ArabFinance: Abu Dhabi Commercial Bank Egypt (ADCB) and SAS Institute for data management and advanced analytics collaborated to implement Egypts first AI-powered fraud detection solution aimed at enhancing the banks real time fraud prevention capabilities, the bank said in a recent statement.

The project exemplifies both entities commitment to the countrys security-first approach concerning its rapidly progressing digital transformation journey.

This collaboration makes ADCB-Egypt the first bank across the country to adopt an innovative and AI-driven fraud detection capability powered by SAS Fraud Management Solutions.

It will also enable the Bank to monitor multiple channels such as Internet banking, mobile banking, Interactive Voice Response (IVR), and card transactions.

The introduction of an AI-driven solution with embedded analytics amplifies the banks 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.

In line with our digital transformation strategy and commitment to being at the forefront of innovation, our collaboration with SAS ensures that our key pillars are met, by creating a seamless and secure financial ecosystem for our customers, Ihab ElSewerky, Managing Director and CEO at ADCB-Egypt, commented.

The AI-powered solution offers our stakeholders such an advanced technology for fraud detection and prevention across our various banking channels. Through our strategic partner SAS, we are able to deliver on our promise to continuously innovate and re-imagine the digital landscape of the banking sector in the country, ElSewerky added.

It is worth noting that SAS has a track record in providing customers and financial institutions across the region access to AI-generated prevention strategies in a matter of minutes, ensuring that their banking journey is more secure.

Their 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.

Copyright 2021 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an as is and as available basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.