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.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.