Unity Bank Plc has been named “Most Extensive Fraud Channel Coverage” at the Electronic Payments Incentive Scheme (EPIS) fourth Efficiency Award 2019 held in Lagos at the weekend. The award was organized by the 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 cybercrime 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 anti-fraud 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.
The CBN and NIBSS praised the bank 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.