UNDERSTANDING SUPER APPS AND LEGAL PERSPECTIVES

With Super Apps on the rise,there are key integration functions that are most preferred by tech
innovators who tap into this move, some include the company WeChat, ByteDance (Chinese
version of TikTok and TikTok's parent company and Twitter's X). What are some of these
functions?

The first most integrated function is Fintech functions, Fintech functions could come in different
parts,it could be through E/neo banking, Insurtech,Deep tech and Finance, Wealth
management, Entrepreneurial management, Crowdfunding/Bootstrapping, E-commerce,
Financial lending,Regtech, Blockchain and Payment and Remittance services. However the
most preferred are payment and remittance and E-commerce services.

Payment and Remittance services enable users to transfer funds seemlessly while E-commerce
enables the cash out process to be well in check, payment and remittance alongside E-
commerce has become more popular following the line of cashless systems and the
advancement of internet services that make this possible. Atimes this is the most preferred for
Fintech innovators e.g PayPal, Flutterwave etc, the advantages of this integration is that there
will be platforms that will not only ensure communication but commercial services increasing
productivity to another level.

Another functional integration is the Web3/Blockchain technology integration.

Web3 is the new internet which would be empowered by the decentralized technology of the
Blockchain system. These system will ensure an upanache in the user experience as well
reduce complaints of low latency in browsing features. The Blockchain feature will also ensure
that payments are more secured in an era where security in terms of payment and deposits
have become high priority, with this functions in place we can ensure multivarief functions that
will boost human productivity.

There is also the integration of Artificial Intelligence systems which most applications are not
new to, however these functions are specific interns of goal. Artificial Intelligence could either be
through Machine learning, Natural learning Programming e.g ChatGPT, Image recognition
systems, Object recognition systems, Light Detection and Ranging (LiDAR),Speech recognition
and Computer vision. With this, innovators willing to have a super app can use a function and
integrate into its system for seamless performance.

In the light of these functions Integration is the crux of super apps which would boost
productivity,connect dilated environments and open new doors of discovery and innovation that
has never been witnessed in a great era as ours.

With the Knowledge of the Super Apps era and the function Integration system,are there
legalities in the use of these systems,we will explore some of them.
The first legality is in the aspect of Fintech functions, Innovators intending to integrate Fintech
based functions must follow international regulation frameworks for application systems which
are most times limited to Anti Money Laundering (AML) guidelines, Know Your Customer (KYC)
and Counter Terrorism Funding regulation (CTF). They must also take note of the local
regulational systems for jurisdictions some which include deposit security regulation, cash
reserves and financial data etc.

The second is in data control, in an age where cybersecurity is to an extent at its lowest with
protection mediums, it is very essential for Innovators to be kept abreast of data control
systems, data control is not only essential but data processing and how data subjects are
managed alongside data sources. Some of these regulation based systems include policy
frameworks that state how these data is controlled, manipulated, processed, stored and used.
The use of innovation through cyber security tech and reg tech to ensure that data is adequately
explored etc.

The third is Intellectual Property, Function integration is not just enough but appropriate use of
functions are legal, when functions are used without the permission of function creators without
licensing it could be regarded as infringement, it might be either trademark (Ai function
systems), Copyright (for other forms of functions like softwares and codes), Patents and Trade
secrets. That is why function creators must ensure that their systems are licensed through the
use of User license agreements, developer licenses among others. This is why most innovators
prefer having their functions created inhouse to maximize IP ownership but if such were not the
case, Innovators must follow due process.

The Fourth is in the light of Funding, which could either be Private equity,Mergers &
Acquisitions, Debt Financing through the debt capital markets, IPOs through the Capital markets
and Venture Capital. This is very essential as Innovators would be looking to critical funding for
their multifunctional systems. However most investors (Limited Partners) so far have not been
pleased in the turn out of investments which is as a result of back door activities such as asset
fixation, imbalance in balance sheet and account books, overvaluation and aggregation of net
worth hence regulation follow through contractual agreements and due diligence through honest
auditing services will suffice.

When all these are followed up ,we have Super Apps that fulfill their true purpose.