AFB

AFB

Helping AFB to implement a fully managed lending solution, increase security and reduce financial loss resulting from fraudulent claims against their credit cards.

Who

AFB is a consumer finance company providing retail credit cards to over 15,000 customers across Africa. Liquid Telecom Payments implemented an end-to-end Managed Service Solution and helped significantly reduce fraud with the use of Biometrics.

The Challenge

AFB provides own-brand and co-branded closed loop credit cards. After the successful integration of our Managed Service Solution into their lending system, we were able to detect two types of fraud; application fraud, where end-users applied for multiple accounts using fake identities; and transaction fraud, where customers repudiate transactions on their cards. Both were resulting in significant financial loss for AFB.

The Solution

Our end-to-end managed solution includes high-speed international connectivity, transaction processing, routing, switching and professional services – as well as customised terminal applications and management software. A biometric solution was then implemented using biometric readers and server to enrol, store, match and verify data. Fingerprints are now a requirement for AFB card applications and transactions, reducing fraudulent applications and repudiated purchases.

Testimonial

“We think that Liquid Telecom Payments has developed the best biometric system available in Africa today and our business saw immediate benefits once the system went live”.
Karl Westvig
CEO, AFB

Econet Wireless Zimbabwe

Econet Wireless Zimbabwe

Helping to bring Africa's leading mobile money payment platform, Ecocash, to the world.

Summary

EcoCash is an innovative mobile payment solution that enables Econet customers to complete simple financial transactions. We helped launch Econet's new mobile money payment product by integrating the Ecocash platform with financial institutions and implementing over 10,000 POS terminals across Zimbabwe.

The Challenge

A long-standing wholesale customer of Liquid Telecom, Econet Wireless Zimbabwe provides telecommunications services and payment solutions. To ensure success of the new Ecocash product, they needed to open up the ecosystem by integrating their platform with financial institutions for transfer of funds between the end user, their Ecocash Wallets, banks and third party billers such as DSTV. POS terminals were also required to enable printing of customer and merchant receipts.

The Solution

We implemented a Postilion payments platform for payment switching, as well as HSMs (Hardware Security Modules) and Stratus fault-tolerant servers to ensure uptime. We developed Interfaces to financial institutions, the mobile money payment platform ‘Mobiquity' and third-party billers. And we supplied 10,000 POS terminals – as well as a customised terminal application and management system.

Testimonial

“Liquid's technical expertise, local understanding and previous experience integrating mobile money platforms with financial institutions meant there was simply no partner better placed to help us launch Ecocash. The resulting success has been phenomenal, with uptake by over 2.3m Zimbabweans in less than two years – over 30% of the country's adults.”
Econet Wireless Zimbabwe employer

The Sub Saharan Africa Region of a Large International Bank

Providing connectivity, hardware and software to replace the terminal estate and system across Sub Saharan Africa.

Summary

The terminal estate and offline transaction system used by the Sub Saharan Africa Region of this large bank was no longer strategically or financially viable. So a complete new solution was implemented by Liquid Telecom.

The Challenge

The existing terminal estate had limited functionality and was connected to systems not considered viable for upgrade. All transactions were offline and paper-based, presenting an increasing risk and higher interchange costs. The bank had to reduce Business As Usual operational and technical support, lower the cost and risk profile, and increase product reliability and quality. They also had to ensure future product development kept up with increasing competition and channel diversification.

The Solution

We provided a complete package covering transaction routing, switching and processing, a new terminal estate, applications and management software, as well as connectivity over our high-speed fibre network. This enabled online transactions, increased security and greatly reduced fraud risk and cost. Now, a customer can swipe a card in any of the 9 Sub Saharan countries and the transaction is carried over the Liquid network, authorised by the central switch and returned within seconds. The solution is secure, cost-effective and future-proof. And the new terminal estate offers product flexibility with functionality such as Host-to-Host Transaction Acquiring, Recurring Batch Transaction Processing and EMV.

“Our experience and expertise within the relevant African markets resulted in delivery excellence of an end-to-end solution that will be a benchmark for other global banks to follow”.

Norman Roberts-York
CEO, Liquid Telecom Payments