UAE, June, 2024: Network International (Network), the leading enabler of digital commerce across the Middle East and Africa (MEA) region, has commenced a series of roadshows across the GCC and Africa.
The Fraud Resilience Forum held in Bahrain on June 10th and hosted in partnership with BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, saw an impressive participation from Banks and Financial institutions in Bahrain.
Network has spearheaded these roadshows to support banks and financial institutions to raise awareness as well as manage fraud and financial crime efficiently by demonstrating example cases, given the company’s expertise in enterprise fraud prevention. Using patented technologies such as advanced analytics, artificial intelligence, and Customer 360o behaviour profiling to detect transaction anomaly and prevent fraud, Network delivers enhanced security measures and safeguards financial transactions. Network’s anti-fraud services is being used in over 40 banks and financial institutions across the Middle East and Africa region.
Speakers from Bahrain’s Ministry of Interior, Network, BENEFIT, PwC and Grand Thornton shared insightful facts and had thought-provoking discussions on fraud resilience and security, fraud trends, challenges and solutions, customer satisfaction and trust, the role of technology in real time fraud prevention, cross-channel fraud resilience, security, the impact on customer trust.
Navneet Dave, Managing Director & Co-Head of Processing – Middle East at Network International, said: “We are excited to host a roadshow in Bahrain in partnership with BENEFIT. Real time fraud monitoring and prevention has several benefits for financial institutions and banks such as reducing losses, increasing customer confidence and providing an enhanced customer experience. We have an expertise of 30-years in the region and as the leading enabler of digital commerce we feel it’s imperative to share this knowledge bank and provide insights on fraud resilience in the evolving digital landscape across the GCC and Africa. Network remains committed to driving our market presence in Bahrain following our ambitious strategy to be the leader of innovative payment solutions in the region.”
Nezar Maroof, Assistant General Manager of Marketing at BENEFIT, said: “We are delighted to co-host the Fraud Resilience Forum with Network International, which aligns with our commitment to enhancing Bahrain’s position as a regional financial hub in line with the strategic objectives of The Economic Vision 2030. Fraud prevention adds a layer of protection to user accounts and financial information, empowering consumers to navigate their payments journeys with complete confidence.”
The roadshow is in alignment with the Central Bank of Bahrain and the Ministry of Interior’s efforts in raising awareness in fraud-related risk areas.
About BENEFIT:
BENEFIT was established in 1997 and is licensed by the Central Bank of Bahrain (CBB) as an ancillary service provider to the Kingdom’s financial services industry. BENEFIT is owned by Banks in Bahrain, regulated by the CBB, to provide innovative Payment Capabilities, Information Management Solutions, and Business Process Outsourcing Services across different sectors in the Kingdom of Bahrain and the Region.
BENEFIT’s range of services – supported by GCCNet in countries within the region – include operating of Automated Teller Machines (ATM), Point of Sale (POS), GCCNet, The GCCNet Dispute Management System, Credit Reference Bureau (CRB), Telecom Bill Payment (Tele BP), Direct Debit (DD), Payment Gateway (PG), Bahrain Cheque Truncation System (BCTS), Amex Cards withdrawal, eCheque, EFTs, national eWallet and national eKYC Platform for the financial sectors.
About Network International:
Network International is the Middle East and Africa’s largest and leading digital payments company. Our purpose is to help businesses and economies grow by simplifying payments and commerce. We operate in 50+ countries serving governments, banks, fintechs, merchants and public sector companies. We have 2,000+ employees based in our markets serving over 200 financial institutions and 120,000+ merchants.