BANK OF AFRICA, a pan-African bank present in 31 countries worldwide: 20 residing within the eponymous region, will implement NetGuardians‘ fraud prevention software. It is using the Swiss fintech’s enterprise risk platform to further safeguard its assets and branches in Morroco against internal and payment fraud.
More than 25 client banks across Africa and the Middle East are using NetGuardians as their anti-fraud solution. Furthermore, it is trusted by 40 per cent of the largest banks in East Africa. NetGuardians is working with banks to protect more than $7trillion in assets from fraudsters and was listed as a Global Leader in the 2021 Aite-Novarica report on Fraud and AML Machine Learning Platforms.
Building an intricate anti-fraud culture is paramount to the growth of pan-African banking. Five of the top 10 countries most affected by fraud are in Africa, according to the Global Economic Crime and Fraud Survey.