Muscat; In a significant step forward in safeguarding customer data and reinforcing customer confidence and trust, National Bank of Oman (NBO) has successfully implemented advanced Risk Management and Fraud Risk Management systems to enhance its capabilities in protecting clients and ensuring secure transactions. Introducing the latest risk control and fraud prevention technology marks a milestone in improving a customer’s journey towards operational excellence, ensuring every transaction is completely secure. These systems are designed to monitor transactions across all digital channels for NBO and non-NBO customers, ensuring the highest security and protection against fraudulent activities.

Since March 2024, NBO's Fraud Risk Management system has been operational, providing robust protection by analysing transaction behaviours and identifying potential threats in real time. This system, now live, has demonstrated its effectiveness in significantly reducing fraud, thereby enhancing customer trust and confidence. After successfully implementing its Fraud Risk Management system, NBO upgraded its Risk Management System (RiskNet) in June 2024. This enhancement further strengthens the bank’s ability to detect, manage, and mitigate risks, ensuring the security of financial and non-financial transactions across conventional and Islamic channels offered by NBO and Muzn.

Dr Ali Salim al Shekaili, Assistant General Manager and Head of Digital and E-Channels commented: "Implementing these advanced systems marks a crucial step in our ongoing commitment to prioritising customer security. By continuously refining our fraud prevention measures and enhancing our risk management framework, we aim to provide our customers with complete peace of mind when engaging with our digital channels. This is integral to our mission to deliver a seamless and secure banking experience that our clients can trust."

“Guaranteeing customer trust is NBO’s top priority. These tools will fortify the Bank’s risk management framework and help the bank counter potential fraud effectively. NBO's commitment to customer security is reflected in its proactive fraud prevention and risk management approach. By analysing local and global fraud trends, the bank continuously updates its rules and controls to avoid potential threats, demonstrating its vigilance and commitment to customer safety. This dynamic and responsive strategy protects customers and provides them the convenience they deserve while using NBO and Muzn digital channels,” Dr Ali added.

Implementing these systems underscores NBO's dedication to operational excellence and customer satisfaction. NBO is committed to leveraging these enhanced systems to deliver a more secure and seamless banking experience, reinforcing trust and confidence across all customer interactions.

For more information on NBO's security measures and digital banking services, visit www.nbo.om, contact the NBO Call Centre at 24770000, or access services via the NBO app.