Software Manufacturer Addresses Customer On-boarding, Fraud in Financial Services

0
Simon Melchior

Asseco Nigeria a software company and a subsidiary of the Asseco Group last week organised Finance Innovation Summit, where it addressed customer on-boarding opportunities and electronic banking fraud prevention with cutting edge technologies.

In his welcome address, the Chief Executive Officer, Asseco Nigeria, Simon Melchior, highlighted the importance of innovation in finance, given the increased threat from new entrants.

Sharing insight into the Asseco Group and its activities in Nigeria, he told the audience that “The Asseco Group has grown rapidly through the past decade and is now in over 50 countries with 24,000 employees.

“The company has invested significantly in Nigeria, where we have a full team of technical consultants, developers and business managers. We have an extensive client base in Nigeria including a number of the top banks, insurance companies and public sector institutions,” he said.

Managing Director of Asseco Nigeria, Adefolu Majekodunmi, while presenting the growing trends in digital banking, explained that Asseco Nigeria was focused on supporting financial institutions with cutting edge technology during this period of disruption in the banking sector.

He highlighted the growth in “neo banks” and “flanker banks” and how these have begun to challenge well established banks around the world.

Also speaking at the summit, Enterprise Director of Microsoft Nigeria, Wale Olokodana, described the development in Machine Learning (ML) and Artificial Intelligence (AI) in banking. He was followed by a number of international technology leaders that provided demonstrations on digital on-boarding solutions using artificial intelligence, risk management solutions to curb the growing menace of electronic banking fraud in Nigeria and customer satisfaction 2.0 applications.

The digital banking view from a bank was provided by Abidemi Asunmo of Sterling Bank. She detailed the culture of innovation at Sterling Bank and shared insight into the mutually beneficial working relationship with Asseco. At the well attended summit, Tunde Ogunleye of Oracle presented a brief presentation on how best to address data protection regulations.