Bank al Etihad chooses NetGuardians to mitigate fraud risk
By Delisha Fernandes
NetGuardians, a Swiss-based FinTech, has been chosen by Jordan’s Bank al Etihad to mitigate financial fraud risk.
This collaboration will help Bank al Etihad to strengthen its fraud prevention capability, mitigating the risk of fraudulent activity across all payment channels.
NetGuardians develops AI-based financial fraud and anti-money laundering solutions that currently protect over $7 trillion in assets at banks worldwide, including the Middle East, Europe, Africa, and APAC.
Jonathan Somers, Regional Sales Director MEA at NetGuardians, said, “With our experience working with banks across the region, we are delighted to partner with Jordan’s Bank al Etihad. Our payment fraud solution is perfect for a bank that places as much emphasis on customer care as Bank al Etihad does. With NetGuardians alongside, Bank al Etihad clients can have confidence that their assets will always be protected in real-time, even as financial scams evolve.”
NetGuardians software protects the institutions in real-time, monitoring all transactions and providing a risk score by assessing them against the usual customer profile, using innovative behavioural analytics, machine learning, and artificial intelligence. This procedure reduces the frequency of false positives, improving detection rates while ensuring a seamless customer experience and lowering operational costs.
Zeina Asfour, Director of Operations Risk at Bank al Etihad, said, “The NetGuardians AI-based fraud protection solution is an obvious choice for Bank al Etihad. As a forward-thinking financial institution, we constantly seek new and innovative ways to improve our products and service delivery to our customer community. Employing AI and machine learning to monitor payment transactions in real-time, improving detection and minimising customer experience friction was an easy decision.”
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September 27, 2023