Best Fraud Prevention Technology Implementation goes to Ahli United Bank and Tata Consultancy Services
The winning bank implemented a multi-entity, multi-channel fraud management solution that enabled real-time fraud detection and monitoring of all electronic transactions. It uses machine learning based anomaly and fraud pattern analysis as well as enhanced investigation tools.
The system was implemented across Bahrain, Egypt and Kuwait, and brought cost savings of over 50%, reduction in fraud and risk incidents by 60% and drop in fraud losses by 30%.
For its achievements in fraud prevention, the award for Best Fraud Prevention Technology Implementation goes to Ahli United Bank and Tata Consultancy Services