Qatar International Islamic Bank (QIIB) has selected IBM Safer Payments and implemented a cross-channel fraud prevention solution.
QIIB is a privately-owned Islamic bank in the State of Qatar, which offers personal and corporate Islamic banking solutions. At the same time, IBM Safer Payments is a data science-based payment fraud prevention solution, and its goal is to allow banks to intercept fraudulent activities before they happen.
IBM’s cognitive fraud prevention solution provides analysis on fraudulent patterns. It also predicts and alerts the bank of emerging fraud threats, and recommends countermeasure responses. Financial and non-financial data along with the customer’s transaction history are used, in order to perform authentication on every transaction in real-time. As per IBS Intelligence, the solution is meant to enable more security for the bank’s customers.
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