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Joël Winteregg, NetGuardians CEO

Canada’s FirstOntario Credit Union has selected NetGuardians’ financial crime solution, becoming NetGuardians’ first client in North America.

NetGuardians’ solution will plug straight into FirstOntario’s core banking platform – T24 from Temenos. NetGuardians’ is a Temenos Complementary Solution Provider, which means that it integrates into T24 with pre-set connectors, reducing implementation time and cost – for FirstOntario, the implementation project took three months.

“Our IT Security and Risk Department highlighted the global trend of increased cyber-fraud and recommended a review of our defence in depth strategies,” commented Michael Walsh, vice president, Information Technology at FirstOntario.

Read more:  NetGuardians to expand with Series C investment

“After an extensive search for a single platform that would satisfy our needs, we selected NetGuardians. We were impressed by their focus on financial crime mitigation and the well-developed library of relevant fraud controls.”

Joël Winteregg, NetGuardians CEO, remarked on the company’s ability to give FirstOntario’s 115,000 customers cyber protection.

Cyber-fraud is expected to reach the costs of $6 trillion a year by 2021 in the industry, according to Cyber Security Ventures’ Cyber Crime Report 2016.

See more: NetGuardians joins forces with Swiss university to tackle fraud

by Henry Vilar
Henry is Junior Reporter at IBS Intelligence, follow him on Twitter or contact him at: henryv@ibsintelligence.com