By Chinwendu Obienyi
To deliver ICT solutions that will add value to Nigerians’ transactional operations as well as tackle cyber threats in financial institutions, CWG Plc, is partnering with Customer XPs to deploy the Clari5 software.
Speaking at a briefing with newsmen in Lagos, the Chief Technology Officer, CWG Plc, Moruf Yusuf, revealed that the partnership with Customer XPs started in 2019 in a bid to ensure cyber-crime is reduced.
While stating that the partnership was overdue, Yusuf noted that the two companies have been able to onboard one of the largest banks in Nigeria, adding that it now has three Ghanaian banks on its platform.
“Beyond that, we have actually done so many Proof of Concepts (POCs) and we are sure that before the end of this year, we are going to add more logos to the list of clients that we have. We are also in discussions with other banks in Nigeria too to see how we can bring them on our platform.
We are able to do this because we have a solution that can prevent fraud in real time online. Other solution competitors in this space do not have the kind of superior technology that we have and for that our clients are happy that they came onboard with us”, Yusuf said.
According to him, the software which has been brought in a short time meets not only the customers’ needs but also regulators’.
He said, “We have also been able to customize our solution to meet the Central Bank of Nigeria (CBN)’s requirements. Beyond that, we have good local support and interestingly, we are not affected by the dollar regime and because of this unique partnership, we are able to accept local currency payments. We are also connected to all the payment channels so that if any transaction is to take place, we are the first to know and to determine if it is fraudulent or not”.
Corroborating Yusuf, the Chief Executive Officer, Customer XPs, Rivi Varghese, said the software is connected to everything in the financial institutions starting from mobile, internet banking, Automated Teller Machines (ATMs), banking hall amongst others and added that the software is constructed in a way to identify details of the customers before agreeing to a transaction.
“When the details of the customer do not correspond or when there are too many enquiries on the customers’ details or there is a suspicion on the transaction, it automatically blocks the account of the customers to ensure it is not hacked.