According to bank’s representatives, National Bank of Malawi has looked for a solution that continuously audits all banking systems, and particularly mitigate risks related to data migration, back end changes, and rogue administrators.
FraudGuardian offers the bank “a robust fraud risk mitigation” that is designed specifically for efficient integration into the bank’s core system. The bank uses Temenos’ T24 for its core processing, as the Swiss vendor is Temenos’ long-standing partner.
FraudGuardian is based on NG|Screener, NetGuardians’ behavioural analysis software. “With big data to correlate human behaviour and financial transactions across entire banking system, it can identify potential fraud before it happens,” the vendor states. “It tracks and audits all activities continuously, in real time, and instantly alerts risk managers to any deviations.”
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now