FirstBank Leads War Against Fraud, Wins Global Cybersecurity Award

The managing manager and main enforcement serviceman of FirstBank, Dr. Segun Alebiosu, has disclosed that the slope prioritises concern successful fraud absorption and user extortion to warrant lawsuit assurance successful the banking sector.

Alebiosu, who spoke during an interrogation with journalists connected the sidelines of the Nigerian Economic Society (NES) Annual Conference successful Abuja connected Tuesday, said fraud erodes spot and threatens the gains of Nigeria’s integer fiscal inclusion drive.

He explained that portion the surge successful integer outgo systems is transformative, it has opened caller avenues for fraud, particularly among agrarian dwellers with constricted integer literacy. “The astir pressing contented contiguous is fraud. With the digitalisation of outgo systems, each time you perceive astir fraud. Rural dwellers are the astir affected due to the fact that they don’t afloat recognize however to usage integer platforms,” helium said.
Despite these challenges, Alebiosu stressed that FirstBank is starring efforts to fortify the assemblage done innovation and user protection. He disclosed that the slope chairs the Bankers’ Subcommittee connected Fraud and has invested heavy successful cutting-edge cybersecurity systems.

“People bash cognize that FirstBank is harmless and secure. Today, we relationship for astir 20 per cent of payments processed done the Nigeria Inter-Bank Settlement System (NIBSS). That is simply a testament to our ratio and innovation,” helium stated.

To further support customers, Alebiosu said the slope has a Chief Customer Experience Officer and robust ailment absorption structures to guarantee swift redress. He added: “We put a batch successful fraud absorption and user extortion because, ultimately, lawsuit assurance is astatine the bosom of banking. While immoderate complaints originate from lawsuit errors, we instrumentality work arsenic a slope to safeguard spot successful the system.”

Underscoring its committedness to robust security, Alebiosu revealed that FirstBank precocious clinched an planetary grant for excellence successful cybersecurity astatine the 17th Annual Congress connected Cybersecurity Audit and Controversial Events held successful Abu Dhabi.

“This designation reaffirms our relation arsenic a forward-looking institution, committed not lone to driving innovation but besides to ensuring the information and information of our customers,” helium said.

He besides identified Nigeria’s challenging macroeconomic clime arsenic different large obstacle facing the banking industry. “Harsh economical conditions are straight affecting businesses, and by extension, banks,” helium explained.