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LATEST TECH NEWS: Y Combinator selects Nigeria Fintech startup Mono. 2 other things and a trivia you need to know today, February 3, 2021



These latest stories from the tech space will keep you updated with trends today.

1. Y Combinator selects Nigeria Fintech startup Mono

p;/Silicon Valley-based accelerator Y Combinator has selected Nigerian fintech startup, Mono, into its Winter 2021 batch.

The Fintech player, Mono, through the selection, banks US$125,000 funding and further support.

Founded in August 2020, Mono helps digital businesses in Africa access their customers’ financial and identity data.

According to press, its plug-and-play technology allows customers like Flutterwave, Carbon and Indicina to access a broad range of high-quality financial data from institutions across Africa through a single API.

Abdul Hassan, founder and chief executive officer (CEO) of Mono, explained that its startup’s API enables businesses and developers to build applications that connect with their users.

He said: “Mono is the API for financial accounts. Our API enables businesses and developers to build applications that connect with their users’ financial accounts in a manner that is many more times reliable, predictable, performant, and fair than anything else available.”

Tech Trivia:

Who is the richest tech genius?

A. Mark Zuckerberg
B. Jeff Bezos
C. Bill Gates
D. Michael Dell

Answer: See end of post.

2. Transcode develops app to help banks, telecoms combat fraud

Kenyan startup Transcode has announced developing a fraud management software for banks and telecoms.

Transcode shared the news with the public in a press release, where it disclosed it is currently seeking funding to scale it across the continent.

According to Transcode, iGuard is a fraud and money laundering detection engine that leverages the power of artificial intelligence (AI) to prevent and detect complex fraud, in real-time, in banking and telecommunications companies.

Adam Hassan, founder and chief executive officer (CEO) of Transcode, explained that the iGuard product is currently attracting patronage in the industry.

He said: “The application has extra analytics and link analysis modules for investigative teams and analysts. It’s currently in use in a telecommunications company and a financial services provider.”

READ ALSO: LATEST TECH NEWS: Kenyan startup Pula closes $6m Series A funding round. 2 other things and a trivia you need to know today, January 26, 2021

3. Knowledge Officer launches tech fellowship programme for MENA region

In its effort to continue building personalised learning paths, Edtech startup, Knowledge Officer, has launched a Tech Fellowship programme.

The programme, which was aimed at comprehensively upskilling participants, is expected to foster innovation in the industry of tech within the Middle East and North Africa region (MENA).

Ahmed El-Sharkasy, CEO and cofounder, Knowledge Officer, who spoke on the development, expressed optimism on the future of the project.

He said: “We are very excited about launching the Tech Fellowship as part of our MENA Skills Initiative with a fantastic range of partners in the Middle East. There has never been a time where impactful and market-driven training is needed more than now.

“We promise our learners that we will do our best to help them navigate the current uncertainty due to the instability in the job market and to give them a solid opportunity not just to upskill but to have amazing job opportunities as well,” he added.

Tech Trivia Answer: Jeff Bezos ($113 billion)

In 1994, Jeff Bezos launched Inc. (AMZN) after leaving a well-paying job at a Wall Street hedge fund. By starting Amazon as a simple online bookseller, Bezos was hoping to cash in on the rapid growth of Internet businesses in the 90s. Yet, through the years, both he and Amazon have proved to be transformative. Today, he leads the pack with the Microsoft genius Bill Gates ($98 billion) coming next.

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