Intelligent CIO Africa Issue 25 - Page 9

NEWS Fintech start-up launches in South Africa F intech start-up SOL Wallet has announced its launch in South Africa. The company develops a bank-alike money management platform for retail customers, where anyone can deposit, save, invest, make payments and manage their expenses via mobile and web apps. SOL Wallet allows users to register and create multi-currency accounts online, buy and sell currencies at interbank rates, trade crypto at the best market rates, pay service providers and utility bills, send money to friends, get a SOL card and pay in stores. So, it’s time to disrupt traditional banks by doing the same things easy and cheap with the help of technology.” SOL is conducting the closed beta testing in South Africa and will launch its products for the public in March. SOL Wallet has launched in South Africa “Traditional banks are good as custodians for your money but are not that good in solving your everyday payment needs,” said SOL Wallet CEO Boris Frischter. “They charge high commissions and overcomplicated fees while not providing customers with careful service. People are spending hours on paperwork and queues to understand their charges. We believe it’s not fair and the bank should benefit its clients. ///////////////// Predictive Analytics and Machine Learning to help health professionals T he Cloudera Foundation, which was set up in 2007 because its founders believe that the responsible use of data is a powerful tool to make progress on the world’s most challenging problems, is to award US$640,000 to Terre des hommes to use predictive analytics and Machine Learning to help health professionals in West Africa. It will support a project called Integrated e-Diagnostic Approach (IeDA), which has equipped hundreds of clinics in Burkina Faso with computer tablets to help health professionals diagnose and treat deadly diseases such as pneumonia or diarrhoea among children under the age of five. The Ministry of Health will also be able to better detect health threats and improve how the government allocates resources to reduce child morbidity and mortality. “Collecting data can be extremely difficult in West Africa, especially in remote areas, and IeDA has made important strides in overcoming this challenge,” said Riccardo Lampariello, Terres des hommes’ head of health programs. “Our partnership with the Cloudera Foundation will allow us to use such a wealth of data in much more powerful ways. Working with this sophisticated technology and partnering with their data scientists will help improve diagnoses, spot trends, and upgrade health clinics management with the ultimate goal to save children’s lives.” INTELLIGENTCIO 9