By Chinwendu Obienyi
To providing ICT solutions that will add value to Nigerians’ transactional operations and tackle cyber threats in financial institutions, CWG Plc, is partnering with Customer XPs to deploy Clari5 software.
Speaking at a briefing with reporters in Lagos, CWG Plc Chief Technology Officer Moruf Yusuf revealed that the partnership with Customer XPs started in 2019 with the aim of reducing cybercrime.
While stating that the partnership was overdue, Yusuf noted that the two companies were able to onboard one of Nigeria’s largest banks, adding that it now has three Ghanaian banks on its platform.
“Beyond that, we’ve actually done so much Proof of Concept (POC) and we’re sure that before the end of this year, we’ll be adding more logos to our client roster. We’re also in discussion with other banks in Nigeria to see how we can integrate them into our platform.
We are able to do this because we have a solution that can prevent online fraud in real time. Other solution competitors in this space don’t have the kind of superior technology that we have and for that, our customers are happy to have boarded with us,â said Yusuf.
According to him, the software implemented in a short time not only meets the needs of customers but also those of regulators.
He said, âWe were also able to customize our solution to meet the requirements of the Central Bank of Nigeria (CBN). Beyond that we have good local support and interestingly we are not affected by the dollar regime and thanks to this unique partnership we are able to accept payments in local currency. We are also connected to all payment channels so that if a transaction should take place, we are the first to know and determine if it is fraudulent or notâ.
Corroborating Yusuf, CEO of Customer XPs, Rivi Varghese, said the software is connected to everything in financial institutions, from mobile, internet banking, automated teller machines (ATMs), banking hall, among others, and added that the software is built in a way to identify customer details before accepting a transaction.
“When the customer’s details do not match or when there are too many requests on the customer’s details or there is a suspicion on the transaction, it automatically blocks the customer’s account to ensure that there is no is not pirated.