresh funding rounds to fuel their growth. Here’s the latest on who raised, how much, from whom, and what they’ll be putting the new funds toward.
PLATO receives $500,000 CAD from Raven Indigenous Capital
Fredericton-based PLATO Testing has received a $500,000 investment from Raven Indigenous Capital Partners.
The equity funding round closed at the end of November, and will be used to support the training and employment of First Nation, Métis, and Inuit students as software testers.
PLATO specializes in training and employing Indigenous software testers to provide diverse software testing solutions to clients throughout North America. It focuses on projects that would have typically been sent offshore.
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Techstars Montreal AI’s 2020 Virtual Demo Day showcases latest cohort
This week, Techstars Montreal AI 2020 held a Virtual Demo Day to showcase 10 artificial intelligence (AI) startups from around the world chosen to participate in its accelerator program.
The accelerator process began in February and extended into July. This year’s group of startups were selected based on three core themes, including AI being at the core of the product; the product allowing non-experts to use and apply AI; and the product addressing some of the unique challenges faced when running AI systems.
Founders from Canada, France, Portugal, and India, pitched their startups through a virtual platform for the demo day. The startups in the cohort covered areas including data analytics, SaaS, manufacturing, image personalization, security, health, AI education, and the environment.
ARKANSAS CODING ACADEMY TO HOLD DEMO DAY
The Arkansas Coding Academy (ArCA) at the University of Central Arkansas will hold its Virtual Demo Day on Tuesday, Dec. 15, from 2-4 p.m. via Wonder.me at the following link: https://www.wonder.me/r?id=qigu88-tlve1. Graduates of the most recent part-time class will present their final projects before entering the information technology workforce as computer programmers.
Demo Day is an event that allows recent ArCA graduates to showcase their work to the community and potential employers. It serves as an opportunity for students to discuss their projects and network with the community as they prepare to enter the career field. The students are taught a wide range of software development tools that allow them to create a “full stack” web application. These tools include popular languages like Hypertext Markup Language (HTML), Java and Structured Query Language (SQL).