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Mainstreet Bank Goes Live on Finacle v10

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Mainstreet Bank Limited, one of the leading commercial banks in Nigeria, has successfully deployed Infosys Finacle version 10.2.0.9 core banking application to drive the bank’s technology transformation, deliver superior customer service and help customers achieve their financial goals.

Finacle, a comprehensive, integrated, modular and agile business solution addressing all the core needs of banks, is being implemented and supported by Infosys and Computer Warehouse Group (CWG), Infosys sole Business Alliance Partner in Nigeria with offices in Nigeria, Ghana, Uganda, and Cameroon.

Finacle provides all the building blocks of business functionality, which will enable Mainstreet Bank users to configure products and processes flexibly to adapt to a dynamic environment.

With a 360 degree single source view into customer accounts, Mainstreet Bank will have the ability to empower customers with relevant information and deliver right fit, real-time services through the preferred usage channel.

Anogwi Anyanwu, executive director, Operations and IT Mainstreet Bank who spearheaded the Mainstreet Bank team in the implementation of the Finacle version 10, expressed optimism, that Finacle version 10 would improve the operations capacity of the bank.
 
He is positive that with the successful implementation of Finacle, Mainstreet Bank is now well positioned to provide world class services to its customers.

Also speaking on Finacle deployment, Faith Tuedor-Mathews, group managing director/chief executive officer, Mainstreet Bank Limited, said that “The new banking application will support the innovative products and services we want to launch into the market to delight our customers.

Finacle is a robust system that will also provide the platform upon which all our service touch points including alternative channels like ATMs, mobile and internet banking, collection services, and other e-banking media will operate with utmost efficiency.”

She added. “We have re-engineered our banking system and have achieved a new positioning which has seen us attract the best talents in the Nigerian Banking Industry. Our disciplined approach to investment and risk management has positioned us to deliver increased value to all our stakeholders,”

VenkatramanaGosavi, regional head, Growth Markets Infosys Finacle said  “It is an exciting opportunity for us to partner with Mainstreet Bank in their banking transformation agenda. We look forward to helping the bank deliver value oriented banking experience to its customers, while accelerating growth and roll-out of new products and services.  The successful implementation at Mainstreet Bank, along with CWG our local partner, reinforces Finacle’s position as the leading technology provider for banks in Nigeria.”
 
Mr. Femi Ibine, software Division Hhead of CWG, said “We are delighted to be a part of this success story and are strongly committed to ensuring that Mainstreet Bank, like all other Finacle customers in West Africa, enjoys the best support services from CWG’s 24×7 Support Hub located in Lagos, Nigeria”.

James Agada, chief technology officer, Computer Warehouse Group, who led the CWG team that worked on the Mainstreet project, expressed his gratitude to the various teams—CWG, Infosys and Mainstreet bank—for the teamwork and diligent professionalism they brought to the project, which contributed immensely to the excellent and timely delivery of the project.
“Considering the technology value embedded in Finacle 10, it is certain that Mainstreet Bank will deliver value to their customers” He says.
Austin Okere, founder and chief executive officer, Computer Warehouse Group was delighted about this new development in Mainstreet Bank and believes it will result in improved customer service for Mainstreet Bank, and enable the bank to excel and compete with leading brands in the industry

Okere, who is passionate about enabling businesses with cutting-edge technology, congratulated Tuedor-Mathews and the management of the bank for taking the right decision to deploy Finacle version 10 Core banking applications.
 
According to Austin, “It is not enough to know the appropriate technology to run a bank you must be determined to acquire and use the best.”
 
Infosys and CWG have implemented the Finacle core banking software for about 55% of the banks in Nigeria, including FBN, UBA, Stanbic Bank, FCMB and Fidelity bank among others.


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E-Business

Naija Shopping Festival: Konga Offers Unbeatable Christmas Deals

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Nigeria’s leading e-commerce platform, Konga, has unveiled the Naija Shopping Festival, a Christmas sales event designed to offer shoppers extraordinary discounts and unbeatable deals.

This exciting shopping extravaganza begins on December 1 and runs through December 30, promising an unforgettable experience for all.

With discounts of up to 70% off on your favourite products, the Naija Shopping Festival is Konga’s way of spreading festive cheer and ensuring no one misses out on amazing deals.

This event caters especially to those who could not participate in Konga Yakata, giving everyone a chance to save big this holiday season.

The festival boasts a wide array of incredible offers across multiple categories, including mobile phones, electronics, FMCG, fashion, groceries, and accessories.

Shoppers can also enjoy specially curated deals such as Christmas Eve Deals, Flash Sales, Santa Shop, and Hamper Packs, ensuring there’s something for everyone this festive period.

Konga is partnering with top global brands such as Apple, Starlink, HP, Zinox, CeraVe, Lenovo, Haier Thermocool, Samsung, and Infinix to deliver the best possible deals. Customers can expect discounts of up to 70% on premium products, ensuring maximum value on every purchase.

Speaking on the launch, Onochie Melvin, E-commerce Manager at Konga, stated, “The Naija Shopping Festival is our way of giving back to our customers and making this Christmas season special for every Nigerian.

“We remain committed to easing the financial burden on Nigerian consumers, especially during challenging economic times. Also, we want to ensure shopping is fun, affordable, and stress-free. With our trusted partners, we’ve curated the best deals to meet the needs of every shopper during this festive period.”

As always, Konga is committed to making shopping easy and convenient for Nigerians.

