Mainstreet Bank Limited, one of the leading commercial banks in Nigeria, has successfully deployed Infosys Finacle version 10.2.0.9 core banking application to drive the bank’s technology transformation, deliver superior customer service and help customers achieve their financial goals.
Finacle, a comprehensive, integrated, modular and agile business solution addressing all the core needs of banks, is being implemented and supported by Infosys and Computer Warehouse Group (CWG), Infosys sole Business Alliance Partner in Nigeria with offices in Nigeria, Ghana, Uganda, and Cameroon.
Finacle provides all the building blocks of business functionality, which will enable Mainstreet Bank users to configure products and processes flexibly to adapt to a dynamic environment.
With a 360 degree single source view into customer accounts, Mainstreet Bank will have the ability to empower customers with relevant information and deliver right fit, real-time services through the preferred usage channel.
Anogwi Anyanwu, executive director, Operations and IT Mainstreet Bank who spearheaded the Mainstreet Bank team in the implementation of the Finacle version 10, expressed optimism, that Finacle version 10 would improve the operations capacity of the bank.
He is positive that with the successful implementation of Finacle, Mainstreet Bank is now well positioned to provide world class services to its customers.
Also speaking on Finacle deployment, Faith Tuedor-Mathews, group managing director/chief executive officer, Mainstreet Bank Limited, said that “The new banking application will support the innovative products and services we want to launch into the market to delight our customers.
Finacle is a robust system that will also provide the platform upon which all our service touch points including alternative channels like ATMs, mobile and internet banking, collection services, and other e-banking media will operate with utmost efficiency.”
She added. “We have re-engineered our banking system and have achieved a new positioning which has seen us attract the best talents in the Nigerian Banking Industry. Our disciplined approach to investment and risk management has positioned us to deliver increased value to all our stakeholders,”
VenkatramanaGosavi, regional head, Growth Markets Infosys Finacle said “It is an exciting opportunity for us to partner with Mainstreet Bank in their banking transformation agenda. We look forward to helping the bank deliver value oriented banking experience to its customers, while accelerating growth and roll-out of new products and services. The successful implementation at Mainstreet Bank, along with CWG our local partner, reinforces Finacle’s position as the leading technology provider for banks in Nigeria.”
Mr. Femi Ibine, software Division Hhead of CWG, said “We are delighted to be a part of this success story and are strongly committed to ensuring that Mainstreet Bank, like all other Finacle customers in West Africa, enjoys the best support services from CWG’s 24×7 Support Hub located in Lagos, Nigeria”.
James Agada, chief technology officer, Computer Warehouse Group, who led the CWG team that worked on the Mainstreet project, expressed his gratitude to the various teams—CWG, Infosys and Mainstreet bank—for the teamwork and diligent professionalism they brought to the project, which contributed immensely to the excellent and timely delivery of the project.
“Considering the technology value embedded in Finacle 10, it is certain that Mainstreet Bank will deliver value to their customers” He says.
Austin Okere, founder and chief executive officer, Computer Warehouse Group was delighted about this new development in Mainstreet Bank and believes it will result in improved customer service for Mainstreet Bank, and enable the bank to excel and compete with leading brands in the industry
Okere, who is passionate about enabling businesses with cutting-edge technology, congratulated Tuedor-Mathews and the management of the bank for taking the right decision to deploy Finacle version 10 Core banking applications.
According to Austin, “It is not enough to know the appropriate technology to run a bank you must be determined to acquire and use the best.”
Infosys and CWG have implemented the Finacle core banking software for about 55% of the banks in Nigeria, including FBN, UBA, Stanbic Bank, FCMB and Fidelity bank among others.
Join Inlaks Live TechTalk Edition on Hyosung’s Revolutionary MV 100 ATM Model
Inlaks, the leading Information Technology Systems Integrator specialised in the deployment of highly scalable ICT Infrastructure solutions, will on Monday September 28, deploy the second edition of its virtual thought leadership segment called “TechTalk”.
Techtalk which was formerly a pre-recorded segment hosted on the organisations YouTube channel has now transitioned into a live virtual event across Instagram, Facebook, Twitter and YouTube. The virtual edition kicked off in August 2020 with a segment on Financial Crime Mitigation, honing in on the superiority of Temenos Financial Crime Mitigation Solution with Emmanuel Orororo, Sales Manager, Financial Business, Inlaks.
The 2nd edition of Tech Talk promises to offer the same measure of insights as it dives into the world of Automated Teller Machines (ATM) with a focus on MoniValue 100, a revolutionary ATM solution by Hyosung TNS. The MoniValue 100 is especially adapted to the present times as it is a cardless, contactless and changeless solution.
Join this virtual event live by logging on to any of the social media pages below on Monday, 28th September 2020. YouTube: Inlaks, Facebook: InlaksNg, Twitter: Inlaks, Instagram: InlaksNg
Inlaks is a leading system integrator in Sub-Saharan Africa. The company partners with leading OEMs in the technology industry to provide world-class information technology solutions that exceed the needs of its customers.
