| banking |
Bank ABC first bank to employ Biometric-Based Digital KYC
June 25, 2019
Manama, June 24 (BNA): Bank ABC, MENA’s international Bank announces partnership with Jumio, the leading end-to-end AI-powered identity verification and authentication provider. The partnership enables Bank ABC’s new mobile-only bank to compliantly onboard new individual customers using Jumio’s award-winning biometric-based identity verification technology. "...
Visa Prevents Approximately $25 Billion in Fraud Using Artificial Intelligence
June 24, 2019
Visa Inc. (NYSE: V) today announced new analysis showing Visa Advanced Authorization (VAA) using artificial intelligence (AI) helped financial institutions prevent an estimated $25 billion in annual fraud—making the global payment ecosystem safer for retailers and consumers.i VAA is a comprehensive risk management tool that monitors and evaluates transaction authorizations on the Visa global payment network, VisaNet, in real time to help financial institutions promptly identify and respond to emerging fraud patterns"...
Al Salam Bank offers cash back chance on cards
June 24, 2019
Al Salam Bank-Bahrain, a pioneering Shari’a-compliant bank in the kingdom, has announced the launch of a new summer offer on its range of Visa credit and prepaid cards. Running from June 18 to August 31, the campaign offers 10% cash back to the top 12 cardholders who use their cards the highest number of times while travelling abroad or shopping online. The promotion"...
Al Salam Bank offers a chance to win 10% cash back on all international credit and prepaid card transactions
June 23, 2019
Al Salam Bank-Bahrain, the pioneering Shari’a-compliant bank in the Kingdom, announced the launch of a new summer offer on its range of Visa Credit and Prepaid cards. Running from 18 June to 31 August 2019, the campaign offers 10% cash back to the top 12 cardholders who use their cards the highest number of times while travelling abroad or shopping online. The promotion builds on the success of a pre-summer promotion this year, which saw 10 cardholders win 5% cash back on their international transactions. Al"...
Ebdaa Bank drives measures to support Special needs
June 23, 2019
Ebdaa Bank for microfinance announced the roll out of decisions and measures to support bank’s employees and customers with special needs, as part of bank’s intentions to the national approaches to encourage all entities in Bahrain to support disabled people and promote financial inclusion. Chief Executive of Ebdaa Bank Dr Khaled Al Ghazzawi confirmed bank’s recent decision to allow employees with special needs or those taking"...
Legerity FastPost Helps Leading Life Insurer to Automate New Financial Reporting and Disclosures Process
June 20, 2019
Aegon UK, a leading savings, protection and investment service provider has selected Legerity Limited’s FastPost IFRS 17 solution to help it transition to the new International Financial Reporting Standard (IFRS 17). The new standard takes effect from January 2022 and is one of the most significant changes to accounting in the insurance sector in years, Legerity will provide Aegon UK with its third generation FastPost Accounting Rules and"...
Bank ABC Partners with Jumio to Become First Bank in the Middle East to Employ Biometric-Based Digital KYC Functionality
June 20, 2019
Jumio, the leading AI-powered trusted identity as a service provider, today announced a partnership with Bank ABC, the MENA (Middle East and North Africa) region’s leading international bank. The partnership enables Bank ABC’s new mobile-only bank to compliantly onboard new individual customers using Jumio’s biometric-based identity verification solution. Based in Bahrain, Bank ABC currently serves customers on five continents, covering countries in the Middle East, North Africa, Europe, the Americas and Asia. Bank ABC plans to launch one of the region’s first digital banks and has invested in establishing digitised operations including a fully digital KYC capability. Simplifying and streamlining the onboarding process is central to these efforts. Traditionally, it takes consumers one to two weeks to create a new account and requires them to visit a local branch in person to complete the account set-up process. “Bank ABC is committed to leveraging the benefits of AI technologies to create seamless customer journeys for accessing banking......
CBB warns consumers against dealing with unlicensed market intermediaries
June 19, 2019
The Central Bank of Bahrain (CBB) would like to warn consumers against dealing with unlicensed market intermediaries that market investment in securities in the Kingdom of Bahrain through short message services (SMS), telephone calls and websites. This warning comes as a result of a fraudulent institution under the name of “National Investment Bank” which is claiming to be licensed by the Central Bank of Bahrain to undertake trading"...
Animation, Sound & Vibration – How Visa is Reinforcing Consumer Trust in a Changing Payments World
June 19, 2019
Visa (NYSE: V) today announced global adoption of its sensory branding suite in 25 countries via more than a dozen new partnerships. The suite is comprised of sound, animation and haptic brand cues that occur with a Visa payment transaction. In a digital world increasingly filled with voice-commands, networked appliances and unattended retail environments, Visa’s sensory branding cues offer new ways to enhance the customer experience and convey the trust and security that the Visa brand represents. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190617005240/en/ Visa was the first major payment brand to introduce multi-sensory branding, which included animation, sound and haptic vibration expressions of its brand. After an extensive creation and selection process that involved focus groups and elimination rounds, Visa landed......
ABG & Eazy financial Services inks MoU on Strategic partnership
June 18, 2019
Al Baraka Banking Group B.S.C, (ABG) a Bahrain-headquartered Islamic banking major, and Eazy Financial Services B.S.C (c) (Eazy), have signed a Memorandum of Understanding (MoU) paving the way to conduct a feasibility study for deploying biometric payment network and digital banking services across ABG’s network of Banking Units spread across 17 countries. Mr. Adnan Ahmed Yousif, President & Chief Executive of Al Baraka Banking Group and"...
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