Internet bank: FirstBank Selects Clydestone’s G-secure authentication

First Bank of Nigeria Plc has selected Clydestone’s G-secure authentication platform to drive its second level authentication on Card-Not-Present transactions for customers in order to prevent fraud, especially on Internet banking.

Spokesperson for FirstBank, Mrs. Folake Ani-Mumuney, confirmed to DigitalSENSE Business News that the initiative, which is in line with global best practices is compliant with the mandate of the Central Bank of Nigeria (CBN), which stipulated that all banks should ensure integration of payer authentication is guaranteed on a 3D secure platform.

She noted the selection of G-secure authentication platform was to further improve the bank’s fraud prevention platform with robust security protocols, which enables customers to 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 the bank’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.

Chairman, Clydestone Nigeria, Mr. Ladi Williams, said that the “signing of the agreement by its wholly owned subsidiary Clydestone Nigeria with FirstBank signifies that the G-secure Authentication Platform for issuers, acquirers and merchants is a robust and scalable platform that meets the authentication requirements of banks globally.”

Also, he pointed out that the platform offers issuer and payer authentication verified by Visa, MasterCard SecureCode, American Express Safekey, Diners ProtectBuy and JCB J/Secure. Additionally the G-secure Authentication Platform offers UPOP (Union Pay Online) as well as PayPal Alipay, Amazon Payments and 30 plus alternative payment brands, to name a few.

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