Digital transformation is changing buying habits. Transactions are becoming increasingly important on the Internet. In Africa, the value of e-commerce could reach $75 billion yearly over the next decade. Transaction volumes are increasing significantly, and with them, fraud and litigation. Banks and e-merchants are the first to be affected by this daily challenge.
With a presence in 10 countries, BGFI Bank wanted to strengthen security of its electronic transactions. It aspired to offer more trust to its customers and contribute to the emergence of a more modern and more efficient payment ecosystem.
The omnichannel MX ACS™ solution offers both a flexible enrolment process and various authentication methods (OTP, token, biometrics, digital certificate, etc.) adapted to the needs of the bank’s customers. It includes 3D-Secure strong authentication solution based on two factors:
1/ Cardholder’s authentication by the payment card.
2/ Additional protection through a security code to be entered by the cardholder.
For BGFI Bank and its subsidiaries, the implementation of MX ACS™:
1/ Improves service quality offered to individual customers, institutions, private actors and investors.
2/ Builds confidence in the markets and with the different public where the bank operates.
3/ Increases online transaction volumes, creating value for BGFI Group and the countries where it operates.
4/ Promotes a more modern and efficient payment ecosystem.