Tuesday, December 6, 2022

FinTech Innovator TSLC Announces Its Plans to Launch Its Neo-Banking Platform in Nigeria

The Social Loan Company (TSLC) is set to offer its unique credit-led neo-banking platform for the underserved in the African market.

DUBAI, Arab Emirates - October 31, 2022 - (Newswire.com)

The Social Loan Company announces its transformative TLSC Platform Services will go live in Africa in Q1 2023 through two game-changing partnerships in Nigeria to improve financial inclusion in the region.

Deepak H. Saluja, Co-Founder & Group CEO at TSLC, said: "Financial exclusion negatively impacts the lives of over 50% of adults in Africa. Despite massive FinTech usage, financial inclusion remains a concern for Africans. As a FinTech innovator, we aim to provide affordable and transparent access to credit and other basic financial services that improve the financial well-being of digital natives. Beginning in 2023, we will achieve this in Nigeria through our unique AI/ML-powered neo-banking platform and by partnering with leading banking and non-banking institutions in the region."

Mr. A. M. M. Moyen Uddin, Deputy Managing Director, Dhaka Bank Limited, Bangladesh, said: "We see affordable access to financial services as critical to improving the financial wellness of our consumers. In early 2022, we started eRin by leveraging the power of TSLC Platform Services as a pilot project with Central Bank approval. Since then, we've achieved astonishing success, including a 40% monthly increase in MAU (Monthly Active User), serving millions of Bangladeshi Gen-Zs and Millennials in a pilot phase, and we're about to lunch it publicly in a grand ceremony with regulatory approval. We are excited about what's coming next for TSLC Platform Services and the impact it will inevitably have on the African continent."

 In Nigeria, the biggest economy in Africa, over NGN 27 trillion (~$62 billion) circulated only last year through various transactions from unbanked or underbanked individuals not accounted for by the country's central banking system. However, the country has seen a growth of 54% in FinTech usage among consumers, giving a glimpse of wide adoption among African countries as the primary enabler of financial inclusion in the region.  

TSLC's unique AI/ML-powered neo-banking platform allows traditional banks to accurately measure their consumers' credit scores and provide loan approval within minutes. This offers consumers affordable, secure, and quick access to credit when they need it.  

So far, TSLC's neo-banking services have helped its joint ventures and traditional banking partners achieve excellent results in Bangladesh, including:  

  • Provide a loan approval within four minutes  
  • Reach 40% monthly growth on monthly active users (MAU).  
  • Plans to achieve the $20 million landmark in disbursed loans by the end of the year.  

TSLC's ultimate goal is to serve the financially underserved globally and allow young millennials and Gen Z to unlock their full potential. After launching in Nigeria with two partners, TSLC Platform Services plans to scale further across the country and region through 2023. 

About TSLC

Founded in 2016, The Social Loan Company, or TSLC, is a global venture builder on a mission to make financial inclusion a reality for underserved digital natives in emerging and frontier markets. TSLC aims to revolutionize money and cater to the financial needs of millions of credit-thin, new-to-credit, and credit-invisible customers. Using an industry-leading Al/ML-powered neo-banking platform, TSLC aims to lower the barriers and democratize credit by bringing a paradigm shift in financial access, enabling cost efficiencies, transparency, and speed. TSLC's unique proprietary platform is deployed across TSLC Retail, a direct service to consumers through its app and embedded finance ecosystem, and TSLC Platform Services, where TSLC's PaaS offerings accelerate a bank's digital and mobile-first transformation journey to offer a full suite of neo-banking products and services to its consumers in a matter of months. 


Shagorika Heryani
Global Chief Marketing Officer at TSLC
[email protected]

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Contact Information:
Shagorika Heryani
Global Chief Marketing Officer
[email protected]

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Original Source: FinTech Innovator TSLC Announces Its Plans to Launch Its Neo-Banking Platform in Nigeria
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BosonQ Psi to Integrate the World’s First Quantum-Powered Engineering Simulation Software With the Strangeworks Ecosystem

BosonQ Psi joins Strangeworks Quantum Syndicate, and integrates the company's flagship software, BQPhy™, with Strangeworks' hardware ecosystem, thereby enabling its customers a full-stack quantum experience.

