Egypt: ADCB-Egypt launches AI-powered fraud detection solution through SAS

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ADCB-Egypt and SAS have announced their partnership for the implementation of Egypt’s first AI-powered fraud detection solution aimed at enhancing the bank’s real time fraud prevention capabilities.

The partnership will enable the bank to monitor multiple channels such as Internet banking, mobile banking, Interactive Voice Response (IVR), and cards transactions. The introduction of an AI-driven solution with embedded analytics amplifies the bank’s ability to review suspicious activities and detect malicious activities in real-time. In addition, the solution will ensure that the financial institution has access to a self-service on configuring new rules and simulations making them more agile to keep up with regulations issued by the Central Bank of Egypt (CBE) and changing market conditions.

The solutions help sift through large volumes of transactions and multiple risks by adding numerous scenarios to reduce the overall false positives for enterprise and cross channel fraud prevention.
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