Johannesburg, South Africa, 4 November 2024 – Expleo has launched ExpleoNóra, the innovative digital security solution previously known as ProtectUs, in the South African market. The anti-smishing technology will help banking institutions and protect their customers from falling victim to fraudulent scams.
The South African Banking Risk Information Centre (SABRIC) stated in its 2022 Annual Crime Statistics report that fraudsters primarily use smishing (SMS phishing) to obtain confidential information through mobile banking channels. In the 2023 Annual Crime Statistics report, SABRIC highlighted a significant increase in digital banking fraud, with reported incidents rising by 45% compared to the previous year. In line with this rise, financial losses grew from R734,698,765 in 2022 to R1,082,393,109 in 2023, reflecting a 47% increase.
Trevor Luyt, Managing Director of Expleo South Africa, commented: “Consumers – particularly those in vulnerable groups – are increasingly the target of social engineering techniques such as smishing. ExpleoNóra is a timely addition to the tools available for companies to address this issue.”
ExpleoNóra was first launched in October 2023 with Irish bank, PTSB, showcasing its advanced security and efficiency features, including:
- Enhanced security protocols: Leveraging innovative technology to provide comprehensive protection against smishing.
- Seamless integration: Easy to implement across existing banking applications, ensuring minimal disruption and maximum efficiency.
- Scalability: Designed to grow with your business, adapting to increasing data and security requirements.
- Proven success: Validated by its deployment at the Permanent TSB, where it demonstrated significant improvements in data protection and system reliability.
