Jordan-based bank Bank al Etihad partners with Swiss fintech NetGuardians to implement an AI-powered payment fraud prevention solution, enhancing its fraud detection capabilities and safeguarding customer assets.
Facts
- Bank al Etihad, a Jordanian banking and financial institution, has been serving customers since 1978 and comprises various entities, including a financial brokerage company and a financial leasing company.
- With NetGuardians’ solution, the bank aims to strengthen its fraud prevention capabilities and detect fraudulent activities in real-time across all payment channels. The solution utilizes behavior analytics, machine learning, and AI to assess transactions and assign risk scores to customer profiles.
- NetGuardians claims that its solution reduces the occurrence of false positives, improves detection rates, lowers operational costs, and maintains a positive customer experience.
- Zeina Asfour, director of operations risk at Bank Al Etihad, considers NetGuardians an “obvious choice” for the bank, as it employs AI and machine learning to monitor payment transactions in real-time, improving detection and minimizing customer experience issues.
- Jonathan Somers, regional sales director MEA at NetGuardians, believes that their solution will instill confidence in Bank al Etihad’s customers, assuring them that their assets will always be protected in real-time, even against evolving financial scams.
- NetGuardians’ recent clients include Swissquote, Radicant, Twint, and Bank of Africa.
