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As a reference player in the African banking landscape, the BGFIBank Group has always been a pioneer in the adoption of new technologies in order to offer its customers the most innovative and secure solutions on the market. It is therefore quite natural that BGFIBank chose the expertise of IDEMIA (formerly known as OT-Morpho) to offer its customers high-tech payment cards for the first time in Africa. The adoption of this innovative solution is intended to secure online purchases made by its customers.
Traditional payment cards have a static cryptogram (CVV2) used to pay online and printed on the back of the card, next to the signature pad. If stolen, this code, as well as the card number (PAN) and the expiration date, may be used to make fraudulent online purchases. With Motion Code, the CVV2 becomes dynamic: the 3 digits are permanently displayed on a mini-screen integrated in the card, but automatically change every hour. Thus, the codes stolen unbeknown to the cardholder quickly become unusable online by a fraudster.
BGFIBank is the first bank to deploy Motion Code in Africa, but also in the Middle East. IDEMIA, as a privileged partner of BGFIBank, is very proud to launch this first VISA card with dynamic cryptogram, which guarantees an optimal level of security for online payments.
The launch of Motion Code in our Group is part of the digital strategy that BGFIBank is deploying. The primary objective is to provide our customers with a unique digital experience through innovative tools with real added value. It is therefore with confidence that we, as pioneers, are adopting this innovative technology, the most secure of the market, for the first time in Africa. We are convinced that our collaboration with IDEMIA will enable us to optimize our payment solutions for the Group’s customers.
BGFIBank and IDEMIA have celebrated their partnership and the launch of this new card during an event in Libreville (Gabon) on October 19, 2017.
About IDEMIA - OT-Morpho is now IDEMIA, the global leader in trusted identities for an increasingly digital world, with the ambition to empower citizens and consumers alike to interact, pay, connect, travel and vote in ways that are now possible in a connected environment
Securing our identity has become mission critical in the world we live in today. By standing for Augmented Identity, we reinvent the way we think, produce, use and protect this asset, whether for individuals or for objects. We ensure privacy and trust as well as guarantee secure, authenticated and verifiable transactions for international clients from Financial, Telecom, Identity, Security and IoT sectors.
With close to €3bn in revenues, IDEMIA is the result of the coming together of OT (Oberthur Technologies) and Safran Identity & Security (Morpho). This new company counts 14,000 employees of more than 80 nationalities and serves clients in 180 countries.
For more information, visit www.idemia.com / Follow @IdemiaGroup on Twitter
About BGFIBank Group - BGFIBank Group, a multi-trade international financial group with more than 2,000 employees in 11 countries, daily works with a diversified clientele in Benin, Cameroon, Congo, Côte d'Ivoire, France, Gabon, Equatorial Guinea, Madagascar, the Democratic Republic of Congo, São Tomé and Príncipe and Senegal.
BGFIBank Group’s teams are thus able to provide advice and services to its clients around the four core businesses:
– Commercial banking
– Investment banking
– Specialized financial services