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Egyptian Bank ADCB-EGYPT Partners with SAS to Implement AI-Powered Fraud Detection Solution
In a significant move aimed at enhancing real-time fraud prevention capabilities, ADCB-EGYPT has announced its partnership with analytics leader SAS to implement Egypt’s first AI-powered fraud detection solution.
Enhancing Real-Time Fraud Prevention Capabilities
The innovative technology is designed to monitor multiple channels, including:
- Internet banking
- Mobile banking
- IVR (Interactive Voice Response)
- Card transactions
A Milestone for ADCB-EGYPT
The successful rollout of the project marks a significant milestone for ADCB-EGYPT, making it the first bank in Egypt to adopt an AI-driven fraud detection capability powered by SAS’ Fraud Management Solutions.
Real-Time Detection and Prevention
The partnership enables ADCB-EGYPT to detect suspicious activities and malicious attacks in real-time, thanks to embedded analytics that amplify its ability to review transactions. This ensures a seamless and secure financial ecosystem for customers.
Self-Service Capabilities
The AI-powered solution also provides self-service capabilities for configuring new rules and simulations, allowing ADCB-EGYPT to stay agile and adapt quickly to changing market conditions and regulations issued by the Central Bank of Egypt.
Quotes from Key Executives
“We are committed to being at the forefront of innovation and creating a seamless and secure financial ecosystem for our customers,” said Ihab ElSewerky, Managing Director & CEO at ADCB-EGYPT. “Our partnership with SAS ensures that we can deliver advanced technology for fraud detection and prevention across our various banking channels.”
“we are proud to be part of ADCB-EGYPT’s successful journey and to ensure that it is secure one,” said Samir Naguib, Country Manager, Egypt at SAS. “Our AI-generated prevention strategies help sift through large volumes of transactions and multiple risks, reducing false positives for enterprise and cross-channel fraud prevention.”
A Commitment to Digital Transformation
The partnership demonstrates ADCB-EGYPT’s commitment to the country’s security-first approach to digital transformation. With SAS’ expertise in AI and analytics, the bank can predict behavioral patterns, safeguard customers, and efficiently manage risk.
A Leader in Innovation
ADCB-EGYPT has a reputation for being at the forefront of innovation in Egypt’s banking sector, implementing ground-breaking solutions that meet the increasing demand for e-banking. The partnership with SAS is expected to further strengthen the bank’s position as a pioneer in the industry.