By Jerome-Mario Chijioke Utomi Similar to a February 16, 2022, media report where economic experts urged the federal government to seek a debt moratorium and reduce the cost of governance to cut funds expended on debt servicing because it is the best option at the moment as it will enable the government to suspend payment […]
UBA upgrades Chatbot features, as Leo launches service on Google Business Chat, Instagram
Africa’s Global Bank, United Bank for Africa (UBA) Plc has announced the expansion of the services of Leo, its Artificial Intelligence chatbot to Google Business Chat and Instagram.
Leo – UBA’s AI-powered chatbot, which enables customers to make use of their social media accounts to carry out key banking transactions – was first introduced in January, 2018. It has since evolved to become a custom-fitted, personalised virtual banker to several UBA Customers across its 20 African countries. Before now, UBA’s Leo was servicing customers on Facebook Messenger, Whatsapp and Apple Chat.
The bank also announced an interesting upgrade to the existing features of Leo, where customers can now carry out their activities in a 3D animated format. Armed with this upgrade and with its recent expansion to Instagram and Google Business, customers will now be able to carry out more transactions from the comfort of their homes and can now perform more activities such as funds transfer, checking balances, buying airtime and data, and getting their bank statements with ease, from any of these social media platforms.
UBA’s Group Managing Director/Chief Executive Officer, Kennedy Uzoka, who spoke about the upgraded features of Leo, explained that the bank was always on the lookout for innovative ways to develop strategies aimed at easing transactions for the bank’s numerous users, while ensuring utmost safety of their transactions.
He said, “At UBA, we have been working with technology giants that have the global capacity to ensure not only seamless but also effortless banking for millions of our customers across Africa. We at UBA, have collaborated with the very best to actualise this unbeatable innovation that is capable of revolutionising the way banking is done in Africa.”
He disclosed that Leo’s activities has aptly spread across Africa, changing the face of e-banking in other key African locations including Cameroon, Zambia, Cote D’Ivoire, Senegal, Congo DRC, Tanzania, Kenya, Uganda, Sierra Leone, Gabon, Chad, Congo Brazzaville, Benin, Mozambique, Zambia, Guinea, Burkina Faso, Mali.
Uzoka emphasised that the uniqueness of Leo lies in the convenience. “Customers can initiate transactions without leaving their favoured phone applications. By bringing Leo to the comfort zone of its customers, UBA’s chat banking became a pioneer innovation and has since enjoyed leadership status in the chat banking space,” he explained.
Since inception, Leo has been effortlessly enhancing the digital customer experience in banking and also achieving a range of other benefits like 24/7 availability as the chatbot Leo stays available round the clock to assist customers and handle the common financial queries asked by the customers.
United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than twenty-five (25) million customers, across 1,000 business offices and customer touch points in 20 African countries. With presence in New York, London and Paris, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross-border payments and remittances, trade finance and ancillary banking services.
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Terra co-founder, Do Kwon, summoned by South Korean parliament over Terra debacle
Do Kwon, one of the co-founders and a major decision-maker of the Terra blockchain, has been summoned by the South Korean Conservative Party for a parliamentary hearing, following the fall in the value of both the native token of the blockchain, LUNA and its native programmable stablecoin, UST.
This news comes after Kwon announced another plan to restore the ecosystem. As told by Kwon, Terraform Labs will put forth a new governance proposal on May 18 to fork the Terra blockchain. According to him, the new chain will not be linked to the TerraUSD (UST) stablecoin. He also mentions that the old Terra blockchain will continue to exist with UST and will be called Terra Classic (LUNC). Under Kwon’s plan, if passed, the new LUNA blockchain will go live on May 27.
The announcement of Kwon’s summon was made by a South Korean local news page and it explained that the National Assembly’s Political Affairs Committee today is summoning Terraform Labs co-founder Do Kwon for a parliamentary hearing regarding the issue.
What you should know
- According to the report, Korean exchanges responded differently to the collapse.
- The committee’s representative, People’s Power’s Yoon Chang-Hyeon stated, “There is a part that raises questions about the behavior of exchanges during the crash. Coinone, Korbit and Gopax stopped trading on May 10, Bithumb on May 11 stopped trading daily, but Upbit did not stop trading until May 13.”
- He also noted that “as the legislation is delayed, investors’ losses are increasing, the authorities continue to see the huge loss of investors and are helpless to protect investors.”
- He further suggested that “We should bring related exchange officials, including Terra CEO Kwon Do to the National Assembly to hold a hearing on the cause of the situation and measures to protect investors.”
- Following the historic depegging of its algorithmic stablecoin, UST, and the subsequent death spiral that plummeted LUNA tokens to practically nothing, Kwon has tabled a plan to save the ecosystem.
As previously reported by Naijaonpoint, Kwon suggested that the Terra ecosystem be forked into two chains, with the current network known as “Terra Classic” (LUNAC) and the new chain known as “Terra” (LUNA).
He explained in a Twitter thread that both chains will coexist, but the old tokens will be rebranded as LUNAC while the new ones will be known as LUNA. The launch of the new chain will necessitate that Terra developers airdrop new LUNA tokens to holders of the old LUNAC and UST, as well as developers after the plan, is put into action, Kwon added.
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