Industry Collaboration Crucial to Combat Fraud in Payment Sector
Dennis Ajalie, CEO of TeamApt Limited, underscores the necessity for industry collaboration to combat fraud in the payment sector. Speaking at the CeBIH conference in Lagos, he emphasised that seamless information sharing among fintechs, banks, and telecoms could deter fraudulent activities. The Central Bank of Nigeria outlines roles for creating a secure payment ecosystem (source).
Ajalie also highlighted the importance of borderless transactions, stressing that current siloed systems hinder progress. He advocated for interconnected systems and reconciliation as steps toward enabling cross-border transactions. The key takeaway is that a unified front is essential for future growth in payments.
CALL TO ACTION: What measures can be implemented to enhance industry collaboration against payment fraud? Join the conversation below!
