Africa Banking Network

An Africa Business Community

GTBank Re-affirms Commitment to Secure Banking

Foremost Nigerian financial institution, Guaranty Trust Bank plc has re-affirmed its commitment to the safety of stakeholder funds as it prepares for the 2013 financial year. Investigations show the Bank has installed several new technologies and introduced a number of internal procedures that enable it identify spurious transactions and prevent frauds on customer accounts.

Speaking on the development, Managing Director/CEO of Guaranty Trust Bank; Mr. Segun Agbaje said the Bank was committed to ensure its customers are shielded from the escalating incidence of online and other forms of fraud being experienced within the industry.

Mr. Agbaje said ‘we have introduced several new processes internally, which I cannot disclose that make it more difficult for fraudsters to have access to our customer accounts. Additionally we have a mutually beneficial relationship with law enforcement agencies, such as the Nigerian Police Force that enable us identify potential fraudsters and apprehend them before they act’.

He concluded by saying the constant review of the Bank’s security infrastructure and processes were pivotal to its recent success in discovering frauds and foiling attempts, that could have translated to huge losses for the Bank. These include a recent attempt by some unscrupulous individuals to defraud a customer of a large amount of money. The situation has been contained and the individuals concerned are presently aiding the police with their investigations. Sources from the Bank confirmed the matter is being dealt with and the Bank is leaving no stone unturned in dealing with development.

Guaranty Trust Bank has always been committed to the safety of stakeholders’ funds. A few years ago it installed a whistle blower platform to help mitigate against instances of fraud whilst resolving customer service related issues. The channel enables customers, staff and other stakeholders of the Bank report unethical or unprofessional conduct by its employees without revealing the complainant’s identity. The GTBank Whistle Blower is a very secure platform that is hosted on the Bank’s website for easy access.

More recently, the Bank deployed a security software on its Internet Banking platform called Trusteer Rapport. The software protects customer accounts from fraudsters by securing online communications with the Bank’s website/internet banking portal.

Guaranty Trust Bank plc. has a Payment Card Industry Data Security Standard (PCIDSS) certification attesting to the safety of its card and online channels and the Standards Organization of Nigeria (SON)’s International Standards Organization (ISO) 9001:2000 certification in recognition of quality management systems and conformity with global best practice.

Authorities at the Bank have stated that it remains ardently committed to proper practices and preventive mechanisms that safeguard the accounts, lives and properties of its stakeholders. The Bank intends to continue strengthening its security processes at all touchpoints, whilst promoting its value system, which is hinged on international best practice, professionalism, ethics, integrity and superior customer service.
Follow us on Twitter!

Views: 38


You need to be a member of Africa Banking Network to add comments!

Join Africa Banking Network

Africa Business Panel | B2B Market Research

As a valued LinkedIn group member, we invite you to join a prestigious online community.

The Africa Business Panel is open exclusively to business men and women engaged in business on the African continent.


As a participant in the African Business Panel, you will benefit in several ways and at the same time, you will have no obligations whatsoever. You will decide if and when you want to participate. However, the more you participate in surveys, the better your chances of benefiting from your membership.

Click here to join now



© 2022   Created by Bas Vlugt.   Powered by

Badges  |  Report an Issue  |  Terms of Service