Meet The Pioneers Of Banking Revenue Assurance

You have got to love people who shameless promote themselves. Love them or hate them, I forget which ;) So prepare yourselves for the people who “pioneered bank revenue assurance in the world”. But before I tell you who they are, can you guess which country they come from? Is it:

  1. Switzerland
  2. The United States of America
  3. Japan
  4. Nigeria; or
  5. Germany?

If you guessed the United States, you would be wrong. They are way behind. As are the Europeans and pretty much every other country with an advanced banking infrastructure. Nope, the salvation of banks that allegedly leak billions of dollars comes from the country that ranks 142 in the world corruption index of Transparency International. Yup, Nigeria is the home of EDP Audit & Security Associates, the firm that claims to have first introduced revenue assurance services to “the banking industry of the world”. You can read the full story here (or at least you can read it there most of the time – links to Nigeria’s most widely read newspaper are seemingly erratic). But be warned. They are not staying in Nigeria. As their managing consultant explained:

“We are set to export the services now to South Africa, Europe, North America and Asia; our consultants are technologically poised for the challenges.”

And that is not all. Be afraid. Be very afraid. Because they also do telco revenue assurance!!! :(

One silver lining for all of you worried that your business cannot compete is that this ISACA-registered audit firm will not be getting too much business over the internet. Nope. They may have IT expertise pouring out of their ears, but they do not seem to have a website…

Eric Priezkalns
Eric Priezkalns
Eric is the Editor of Commsrisk. Look here for more about the history of Commsrisk and the role played by Eric.

Eric is also the Chief Executive of the Risk & Assurance Group (RAG), a global association of professionals working in risk management and business assurance for communications providers.

Previously Eric was Director of Risk Management for Qatar Telecom and he has worked with Cable & Wireless, T‑Mobile, Sky, Worldcom and other telcos. He was lead author of Revenue Assurance: Expert Opinions for Communications Providers, published by CRC Press. He is a qualified chartered accountant, with degrees in information systems, and in mathematics and philosophy.