FACCTUM, a UK-based risktech company specialising in watch list management and sanction screening services is set to bring its expertise to Nigeria as it prepares to hold a market entry business meeting with top echelons of the Nigerian financial, Fintech regulated business industries in Lagos.
The business breakfast meeting which is scheduled for May 31st 2023 in Lagos, will have the leadership of the UK-based firm present its offerings to the Nigerian market stakeholders.
FACCTUM is an effective financial crime risk management (FCRM) technology company that provides critical support for regulatory compliance. The company is a business enabler that greenlights opportunities. Over the years, FACCTUM has built solutions for agile, low-latency and highly effective risk decisioning, at massive scale. As a product-led SaaS organization, the company is able to address customer challenges promptly.
Watchlist management is a critical tool for banks and other financial institutions to protect themselves against the risks of financial crime. With increasingly sophisticated criminal techniques, it is more essential than ever to have a robust system in place to identify and prevent illicit activity and thereby improve operational efficiency in the business environment to save compliance cost.
Speaking on the upcoming event, the head of Financial Crime Risk Management Product Strategy, FACCTUM, Chrisol de Assis Correia said, “we are delighted to bring our products and services closer to the Nigerian financial and fintech industry. Recently, the country has experienced tremendous successes across the globe and this is the time to consolidate onthese gains by embracing risktech company and watchlist management.”
Chrisol Correia has extensive leadership experience in the risk technology and data industry. He has also supported financial institutions globally to transform fincrime control frameworks, improve compliance performance and increase operational effectiveness. Chrisol is a frequent conference speaker and features regularly as an expert in international media.
Also speaking about the event, Mr. Nicolas Willard, Director of Business Development at FACCTUM noted that, “We are excited to announce the launch of our new watchlist management solution company that will revolutionize the way financial institutions operate in the country. As a leading provider of financial crime watchlist management solutions, we are dedicated to helping our clients fight financial crime by providing the necessary tools to identify, investigate, and mitigate risks. “Our innovative solution is designed to help financial institutions in Nigeria protect themselves against illegal activities such as money laundering, terrorism financing, and fraud, which can put their reputation and financial wellbeing at risk. Participants at the Breakfast Meeting will have a great opportunity to learn about how our watchlist management solution can benefit their business”, he added.These, according to him, include Human Capacity Development, Construction of Industrial Parks, Public-Private Partnerships and Nigerian Content Intervention Funds, Research and Development, Regulatory Framework, Regional Collaboration, and Enabling Business Environment.
Dwelling on the capacity building programmes required to enhance the training and re-training of capable workforce for the industry, Wabote explained that NCDMB had “delivered close to 14 million manhours of training for acquisition of various skill sets required to explore, develop, operate, and maintain hydrocarbon facilities.”
He listed some of the board’s Human Capacity Development tools and programmes to include the Expatriate Quota Management System, STEM Education, Technical and Vocational Education Training (TVET), Institutional Strengthening, ICT Centers, and Training Certifications.
He informed that, “the NCDMB Gas Hub at Polaku is fully dedicated to domiciliation of gas related enterprises such as Pressure Reduction and Metering Station, CNG mother stations, LPG cylinder manufacturing plant, Gas processing facilities, power plant, and other similar facilities.”
Commenting on the theme of the summit, Wabote said, the challenges of energy transition “has brought to the fore the need for every nation to leverage its own comparative cost advantage by developing the energy resources that it has in relative abundance.
“Most countries including Nigeria have a mix of these resources, and they must apply local content investments to realise a sustainable energy future.”
He described local content development as a philosophy that seeks to encourage the utilisation of local resources such as humans, goods, services, oil, gas, wind, hydro, or solar while at the same time promoting in-country domiciliation of value-adding activities.
