CWG Plc has partnered with Customer XPs Software to tackle rising electronic fraud in the banking industry with deployment of Clari5, a software solution that prevents fraud real time online.
Clari5 is a global product leader in banking for enterprise financial management and has been deployed in 23 countries around the world, Rivi Varfhese, CEO, Customer XPs Software, said at a press conference to officially announce the partnership.
He further explained that the solution adopts customized approach to fight fraud.
Varghese expressed optimism that the solution would help in driving down fraud in Nigeria’s banking sector with more adoption by other banks.
Moruf Ireti Yusuf, chief technology officer for CWG, said that the company has been able to onboard one of the oldest and largest banks in Nigeria within few months of its take-off in 2019, while three banks are already on.
Yusuf stated that more banks are expected to key into the solution before the end of the year.
“We are able to do this because we have a solution, perhaps the only solution that can prevent fraud real time, online,” Yusuf said.
He said the company has within a short period been able to demonstrate that it can bring a solution that will meet not only the customers’ but also the regulator’s need.
“Because we have a very deep understanding of the local regulation, we have been able to customize our solution to meet all the Central Bank of Nigeria (CBN) regulation and I can tell you, our customers are happy coming along with us,” he said.
CWG is a pan-African systems solutions company that specializes in a wide array of IT services, including communications and integration services, infrastructure services, managed and support services, cloud services, and software.