Feedzai, the world’s first RiskOps platform for financial
risk management, and Al Rajhi Bank Malaysia (ARBM) have announced a partnership
which will see Feedzai’s leading RiskOps solution implemented onto the
platform.
“We are delighted that Al Rajhi Bank Malaysia has selected
Feedzai as a trusted partner. In addition to providing the highest level of
financial security for ARBM and their customers, our unified RiskOps platform
will ensure that their teams have a single platform to handle everything fraud
and financial crime-related,” said Nuno Sebastião, CEO at Feedzai. “By
selecting a single, scalable solution that is already trusted by many of the world’s
largest banks, Al Rajhi Bank Malaysia will ensure its customers are well
protected against financial crime such as money laundering or scams which
ultimately erode consumer trust in the financial system.”
Since 2021, ARBM set its vision to become the #1 Islamic
innovation bank in Malaysia and initiated its digital transformation by
building a digital bank. The bank is committed to invest in a customer-focused
approach and to emerge as the leader in the Islamic banking industry while
delivering greater value to their customers and deepening financial access and
relevance.
Arsalaan (Oz) Ahmed, Chief Executive Officer, Al Rajhi Bank
Malaysia, added “Al Rajhi Bank Malaysia is launching a state-of-the-art digital
bank which will be differentiated by its high levels of innovation,
customer-centricity and reliability. Our strategic key partners have enabled us
to tap into the vast potential of cutting-edge technology to help advance
towards our vision of becoming the #1 Islamic finance innovation bank in Malaysia.
Feedzai was the stand-out provider to meet all our financial crime prevention
needs in keeping our customers safe and secure in an ever evolving financial
crime landscape. The partnership with Feedzai is in line with our commitment to
innovation and reimagining the 21st century banking experience.”
Feedzai’s RiskOps meets key industry challenges to
seamlessly solve for Identity, Real-Time data, and collaboration across the
customer lifecycle whilst increasing productivity and enabling financial services
companies to deliver better outcomes for their customers. RiskOps by Feedzai
fully integrated cloud offering, covers device authentication, malware defense,
behavioral biometrics (along with a package of fraud detection scenarios from
scams to account takeover) and a full suite of integrated Fraud and AML
solutions from Customer Due Diligence to Watchlist Screening and Transaction
Monitoring.
Feedzai is also continuing to strengthen its presence and
team in the region and recently announced Cormac Sheedy as the new General
Manager for the Middle East & Africa. Sheedy has over 25 years of
experience as a sales director at the crossroads between financial services and
technology. He joins Feedzai from Irish regulation technology firm Fenergo,
where he was head of MENA Sales.