CWG Plc, a pan-African provider of information and communications technology, has announced a strategic partnership with Entersekt, a globally recognized innovator in mobile-first fintech solutions.
In line with its commitment to continuously offer cutting-edge technology solutions, CWG will provide Entersekt's full suite of mobile-centred security and payments enablement products to banks and other enterprises in Nigeria and beyond, either as a hosted solution or on-premises implementation.
Adewale Adeyipo, ED-VP Sales and Marketing at CWG said, "This is a major step towards ensuring that our customers can operate in conformity to relevant global practices and regulations by rolling out market-leading online and mobile experiences at competitive prices, without exposing their users to fraud."
CWG's rollout of Entersekt technology begins with Transakt, a sophisticated app-based mobile identity and authentication product.
Available as a software development kit or stand-alone mobile app, Transakt is used by tens of millions of smart phone users around the world to safely log into their online and mobile banking, verify payments and other sensitive transactions, and communicate privately with their service providers.
Users approve or reject in-app authentication prompts with one tap.
About 90 percent of Nigeria's 113 million strong mobile subscriber base use feature phones, which do not support apps, so user-initiated USSD banking and payments are extremely popular in the country.
To help banks secure this channel, CWG will offer Interakt, which counters man-in-the-middle and other fraudulent attacks through real-time SIM-swap checking and multi-factor transaction authentication.
CWG will work in tandem with local mobile VAS aggregators to enable Interakt at mobile networks in the region.
Mobile payments are exploding but responding quickly to technological developments and unpredictable changes in consumer preferences can be risky - and expensive.