UBA explains choice of Actimize

THE United Bank for Africa (UBA) Plc has adduced some reasons why it choose Actimize, an anti-fraud banking solution, saying it avails preventive mechanism against any manner of electronic fraud.

Group Head, Information Technology (IT) Risk Management, UBA Plc, Mr. Sam Okenye, made this disclosure in Lagos, at a one-day seminar organized by the Computer Warehouse Group (CWG), with the theme: Fighting Fraud with Technology, solutions for Nigerian banks.

He said that Actimize affords banks to have less personal contact with customers, yet executing its banking operations in line with global best practices.

“Banks should be able to monitor transactions,” he said, stressing that Actimize offers the ability to effectively screen all transactions, flowing from the various channels real time.

Also, he said, that Actimize affords the ability to prevent fraud on real-time and log suspicious transactions for investigations in addition to having the timely detect account manipulation by insider real time.

“It offers the ability to detect skimmed cards and subsequently stop fraudulent transactions real time as well as the ability to detect identity theft and prevent web-based transactions from scaling through real-time,” he said.

According to Okenye, Actimize offers his bank the opportunity to detect suspicious transaction and even capture this for further investigations.

By empowering investigations to focus on dealing with key exceptional issues, he said, was an encouragement for the bank.

He further revealed that UBA evaluated five software vendors before settling down for Actimize.

“Our search for the right solution led us to evaluate five vendors,” he declared.

Welcoming guest earlier, the Group Managing Director, CWG, Mr. Austin Okere, said the seminar was crucial because Nigerian banking institutions needed the right solution to battle fraud associated with real time banking services.

He explained that without the right technology solutions, Nigerian banks may end up going astray in effort at fighting fraud within the system, even to the extent of declining customers.

As said by him, the one-day seminar was organised in conjunction with world leaders Actimize, ISEC and RVR.

He noted that I-SEC Technologies, formally ICTS Technologies B.V, is a fully owned subsidiary of ICTS International N.V.; a world leader in aviation security for over two decades, which has pioneered the development of innovative security concepts and systems.

Also, he said, I-SEC Technologies, specializes in the development and implementation of unique, state-of-the-art technological solutions for the homeland security market, designed to meet financial market needs as well.


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