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Unity Bank Wins CBN/NIBSS’s “Most Extensive Fraud Channel Coverage” Efficiency Award
Unity Bank Plc has won the Efficiency Award as the financial service brand with the “Most Extensive Fraud Channel Coverage” at the 4th Electronic Payments Incentive Scheme (EPIS) Efficiency Award 2019 powered by Central Bank of Nigeria (CBN) and Nigerian Inter-Bank Settlement System (NIBSS).
The Bank won the award in recognition its outstanding compliance in fraud and cyber crime reporting and for being the financial institution with the most fraud channel coverage on the Central Antifraud System in 2018.
The CBN has a central Antifraud Channel which monitors the number of fraud cases and the percentage of such cases reported. Not only was Unity Bank rated as the Bank that is most compliant in fraud reporting, the Bank was also acknowledged for deploying efficient tools for monitoring fraud across all her electronic channels.
At the just concluded EPIS Award, Unity Bank was commended for promoting e-payment system and fraud prevention initiative in a manner that boost market confidence on CBN’s cashless policy.
Receiving the Award, the Head of E-business, Unity Bank Plc, Oluremi Tinuolu-Gabriel, commended EPIS, NIBSS and CBN for the award of recognition for the Bank which he noted as being special and remarkable. He added that “this honour is being received in a category where the Management of the Bank has been very passionate not only with compliance directives but also to support with constant ICT infrastructural upgrade as well as effective information and cyber security practice to deliver optimum performance”.
For the Bank, the award is a motivation to all end users of e-payment channels who have kept faith in this journey to sustaining the cashless initiative. As a Bank, the award also inspires us to continually raise the bar of all compliance standards in fraud reporting.
Unity Bank has before this time developed and deployed comprehensive suite of e-products whilst subscribing to collaborative initiative to ensure effective, efficient and secured network for the sustainability of its e-payment systems.
In the Q4’2018, Unity Bank also won two outstanding awards of excellence; namely, the CBN’s Award as the ‘Sustainable Transaction of the Year in Agriculture’ and Presidential Award in recognition of the Bank’s participation in Anchor Borrowers Programme.