Press release : Premium Bank selects NetGuardians for a solid start

Press Release


Fraud prevention is founding strategy for the Ghanaian bank


Yverdon-les-Bains, 14 June 2017 – Ghana-based Premium Bank has selected NetGuardians’ proven anti-fraud solution - FraudGuardian - to support the bank’s growth in the Ghanaian market.

Based in Switzerland, NetGuardians is known internationally for its unique, robust Fintech solutions for risk mitigation. FraudGuardian uses a patented Big Data model to correlate and analyze human behaviors across the entire bank system including eBanking, service channels, IT systems and financial transactions. Its advanced behavioral analytics capabilities enable banks to prevent fraud in a proactive manner.

 Formerly known as City Investment Company (CIC), Premium Bank received regulatory approval to begin operating as a bank in 2016. They have specialized experience working with small and medium enterprises (SMEs). “Our clients count on us for financial services that are vital to their businesses; their security is our number one priority. FraudGuardian will watch over the Bank’s employees and customer activities, enabling our risk personnel to prevent fraud before it happens,” explains Premium Bank CIO, Emmanuel Annoh. “We were impressed by how intuitive and user-friendly FraudGuardian is and found that its additional modules can support the bank as we continue to expand our digital channels.”

Mr. Annoh adds that NetGuardians’ intelligence updates and existing customers in Ghana and rest of the world will also benefit Premium Bank. “We know that fraudsters continuously evolve their attacks, therefore we needed a solution that would protect our customers in future, not just today. The Bank will become part of the NetGuardians community, where we will gain access to knowledge on emerging fraud patterns and a continuously updated controls library, enabling us to stay ahead of the fraudsters.”

Integration of the solution into Premium Bank’s Temenos Core Banking Platform was straightforward as NetGuardians has been a Temenos Complementary Solution Provider since 2015. Additionally, Premium Bank will enjoy support from Global Solutions, NetGuardians’ local partner. “NetGuardians solutions are highly-reputed and integrated throughout West Africa. They offer the quality that Global Solutions insists on,” says Dzifa Abodakpi, Country Manager of Global Solutions, a company dedicated to offering differentiated IT-enabled solutions. “We are honoured to play a role in supporting Premium Bank with a proven fraud mitigation solution as they launch their banking operations.”

NetGuardians is very pleased to welcome this new bank to the NetGuardians community. “We find it particularly satisfying to be working with Premium Bank right from the start,” says NetGuardians CEO Joël Winteregg. “This says to us that they – like us – consider fighting fraud a central piece of providing excellent customer service in the financial services industry.”