THIS WEEK IN REVIEW:AI in Fintech
Web3 Afrika Dev Roundup August 1-6TH more funding announcements +AI in Fintech+web3 corner +Developer corner +NGENI's week recap
✨RELEVANT NEWS funding announcements
➥Kenyan insurtech startup Lami raises US$3.7m seed extension round
disrupt
Kenya-based B2B and B2B2C insurance-as-a-service platform and API Lami has raised a US$3.7 million seed extension round to help it expand across Africa.The insurance platform enables partner businesses including banks, tech companies, and other entities to easily and seamlessly offer digital insurance products to their users via its API.
Lami founder and CEO Jihan Abass said the additional funding would be used for business development, product and technology development, and expansion to other countries including Egypt, Nigeria, and Uganda.
➥Egyptian Web3-focused venture studio Qurious Labs raises funding
Egyptian Web3-focused venture studio Qurious Labs has raised funding from Openner as it bids to back bold entrepreneurs in the MENA region building Web3 companies that utilize blockchain, digital currencies, NFTs, and gaming to explore the Metaverse.
➥Aku, a Nigerian full suite fintech payments and banking service platform, implicitly announced an undisclosed pre-seed from The Fintech Fund and others
Turning smartphones into point-of-sale devices was a long-time goal at Google Pay, which Aku is now achieving. For consumers, Aku provides simple, flexible debit cards that generate rewards every time users spend
WEB3 CORNER🚀
➥What exactly does Web3 bring to the industry of finance?
In finance, Web3 takes innovation way further than Fintech. Along with offering new financial services and income opportunities, it’s aimed to reform the whole underlying finance infrastructure at its core.
➥Will there be a Significant Impact of AI in FinTech over the Next Decade?
Artificial Intelligence(AI) has taken the world of tech by a blast. AI in the FinTech market is being utilized at a rising rate. It is ready to significantly affect the FinTech industry to automate different internal processes, as well as boost the bottom line.
Forbes, in its report, states “Artificial intelligence will save the financial business more than $1 trillion by 2030”.Artificial Intelligence (AI) has changed the FinTech sector lately. It is ready to alter the world of payments soon. With the capacity to rapidly break down enormous amounts of information to determine significant insights and data, AI solutions are utilized by organizations to create efficiencies and understand patterns that can further simplify decision making.
👩💻TECHNICAL CORNER
📌Developers corner.
➥ How to read a smart contract and why you’d want to in the first place.
Reading a smart contract gives you insight into the popularity of a project, how distributed its ownership is, and what it’s capable of.
Plus, you can investigate the details of every transaction. A big advantage in web3.
From Dennoh Peter ,Senior Developer
➥Here are some very helpful tutorials on Web3, Defi, Solidity, and Vyper.
From Enock, Junior Developer
STORY OF THE WEEK 👌🔥
Every story has to start from somewhere. In late 2020 NGENI was formed with only four people. I am excited to inform all of you that, as of now, we are a team of 60 plus people 👏🎉which is immense growth for the business at large.
This week has been hectic as we have been strategizing how work has to continue at our homes due to elections. As you all know, Kenya is having its general election on 9th August 2022, and most people will travel to their hometowns to exercise their democratic rights.
Fingers crossed, it’ll be less intense, and we shall all make it out alive through the election period. Let’s maintain peace, and may the best man win🤞.This has been the third week of the intense developer sprinting and hackathon challenges🤘. We can say that now the developers are improving; as they say, practice makes progress. 🔥
That's all for this week ,have a lovely week ahead.❤
Thanks for reading👌
Contact us: NGENI Linktree
Shiko Karanja✍
ABOUT NGENI🔥
NGENI is Kenya and East Africa's first pure-play and largest Blockchain & Web3 development engineering Studio with a 60-plus-person team. The studio recruits and trains recent graduates from STEM Universities across Kenya and today has twenty-five (25) talented developers, at our Kilimani Headquarters.
All engineers have successfully taken on complex coding challenges, and hackathons and have ultimately delivered on complex multi-Blockchain applications, bots, and dApps for international projects.