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BANK OF AFRICA chooses NetGuardians ’ AI software to reinforce internal and payment fraud prevention
wiss FinTech company ,
S
NetGuardians , has announced that BANK OF AFRICA , a pan- African bank present in 31 countries worldwide , 20 of them being in Africa , will use NetGuardians ’ fraud prevention software to further safeguard its assets and branches in Morocco against internal and payment fraud .
More than 25 client banks across Africa and the Middle East are using NetGuardians as their anti-fraud solution ; it is trusted by 40 % of the largest banks in East Africa . NetGuardians is working with banks to protect more than US $ 7 trillion in assets from fraudsters and was listed as a Global Leader in the 2021 Aite-Novarica report on fraud and AML Machine Learning platforms .
Building an intricate anti-fraud culture is paramount to the growth of pan-African banking , as five of the top 10 countries most affected by fraud are in Africa , according to the Global Economic Crime and Fraud Survey .
NetGuardians ’ software forms customer profiles through its innovative behavioural analytics , Machine Learning and Artificial Intelligence . The software monitors all transactions and provides a risk score by comparing it against the customer profile .
The software reduces the volume of false positives , providing an excellent customer and user experience while decreasing operational costs . Machine Learning algorithms help financial institutions to discover and stay on top of emerging threats from fraud schemes .
Trend Micro joins forces with SCCC Alibaba Cloud to strengthen cybersecurity resilience in Saudi Arabia
rend Micro , a global leader in cybersecurity solutions ,
T has signed a Memorandum of Understanding ( MoU ) with Saudi Cloud Computing Company ( SCCC ). Alibaba Cloud , to protect the enterprises of Kingdom of Saudi Arabia from the evolving threat landscape and to promote the localisation of cybersecurity solutions in Saudi Arabia .
During a special ceremony at the inauguration of Trend Micro ’ s MEA HQ in Riyadh , SCCC Alibaba Cloud ’ s Chief Executive Officer , Talal Albakr and Trend Micro ’ s Area Vice President and Managing Director for the Middle East and Africa , Moataz
Bin Ali , signed the agreement in the presence of HE Haytham Alohali , Vice Minister , Ministry of Communications and Information Technology .
In 2022 , Alibaba Cloud became the world ’ s first hyperscale cloud provider to enter the Saudi Arabian market , offering its services through Saudi Cloud Computing Company ( SCCC ). SCCC Alibaba Cloud and Trend Micro will collaborate to provide cutting-edge solutions that benefit the customers of both companies .
Together , they will share cybersecurity best practices , insights and explore opportunities for hosting Trend Micro ’ s innovative data lake in Saudi Arabia . The data lake will allow Trend Micro and its partners to offer advanced threat defence solutions from inside Saudi Arabia . The two organisations will also work together on the localisation of cybersecurity solutions and practices across the Kingdom .
“ SCCC Alibaba Cloud is committed to enhancing collaborations with partners in various markets to provide tailor-made cloud solutions that will empower businesses across industries and help them to thrive in the digital age ,” said Talal Albakr , Chief Executive Officer , SCCC Alibaba Cloud . www . intelligentciso . com
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