Over the years, Inlaks has built a reputation as the foremost ICT and Infrastructure Solutions Provider, helping customers effectively seize new market and service opportunities.
With an impressive customer base that includes six Central Banks in West Africa, 18 of the 24 banks in Nigeria and other major customers in the West African region, Inlaks has become the dominant Information Technology Company in Africa.
Inlaks’ customers cut across various segments including Banking, Telecommunication, Oil/Gas, Power, Utilities and the Distribution sectors of the economy. For more information, please visit www.inlaks.com
Millions of Cyber Attacks Launched on Nigeria, Others- Reports
There were 3.8 million malware attacks and 16.8 million Potentially Unwanted Applications (PUA) detections over a 7-month period in Nigeria, according to Kaspersky security solutions.
Elsewhere in South Africa, there were almost 10 million malware attacks and a staggering 43 million PUA detections, showing the growing desperation of the attacks.
The company reported on 28 million malware attacks in 2020 and 102 million detections of potentially unwanted programs (pornware, adware etc.) accounted for by the beginning of August 2020.
These numbers show that it’s not only the malware that attacks users but also the “grey zone” programmes that grow in popularity and disturb their experiences, while users might not even know it is there.
Potentially unwanted applications (PUAs) are programmes that are usually not considered to be malicious by themselves.
However, they are generally influencing user experience in a negative way. For instance, adware fills user device with ads; aggressive monetising software propagates unrequested paid offers; downloaders may download even more various applications on the device, sometimes malicious ones.
calculating interim results of threat landscape activity in African countries, Kaspersky researchers noticed that PUAs attack users almost four times more often than traditional malware.
They also eventually reach more users: for instance, while in South Africa, the malware would attack 415,000 users in 7-months of 2020, the figure for PUA would be 736,000.
“The reason why ‘grey zone’ software is growing in popularity is that it is harder to notice at first and that if the programme is detected, its creators won’t be considered to be cybercriminals. The problem with them is that users are not always aware they consented to the installation of such programmes on their device and that in some cases, such programmes are exploited or used as a disguise for malware downloads,” said Denis Parinov, a security researcher at Kaspersky.
By taking a closer look at PUA, it becomes apparent that they are not only more widespread but also more potent than traditional malware.
Evaluating results over the same 7-month period in Nigeria, there were 3.8 million malware attacks and 16.8 million PUA detections – which is four times as much.
Kenyan and South African threat landscapes have been more intense. In South Africa, there were almost 10 million malware attacks and a staggering 43 million PUA detections.
Kenyan users faced even more malware attacks – around 14 million, and 41 million PUA appearances, Kaspersky said.
Tech Giants Strike Deal with Advertisers over Hate Speech
Web giants including Facebook have struck a deal with advertisers on how to identify harmful content such as hate speech, after an impasse over the issue which led to boycotts of the platform.
The agreement — which also included Twitter and YouTube — laid out for the first time a common set of definitions for hateful statements online.
In July, hundreds of advertisers including big-name consumer brands suspended advertising with Facebook as part of the #StopHateForProfit campaign, saying the social-media titan should do more to stamp out hatred and misinformation on its platform.
And earlier this month a group of celebrities — including Kim Kardashian, Leonardo DiCaprio and Katy Perry — stopped using Facebook and Instagram for 24 hours, to push a similar message.
The World Federation of Advertisers (WFA) said in a statement Wednesday: “Facebook, YouTube and Twitter, in collaboration with marketers and agencies through the Global Alliance for Responsible Media have agreed to adopt a common set of definitions for hate speech and other harmful content and to collaborate with a view to monitoring industry efforts to improve in this critical area.”
The alliance was founded by the WFA and includes other major trade bodies.
According to the WFA, key areas of agreement included applying the alliance’s common definitions of harmful content; developing reporting standards for such content; establishing independent oversight; and rolling out tools for keeping advertisements away from harmful content.
The WFA said that properly defining online hate speech would remove the current problem of different platforms using their own definitions, which it said made it difficult for companies to decide where to put their ads.
“As funders of the online ecosystem, advertisers have a critical role to play in driving positive change and we are pleased to have reached agreement with the platforms on an action plan and timeline in order to make the necessary improvements,” said Stephan Loerke, chief executive of the WFA.
Luis Di Como, executive vice-president of global media at Unilever, a major advertiser, sounded a note of cautious optimism.
He said: “The issues within the online ecosystem are complicated, and whilst change doesn’t happen overnight, today marks an important step in the right direction.”
Speaking in July, Facebook’s founder and chief executive Mark Zuckerberg said he remained adamant that the company did not want hate speech on the social network.
On Wednesday, the company’s vice-president for global marketing solutions, Carolyn Everson, said the agreement gave all parties “a unified language to move forward on the fight against hate online.”
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