Tanzania, Sept. 7 -- Dar es Salaam. The Bank of Tanzania (BoT) has backed Creditinfo's launch of locally operated fraud detection, identity verification and know-your-customer (KYC) solutions, saying they could help financial institutions strengthen controls against fraud while improving access for legitimate customers.

Speaking at the launch in Dar es Salaam at the weekend, BoT official Deogratias Mnyamani said fraud detection, anti-money laundering (AML) screening and identity verification services had traditionally been provided by international vendors operating outside Tanzania.

"Today marks the departure from that pattern. This is the first time this solution is being offered by an entity right here in Tanzania, built with an unde...