






CHALLENGE
Money lost to fraud
Fraud prevention encompasses various challenges, including accurate identity verification, secure transactions, and mitigating the risk of financial losses. Traditional methods relying on manual and paper-based documentation are prone to forgery, tampering and human errors. Without adequate checks released funds can be lost to fraudsters.
SOLUTION
Real-time IBAN verification
By leveraging secure APIs, financial institutions can access real-time customer financial data directly from banks, facilitating enhanced identity and account verification. Through IBAN verification, providers can validate the accuracy and legitimacy of customer-provided account information, minimising the risk of fraud.
Events and Resources
Business growth
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Lending
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Saudi Arabia
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Data
Riyadh, Kingdom of Saudi Arabia – 23 April, 2025:American Express Saudi Arabia has introduced a ground-breaking, open banking-powered ...
Open finance
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Banks
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Data
Finance isn’t just evolving, it’s learning.
Saudi Arabia
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Banks
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Bahrain
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POS Financing
Digitisation is perpetually transforming industries, redefining how we shop, travel and consume entertainment. Yet, applying for a loan still feels ...