Al Rajhi Malaysia Selects Feedzai to Bolster Security for Its Digital Bank

Al Rajhi Bank Malaysia (ARBM) has partnered with risk management platform Feedzai to integrate the latter’s RiskOps solution onto its platform.

RiskOps by Feedzai is a fully integrated cloud offering which covers device authentication, malware defense, behavioral biometrics along with a package of fraud detection scenarios from scams to account takeover.

It also has a full suite of integrated Fraud and AML solutions from customer due diligence to watchlist screening and transaction monitoring.

According to earlier reports, ARBM will be launching its digital bank in 2022 that will be headed by Ikram Khaliq as the Head of Digital Bank.

ARBM has formed partnerships with the likes of cloud native core banking technology firm Thought Machine and Singaporean digital banking solution provider Moneythor to help build its digital bank offering.

“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.

 

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.”

said Nuno Sebastião, CEO at Feedzai.

“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.

 

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.”

said Arsalaan (Oz) Ahmed, Chief Executive Officer, Al Rajhi Bank Malaysia.