Data analytics expert Neural Technologies has won a prestigious GTB Telecoms Innovation Award for its work with Safaricom’s MPESA system in Africa.
Safaricom and Neural Technologies worked closely to support Safaricom’s fraud and risk initiatives with their powerful, future-proofed anti-fraud system. In 2014, the two companies embarked on a focused initiative to expand the company’s existing fraud monitoring with utilisation of the Anti-Money Laundering capabilities of the solution. This was driven by more rigorous global regulation and Safaricom’s desire to uncover groups utilising the platform for funding terrorism and organised crime. The judges were impressed with the companies’ commitment to combatting global fraud and terrorism.
Safaricom’s Head of RA Patrick Kinoti, commented: “This project exceeded our expectations and I am pleased to have won this global award. Since its implementation, we have undertaken a number of investigations and closed down fraud and money laundering rings, and passed details of suspected criminals onto the authorities. It is both impressive and game-changing within the industry.”
Luke Taylor, COO and Deputy CEO of Neural commented: “Operators in Africa are under more pressure than ever to identify and report potential criminal activity, and it is great to be working with a company that takes these issues seriously. The need to tackle fraud as well as comply with international money laundering regulations is critical to Safaricom’s business. We are honoured to be supporting them as they go from strength to strength, aiding the crack down on criminal activity such as poaching and terrorism. I feel justifiably proud to have won this prestigious award for our partners Safaricom.”
The award was presented at the Global Telecoms Business Summit in London, last night. The GTB summits are designed to provide valuable opportunities for extensive high-level networking, showcase insightful conference sessions and are effective forums to conduct business.
For more information on Minotaur and Neural Technologies, please visit www.neuralt.com.