• Friday, May 17, 2024
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BusinessDay

5G, 6G increases risk of cyberattacks — NCC

Fintech unveils platform to support businesses streamline  operations  Tomisin Fatoba  FinTrust Technologies Ltd., a fast growing fintech business has launched the PawaSuite platform to help businesses streamline their operations.    FinTrust through PawaSuite initiative, it brainchild project, is providing comprehensive business management solutions that are meticulously crafted for the unique demands of the Nigerian market.   The transformative platform is poised to revolutionize the operations and success trajectories of businesses, NGOs, and government agencies across Nigeria and beyond.  According to FinTrust,  the platform isn’t just another software platform, it’s an all-encompassing business management ecosystem designed to streamline operations across various sectors.   With its suite of features including sales, finance, HR, CRM, project management, marketing, and communication among others covers every aspect of organisational functionality.  “Our mission with the platform is to empower businesses of all sizes, from startups to established enterprises, with the tools they need to succeed in today’s competitive landscape,” Eyo Eluma, founder and CEO of FinTrust Technologies Ltd said.   “We understand the unique challenges faced by businesses in Nigeria, and PawaSuite is our answer to those challenges.”  Speaking on what sets the platform apart from others, the founder said whether it’s managing sales pipelines, handling finances, tracking projects, or nurturing customer relationships, the platform offers specialised modules tailored to specific industries- hotel management, pharmacy management, NGO management, and more.  The platform’s user-friendly interface and intuitive functionalities make it accessible to users with varying levels of technical expertise, he noted.  “Unlike complex and cumbersome alternatives, PawaSuite is designed to be flexible and easy to use,” he said.   “We believe that technology should empower, not hinder, business growth.”  Key features of the platform includes bulk communication that reaches customers effortlessly through bulk email, SMS, and WhatsApp messaging, and CRM which nurture leads, manage client interactions, and enhance collaboration with comprehensive CRM tools.  Others are HR management which  simplify HR tasks such as attendance tracking, leave management, payroll, and performance evaluation, and project management which helps businesses keep projects on track with task management, milestone tracking, and seamless team collaboration.  The platforms also provides sales and finance, customization and security for businesses

Fifth-generation (5G) and sixth-generation (6G) technology and other advancements in network technology increase the risk of cyberattack, the Executive Vice Chairman of the Nigerian Communications Commission, Dr Aminu Maida, has disclosed.

The NCC boss noted this is because of the increased interconnected devices and denser network infrastructure. He stressed that network advancements come with the responsibility of addressing new risks, from cybersecurity threats to ethical considerations.

Maida revealed this during a two-day Telecoms Industry Risk Management conference in Lagos.

The conference, themed ‘Evolution and Future Risk Management in the Telecoms Industry: Harnessing Emerging Technologies and Trends,’ aims to address new challenges that come with technological advancements.

Speaking through Mr. Ubale Maska, the Commission’s Executive Commissioner for Technical Services, Maida said, “While we discuss the current landscape of 5G networks, which boast of wider attack surface due to the increased number of connected devices and denser network infrastructure, it is imperative to even cast our gaze into the future.”

As more people get online, the risk of attack increases. Commenting on risks associated with 6G, the NCC’s CEO noted, “We are witnessing the dawn of 6G technology, the next frontier in wireless communication. With promises of even faster speeds, lower latency, and groundbreaking applications, 6G has the potential to revolutionise how we experience connectivity.”

In 2023, GSMA, the global association of telecom operators, revealed that 5G will be exposed to more cyber threats because of its higher data speeds and lower latency.

Samantha Kight, head of industry security at GSMA, explained that higher data speeds and lower latency will provide cybercriminals with new opportunities to launch sophisticated attacks.