“By offering substantial price cuts and collaborating with trusted brands, Konga continues to set the standard for e-commerce in Nigeria.

To have a feel of Konga’s Naija Shopping Festival, visit www.konga.com today and make your Christmas shopping a joyful experience.

 


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TD Africa Joins Forces with Check Point to Enhance Cybersecurity in Nigeria

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TD Africa, a leading technology distributor in Sub-Saharan Africa, has joined forces with Check Point Software Technologies Ltd., a global cybersecurity leader, to enhance Nigeria’s cybersecurity resilience.

This strategic partnership, announced at a partner roundtable event in Lagos and attended by industry executives, stakeholders, and IT professionals, facilitated discussions on emerging cybersecurity trends and fostered strategic partnerships.

Participants explored innovative approaches to digital security, concluding with a networking session designed to spark future collaborations and strengthen Nigeria’s digital ecosystem.

Abiodun Idowu, Assistant General Manager for TD Africa, highlighted the company’s dedication to delivering cutting-edge technology solutions, saying: “This partnership with Check Point reflects our commitment to providing advanced tools that safeguard businesses against today’s complex cyber threats.”

Check Point’s Security Manager, Victor Ugwu, who underscored the partnership’s significance in strengthening cybersecurity frameworks in Nigeria, said, “With this collaboration with TD Africa, we aim to deploy innovative solutions like Harmony and CloudGuard to protect organizations across the country.”

TD Africa now offers Check Point’s Harmony and Email Collaboration solutions, incorporating Secure Access Service Edge (SASE) technology to enable secure connectivity for remote and hybrid work environments.

Additionally, the partnership provides CloudGuard, an end-to-end cloud security solution, and Quantum Firewall appliances, which scale to meet the needs of businesses of all sizes.

This partnership reinforces TD Africa’s position as a driving force in Nigeria’s technological advancement. By delivering robust cybersecurity solutions, TD Africa empowers businesses to navigate the digital age with confidence and resilience.


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Kaspersky Contributes to Joint INTERPOL-AFRIPOL Operation Combating Cybercrime Across Africa

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Kaspersky has recently assisted its partner law enforcement agencies INTERPOL and AFRIPOL in a joint effort to disrupt cybercrime across the African region.

Dubbed “Serengeti,” the operation has led to the arrest of more than 1,000 individuals suspected of links to cybercrimes such as ransomware operation and business email compromise (BEC) attacks, resulting in nearly US $193 million in financial losses worldwide.

As Africa is going through a rapid digitisation, the threat of cybercrime on the continent is also escalating. In the African region in general and West Africa in particular, ransomware emerges as one of the most prominent attack vectors, targeting critical infrastructure, financial institutions, and manufacturing facilities, among others.

During the first 10 months of 2024, ransomware detections in West Africa surged by 36% year-on-year, according to Kaspersky data. Other noticeable cyberthreats targeting users and organisations in the region include spyware and password stealers.

Conducted from September 2 to October 31, operation Serengeti dismantled 134,089 malicious infrastructures and networks linked to cybercrimes including ransomware operations, BEC attacks, digital extortion and online scams — all identified as prominent threats in INTERPOL’s 2024 Africa Cyber Threat Assessment Report.

Kaspersky has contributed to the operation by sharing information on threat actors, data on ransomware attacks and malware targeting the region, as well as up-to-date indicators of compromise (IoCs) for malicious infrastructure across Africa.

Among the malware targeting African countries was also a well-known Brazilian banking trojan Grandoreiro – Kaspersky recently released new findings on this trojan at its Security Analyst Summit. Additionally, ransomware families detected in attacks on African organisations among others included LockBit, Rhysida, and Medusa.

The operation has also resulted in the identification of more than 35,000 victims of cyber offenses investigated.

Valdecy Urquiza, Secretary General of INTERPOL, said: “From multi-level marketing scams to credit card fraud on an industrial scale, the increasing volume and sophistication of cybercrime attacks is of serious concern.

Operation Serengeti shows what we can achieve by working together, and these arrests alone will save countless potential future victims from real personal and financial pain. We know that this is just the tip of the iceberg, which is why we will continue targeting these criminal groups worldwide.”

Ambassador Jalel Chelba, AFRIPOL’s Acting Executive Director said: “Through Serengeti, AFRIPOL has significantly enhanced support for law enforcement in African Union Member States. We’ve facilitated key arrests and deepened insights into cybercrime trends. Our focus now includes emerging threats like AI-driven malware and advanced attack techniques.”

“We are proud to contribute to this multi-stakeholder operation orchestrated by INTERPOL and AFRIPOL,” comments Yuliya Shlychkova, Vice President, Global Public Affairs, Kaspersky. “The emerging dynamics of the threat landscape in Africa requires a stronger regional dialogue on mitigating acute cybersecurity risks.

Kaspersky firmly supports INTERPOL’s and AFRIPOL’s efforts to prevent and disrupt cybercrime attacks across Africa and shares the holistic approach towards creating a more cyber-resilient environment within the continent.”

Thanks to the cooperation with INTERPOL and AFRIPOL, Kaspersky has been an active contributor to fostering a more cyber-savvy environment in the African region.

In addition to the vast record of joint operations in Africa, with the latest being INTERPOL-led operation Synergia II, Kaspersky has recently sealed a five-year cooperation agreement with AFRIPOL to further strengthen its role in creating a more cybersafe climate on the continent by sharing Kaspersky’s extensive data on local cyberthreats and cybercrime trends with the organisation.


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