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May 06, 2009

Infotechnology Chooses Clickatell for Text-Banking in Nigeria

Clickatell has been chosen by Infotechnology Solutions to offer interactive text alerts to banking customers in Nigeria.

The company says that Pyramid Research that has identified Nigeria as the largest and fastest growing market on the African continent. The country reportedly has more than 61 million of the 4 billion global GSM lines.
This alliance ensures that customers receive real time SMS alerts with every transaction, and thus have immediate knowledge of account movement on their cards. Customers can immediately respond to alerts on transactions considered fraudulent by using Infotechnology’s new solution, MoneyGuard.
While it may take up to 15 days to block a card, MoneyGuard powered by Clickatell (News - Alert) SMS, ensures that it is done in minutes.
Moneyguard has already proven to be successful in countries such as Hungary where card fraud has been reduced to .22 percent, one of the lowest rates in the world.
As banking customers automatically receive text alerts on transactions, they can determine immediately if the transaction was authorized by the account holder, said Abiodun Adesina, chief executive officer of Tripplea Group, Inc, Infotechnology’s holding company.  
If somebody is trying to break into an account, customers can immediately respond by sending an SMS to stop the payment. He is confident that this technology will greatly reduce fraud by combining the freedom of mobile phones and the immediacy of text messaging.
Adesina pointed out that Clickatell has an established track record among the strongest global financial companies, and is highly recommended by financial and mobile experts from around the world.
“With the ability to send more than 15 million messages per month, our banking customers are pleased with the speed and quality of this innovative real-time solution during the pilot recently concluded by several banks in the country,” Adesina said.

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Anuradha Shukla is a contributing editor for TMCnet. To read more of Anuradha’s article, please visit her columnist page.

Edited by Michael Dinan


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