FirstBank signs fraud prevention agreement with Clydestone

In its bid to ensure safety of customer deposits and security in Internet banking, First Bank of Nigeria Limited has signed a G-secure Authentication Platform agreement with Clydestone Nigeria Limited to drive second level authentication on Card-Not-Present transactions.

This initiative is in line with global practices and also compliant with the mandate of the Central Bank of Nigeria (CBN) that all banks should ensure integration of payer authentication is guaranteed on a 3-D secure platform.

According to FirstBank’s spokesperson, Mrs. Folake Ani-Mumuney the agreement has further improved the Bank’s fraud prevention platform with robust security protocols and enables customers enjoy secure, convenient and reliable online shopping.

Ani-Mumuney said the Bank remains resolute in its quest for continuous investment in Information Technology to deliver innovative products and ensure protection of customer funds across FirstBank’s service platforms. “With this development, our web merchants can easily validate shoppers on their websites to ensure that the shopper is the true cardholder performing the transaction. As regulators and operators continue to guard against cybercrimes in the sector, this is another demonstration of our commitment to providing the best possible financial services and security to over 7 million FirstBank customers across the globe,” she added.

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