ADCB – Egypt, SAS launch real-time AI system to combat fraud

The Abu Dhabi Business Financial institution – Egypt (ADCB) has collaborated with SAS Institute for Superior Analytics and Knowledge Administration to implement Egypt’s first AI-powered fraud detection answer aimed toward enhancing real-time fraud prevention capabilities. from the financial institution. The mission exemplifies the dedication of each entities to the nation’s security-first strategy with respect to its fast-moving digital transformation journey.

The profitable deployment makes ADCB-Egypt the primary financial institution within the nation to undertake an revolutionary, AI-driven fraud detection functionality powered by SAS fraud administration options. The partnership will enable the Financial institution to watch a number of channels akin to Web banking, cell banking, interactive voice response (IVR) and card transactions. The introduction of an AI-powered answer with built-in analytics amplifies the financial institution’s capability to overview suspicious exercise and detect malicious exercise in actual time. As well as, the answer will be sure that the monetary establishment has entry to a self-service on the configuration of latest guidelines and simulations making them extra agile to maintain up with the laws issued by the Central Financial institution of Egypt (CBE) and altering market situations.

Commenting on the partnership, Ihab ElSewerky, Managing Director and CEO of ADCB-Egypt, stated: “In keeping with our digital transformation technique and our dedication to being on the forefront of innovation, our collaboration with SAS ensures that our key pillars are met, by making a fluid and safe monetary ecosystem for our purchasers. The AI-powered answer affords our shareholders such superior know-how for fraud detection and prevention throughout our numerous banking channels. By means of our strategic associate SAS, we will ship on our promise to repeatedly innovate and reimagine the digital panorama of the banking sector within the nation. “

“Leveraging our ongoing partnership with ADCB-Egypt, we successfully bolstered its fraud prevention capabilities by leveraging our analytics and synthetic intelligence options, serving to the financial institution predict conduct patterns, defending prospects, and managing danger effectively. The scalable answer is aligned with the Financial institution’s agenda to additional broaden throughout the area and considerably strengthen the belief of its purchasers by defending all factors of contact. ADCB-Egypt has constantly confirmed that it’s a pioneering monetary group implementing revolutionary options that meet the rising demand for digital banking. We at SAS are proud to be part of the financial institution’s profitable journey and to have the ability to be sure that it’s protected, ”stated Samer Naguib, Nation Supervisor, Egypt at SAS.

SAS has a historical past of offering prospects and monetary establishments throughout the area with entry to AI-generated prevention methods in minutes, guaranteeing that their banking journey is safer. Its options assist filter massive transaction volumes and a number of dangers by including quite a few situations to cut back general false positives for enterprise and cross-channel fraud prevention.

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