By PETER EGWUATU

In its bid to prevent fraud and cyber threats,United Bank for Africa (UBA) Plc, has commissioned a security operations centre and forensic laboratory that provides a complete monitoring of all electronic banking transactions.

Speaking at the commissioning of the centre, Group Managing Director/CEO, UBA Plc, Mr. Phillips Oduoza said “UBA took a major step to secure all electronic banking transactions in the bank and protect its customers against cyber crimes and other forms of e-banking threats not minding the huge cost involved.

This is the first of its kinds in the country and sub-Saharan Africa as UBA, being a leading bank in the deployment of electronic banking channels, made a deliberate decision to invest in a robust information security infrastructure, processes and skilled personnel as an effective way to manage information security threats. He stated that that any serious banking institution that wants to succeed in this digital age cannot afford to ignore information security as any major compromise of bank’s system and network has potentials for colossal damage.

According to him, “We partnered with top information security organisation that worked with the bank to upgrade our information security infrastructure in Nigeria and 18 African countries where we have presence.”