BANK OF AFRICA picks NetGuardians to combat payment fraud

NetGuardians, an enterprise risk platform to combat financial fraud, has been selected by BANK OF AFRICA to safeguard its assets in Morocco.

As part of the deal, BANK OF AFRICA will use NetGuardians’ fraud prevention software to protect its assets and branches in Morocco against internal and payment fraud.

NetGuardians’s software builds customer profiles through the use of behavioural analytics, machine learning, and artificial intelligence. Its software monitors all transactions and provides a risk score by comparing it against the customer profile.

The software reduces false positive volumes and empowers financial institutions to discover and stay on top of emerging threats from fraud schemes.

NetGuardians Middle East and Africa regional director Jonathan Somers said, “Africa is a continent growing in opportunity, and technology-based infrastructure plays a large role in facilitating this growth.