I just read this piece where the author lamented the increasing fraud in the digital payment ecosystem. First, Nigerian banking security  from the customer-facing side is one of the most intriguing banking structures in the world. It is only in Nigeria that you have to put your debit card number, expiration date, last 3 digits and then password to pay for most items. Nigeria’s banking system is more secure than even the US banking system. I mean, we all post our bank account numbers online in Nigeria! Our banks are really solid on security: companies do not post account numbers online in America.

Yet, Nigeria needs to do a really good job in the backend. And that means on the bankers and the systems they work on! If you do not clean that weak point, you expose the bank to vulnerability.

As a former bank’s system automation engineer with admin access to the bank’s general ledger, how you structure logs – no matter how benign – will help in hardening your system. This goes beyond spending more money on technology. 

The #1 rule is this: under no circumstance should you allow a “generic” user which many people can use to login into the bank’s architectures. (In the bank, my responsibility included deepening digital security from the software side.)

Banks and fintechs:  tell the IT unit to do one thing: deactivate all generic users in branches and HQs, and create the accounts with approved privileges for each user.  Branches are some of the weakest links in a bank’s operations. The server is kept in the branch system room and banks with poor security awareness create one user with admin rights. You need that user to do many things like backup, etc. The problem is that many people end up having access to that account (think of Head of Operations, Branch Internal Control, Branch Manager, Regional IT, etc).

Because anyone can login and do whatever he/she wants via that account, accountability post fraud becomes challenging. To deal with that, systems must apportion rights to users with privileges they need and delete generic users. Then have a solid logging structure which ensures you can trace what everyone is doing when logged in. 

If you execute Rule #1 with an all-log regime; those debit card frauds, etc will drop.

Banks Customers Lament Increasing Fintech/Banking Fraud

With a population of at least 200 million people, and possibly up to half of this number having a reason to travel from economic migration to religious pilgrimages to educational and medical tourism to single or group vacations, Nigeria is undoubtedly a prime market for Travel and Visa support services.

The demand for these services is so high that traditional service delivery platforms from Brick and Mortar travel agencies to The Nigerian Immigration Service to Embassy offices have been known to be swamped severally, especially at certain peak holiday periods of the year. 

This has necessitated the emergence of fluid and Mobile Technology-supported solutions that can render at the click of a button everything from flight ticket bookings to hotel room bookings to Immigration and Visa consultancy services to even sports tourism support services in the form of live game ticket booking and travel plans.

Travel/Migration-Tech is not exactly new, there are international names like Expedia and the likes of Wakanow already setting the standard in this subsector of Tech, but information on starting in this field has been quite scarce, paving the way for all sorts of Travel and Visa- related scams. This article aims to bridge this information gap and provide some clarity for Techpreneurs and intending Travel agents seeking entry into this field.

A Travel Agency is a business engaged in rendering support services to facilitate their traveling needs that range from Airline bookings & purchases to tour and accommodation bookings as well as visa counseling services.

Entering into Travel Agency services as a business can be done by :-

a). Starting up as a Freelance Travel Agent (not very advisable).

b). Operating as an affiliate sales outlet to an IATA(International Air Transport Association) registered operator.

c). Directly registering as an IATA Licensed Travel Agent.

d). Directly registering as a NANTA (National Association of Nigerian Travel Agencies) licensed Travel agent.

Requirements For Acquiring IATA Travel Agency Licensing (www.iata.org).

Registration as an IATA agent opens a Travel agency to a wide range of International opportunities and full IATA licensing enables a Travel agent to sell international & Domestic flight tickets on behalf of IATA member airlines as well as allowing access to IATA’s Billing & Settlement plan as well as access to an IATA ID card. The requirements for this type of licensing are :-

a). Registering a company in Nigeria (Minimum Capital Requirement for IATA licensing is 30 million Naira).

b). A staff strength of 4-5 workers, at least 2 of them being able to show proof of working experience with a Licensed Travel Agency or Airline.

c). A physical office address.

d). Registration for a training program of at least 3 months made up of courses that will include Ticketing and Reservation practice at any IATA certified aviation school. Certification exams usually take place every March and September.

e). After IATA licensing, a subscription with a Global Distribution System (GDS) software such as Sabre or Galileo used by agents for all types of Travel-related bookings including Flight seat and Hotel room bookings.

Requirements For NANTA Licensing & Membership (www.Nanta.org.ng)

Full membership of this body is open to all IATA-licensed Travel Agencies in Nigeria while Associate Membership is open to Non-IATA travel agencies in Nigeria. The requirements for NANTA membership are :-

a). Company Registration in Nigeria (a minimum share capital requirement of 2 million Naira).

b). A NANTA membership application/Introduction letter on the applicant company’s Letterhead, preferably preferred by a lawyer.

c). The Company Registration (CAC) Certificate of the Company.

d). International Passport Data of the company’s directors.

Visa Consultants & Visa Agencies – What do they do?

Visa Consultants aid their clients in traveling between countries through rendering Professional advisory services on Legal and Statutory documentation requirements needed to efficiently complete a potentially successful Visa application whether for Travel, study, Medical tourism or Pilgrimage purposes. Visa Consultants do not get directly involved in facilitating a Visa application commencement or completion.

On the other hand, Visa Agencies engage in rendering direct support and management services such as required document submissions to Visa application procedures on behalf of their clients. All Online/Digital Visa Agencies MUST list their front pages the countries their Visa agency services cover.

It is also very important that all Online/Digital Travel Agencies & Visa Agencies retain Immigration Lawyers who are skilled in advising on how to apply for different types of Visas (conditional authorizations granted by a country through its embassy to foreigners allowing them to remain within the issuing country for a set time period), Green Card grants, Citizenship Applications and Applications for Adjustments of Status.

It is hoped that a proper understanding of this article would provide a better insight into how to enter into Travel-Tech as well enabling the making of better-informed decisions when seeking efficient and legitimate professional Travel and Migration support services.