![Fraud Prevention](https://www.tarabut.com/hs-fs/hubfs/Fraud%20Prevention.png?width=1180&height=840&name=Fraud%20Prevention.png)
![hakbahx2 1](https://6849991.fs1.hubspotusercontent-na1.net/hub/6849991/hubfs/Tarabut_Gateway2023/Images/Fraud%20prevention/hakbahx2%201.png?width=150&height=49&name=hakbahx2%201.png)
![Name=Bidaya](https://6849991.fs1.hubspotusercontent-na1.net/hub/6849991/hubfs/Tarabut_Gateway2023/Images/Fraud%20prevention/Name=Bidaya.png?width=150&height=76&name=Name=Bidaya.png)
![Name=Flooss](https://6849991.fs1.hubspotusercontent-na1.net/hub/6849991/hubfs/Tarabut_Gateway2023/Images/Fraud%20prevention/Name=Flooss.png?width=150&height=75&name=Name=Flooss.png)
![hakbahx2 1](https://6849991.fs1.hubspotusercontent-na1.net/hub/6849991/hubfs/Tarabut_Gateway2023/Images/Fraud%20prevention/hakbahx2%201.png?width=150&height=49&name=hakbahx2%201.png)
![Name=Bidaya](https://6849991.fs1.hubspotusercontent-na1.net/hub/6849991/hubfs/Tarabut_Gateway2023/Images/Fraud%20prevention/Name=Bidaya.png?width=150&height=76&name=Name=Bidaya.png)
![Name=Flooss](https://6849991.fs1.hubspotusercontent-na1.net/hub/6849991/hubfs/Tarabut_Gateway2023/Images/Fraud%20prevention/Name=Flooss.png?width=150&height=75&name=Name=Flooss.png)
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
Lending
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Bahrain
Regional-first via new launch of Income Verification product enables instant loans for FLOOSS consumers First and fastest digital loan service in ...
Open Banking
In an age where the speed of service can make or break a financial institution, the traditional loan approval process often feels like a relic of the ...
Open Banking
Lending has always been a balancing act between opportunity and risk. On the one hand, lenders strive to extend credit to qualified borrowers, ...