BosonQ Psi to Integrate the World’s First Quantum-Powered Engineering Simulation Software With the Strangeworks Ecosystem
Strangeworks and BosonQ Psi

Strangeworks and BosonQ Psi

AUSTIN, Texas - December 5, 2022 - (Newswire.com)

Strangeworks announced its partnership with BosonQ Psi (BQP) by being the quantum system provider for BQP's simulation platform, BQPhy™, the world's first quantum-powered engineering simulation software for enterprise customers in aerospace, automotive, manufacturing, biotech, and many others. With this partnership, BQP's customers can now harness a wide range of quantum computers, including quantum gate based systems, quantum annealing systems, and quantum inspired solutions seamlessly from within the BQPhy software. The Strangeworks platform provides the flexibility to easily integrate an entire quantum ecosystem into the products of the quantum software vendors. This seamless integration enables the company's software to automatically select the appropriate quantum resources at the exact moment in time the resource is required; based on a variety of factors including availability, time, budget, number of qubits, decoherence and gate times.

"We at BosonQ Psi strongly feel that the Strangeworks ecosystem is a game-changer for BQPhy as it makes us truly quantum hardware-agnostic and adds flexibility to the customer purchase experience. This partnership allows our users to harness the scalability of our hybrid quantum-classical backend," says Abhishek Chopra, Founder and CEO of BosonQ Psi. He further added, "Customers can now get state-of-the-art quantum-powered engineering solvers integrated with industry leaders in quantum hardware with a pay-as-you-go model."

BosonQ Psi exemplifies how end-user application providers benefit from a single source solution explicitly designed to deliver quantum capabilities to their customer base. Both hardware and software companies can take advantage of the Strangeworks quantum ecosystem to enable system to system integrations, eliminating the need for subject matter experts to understand quantum mechanics, be technically knowledgeable about the various quantum hardware systems, or even have to select the appropriate hardware for their tasks.

"We are excited to see more and more quantum solutions providers utilize the Strangeworks ecosystem to enhance their own products and services," said Whurley, Founder and CEO of Strangeworks. "Strangeworks is committed to engineering solutions that make it easier for our partners to provide their customers with all of the quantum capabilities available in the market today without the complexity currently required to implement quantum services in the enterprise."

To get started with the BosonQ Psi software, BQPhy, request access at https://go.bosonqpsi.com/sales-demo or apply via the Strangeworks Backstage Pass program at https://strangeworks.com/backstage.

About Strangeworks

Headquartered in Austin, Texas, Strangeworks is a new kind of company, made up of serial entrepreneurs, enterprise software developers, and quantum physicists who seek to humanize quantum computing and make it accessible to everyone. By guiding companies through the confusion of quantum computing, Strangeworks helps accelerate the integration of this new technology in corporations, universities, and enterprises.

To learn more about how Strangeworks can accelerate your quantum journey visit https://strangeworks.com

Contact: [email protected]

About BosonQ Psi

BosonQ Psi (BQP) is a Quantum SaaS software venture which is bringing the power of Quantum computing in the hands of enterprise end-users. The simulation capabilities deployed by BQP combine a hybrid infrastructure that highlights the near-term value additions for customers via a quantum-based solution that significantly reduces the time for high-accuracy simulation. This means products can get to market faster and reduce overall costs for production and recalls. The company has successfully finished multiple PoCs and is currently conducting pilots with BQPhy, which is planned to release in mid of 2023. BQP is headquartered in Bengaluru, India with a presence in USA and UK.

To learn more about how you can experience next-gen simulations, visit us at https://www.bosonqpsi.com

Contact: [email protected]

Contact Information:
Casey Barthels
[email protected]

Press Release Service by Newswire.com

Original Source: BosonQ Psi to Integrate the World's First Quantum-Powered Engineering Simulation Software With the Strangeworks Ecosystem
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