Nigeria-based United Bank for Africa (UBA) is rolling out fraud and anti-money laundering (AML) technology from Actimize across 700 retail distribution centres in the country.
The bank has signed for the Actimize Risk Management platform and Enterprise Risk Case Manager to help it detect and mitigate employee, electronic payment and ATM and debit fraud, as well as money laundering. The deployment will be split into two phases over several months.
Andre Blaauw, group chief risk officer, UBA, says: "The Actimize Solutions will take UBA's fraud and illegal crime risk management capabilities to the next level, by utilising state of the art analytical prevention tools in addition to merely detection, which is the norm in most banks."
Sam Okenye, group head, IT risk management, UBA, says the technology will also boost the bank's e-banking business by enabling real-time fraud prevention.
Nigeria has gained a reputation as a haven for fraud, embezzlement and money laundering but over the last couple of years many of its banks have looked to combat the problem by installing new systems.
Last year Unity Bank and Zenith Bank both signed for ACI Worldwide AML software whilst First Bank of Nigeria acquired money laundering and fraud detection technology from Mantas.