<\/p>\n
CWG, a leading information technology company, and its key strategic partner, Clari5, a provider of enterprise financial crime risk management solutions, have reaffirmed their commitment to providing solutions that will aid in the fight against fraudulent activities in financial and other institutions.<\/p>\n
The two institutions are leading the charge in the introduction of new technologies and procedures to help organizations identify fraudulent transactions while preventing employee fraud.<\/p>\n
Managing Director of CWG Ghana, Harriet Attram Yartey said it has become necessary for banks to maintain a high level of security in order to maintain their market positions, and for that purpose, the partnership with Clari5 has come in handy to help achieve the said objective.<\/p>\n
\u201cOver the past few years, the fraud and money laundering landscape has grown alarmingly complex, and it is obvious that banks are looking for more effective ways to stop the plague but with Clari5, banks now have the power of a world-class enterprise-wide real-time financial crime management solution that has been changing the way banks fight financial crime,\u201d she said.<\/p>\n
She further urged banks to invest more in technology to generate more revenue and also keep up with emerging trends and connect with major global financial institutions.<\/p>\n
\u201cI believe banks and financial institutions could innovate more than what they are currently doing in terms of deploying systems and, we also need to stop seeing technology deployment as cost. This is because technology is implemented to solve problems within the organization and whilst those problems are being solved, it creates opportunities for the various business departments to leverage to drive more revenue into the banks and the financial institutions,\u201d she added.<\/p>\n
Chief Executive Officer for Clari5, Rivi Varghese said as part of measures taken to curbing the threat, a new customized product modeled after a centralized brain system has been created to help organizations monitor and track down fraudulent activities.<\/p>\n
\u201cWith over 200 million accounts at a single site, Clari5 has the world\u2019s largest implementation of a centralized fraud management. In a bank, the credit card department has its own security solution and so has the internet banking department and so on, essentially all operating in silos. Because a centralized system is lacking, you have this problem for instance of an insider who will log into a high net worth account and check a customer\u2019s balance through the core banking application, send the information to an outside accomplice who will log into the same high net worth account from the internet banking application and siphon funds, without the bank knowing that both seemingly independent actions are linked. We have developed what we call the centralized brain that can help organizations identify these illegal activities,\u201d he said.<\/p>\n
He explained that Clari5 does not design products and dump it on banks but rather design tailor-made products depending on the focus and aspiration of the bank and its customers.<\/p>\n
\u201cEvery human being has a soul, and banks capture customers\u2019 souls. In fighting banking fraud, some banks take a silo approach or what I call a piecemeal approach. You can prevent some basic frauds using a silo approach but when it comes to complex fraud, you need an integrated approach,\u201d he added.<\/p>\n
Head of Project Management and Corporate Development at CWG Ghana, Oluwaseun Layade on his part reiterated CWG\u2019s goal of continually contributing to the Information and Communication Technology sector by consistently delivering service excellence using global best practices. \u201cOur business spans multiple markets, including telecommunications, oil and gas, financial services, and manufacturing, among others, and our long-term goal is to remain Africa\u2019s benchmark for ICT excellence,\u201d he said.<\/p>\n
He stated that the core of CWG\u2019s philosophy is to use a customer-centric approach to create the best experience for its customers.<\/p>\n
\u201cWe are a business solutions provider, not just an IT provider. We look at business problems and use IT to solve them so that these businesses can grow. It is mostly about our customers, not about us. Be it any kind of business, whether it is a bank, insurance company, hotel, manufacturing company, or any other organization; they are there to serve other people, and we are here to assist these organizations in serving their customers, so even as a pan-African company, we are a multidisciplinary organization,\u201d he said.<\/p>\n
Africa Regional Head for Clari5, Rishin Roy Chowdhury, urged management executives to be mindful of the banking methods they use in carrying out activities, emphasizing that organizations should best observe their customers to find the best method needed to carry out activities, which would also help prevent internal fraudulent crimes.<\/p>\n
Contacts<\/strong><\/p>\n CWG Ghana Limited<\/strong><\/p>\n Address: B2A\/2 Agostino Neto Close, Opposite Cocoshie Building, Off Agostino Neto Road-Airport Residential Area-Accra<\/p>\n Phone number: +233-302-772793, +233 244310346<\/p>\n Website: www.cwg-plc.com\u00a0<\/u><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" CWG, a leading information technology company, and its key strategic partner, Clari5, a provider of enterprise financial crime risk management solutions, have reaffirmed their commitment to providing solutions that will aid in the fight against fraudulent activities in financial and other institutions. The two institutions are leading the charge in the introduction of new technologies […]<\/p>\n","protected":false},"author":1,"featured_media":1181204,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[1274,22785,4980,5951,22786,5504,85,12901,115],"class_list":["post-1181202","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-banks","tag-clari5","tag-combat","tag-commitment","tag-cwg","tag-fraud","tag-ghana","tag-reaffirm","tag-support"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1181202","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1181202"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1181202\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1181202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1181202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1181202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}