| Search icon Language change
  • Personal
  • SME
  • Corporate
  • Private
  • About Us
  • Saudi Awwal Bank partners with Mastercard to offer greater acces to secure digital transactions

    November 2023


    • The bank will leverage Mastercard’s advanced AI-based cybersecurity technology to prevent payment fraud

      Riyadh, 13\11\2023 – Saudi Awwal Bank has partnered with Mastercard to offer customers across the country greater access to secure digital transactions.

      Through this partnership,” SAB” will leverage Mastercard Gateway’s advanced Transaction Risk Management technology (TRM) to deliver safe and seamless digital transactions, customer protection from cyber-crime and payment fraud prevention. Driven by cutting-edge data science. Mastercard Gateway AI-powered technology helps to reduce financial risk by proactively assessing transactions for vulnerabilities.

      Yasser Al-Barrak, Chief Corporate and Institutional Banking Officer at SAB, commented: “As we evolve our digital proposition, we have chosen Mastercard, our long-standing trusted partner, to support our efforts in the cybersecurity space. The company is ideally positioned to help us boost our capabilities to mitigate financial risks and increase peace of mind.”

      He added: “This partnership reflects our commitment at “SAB” to provide a reliable and secure digital financial environment for all our customers. We continuously strive to equip them with advanced tools and solutions that instill confidence in conducting online banking transactions. This partnership reflects our commitment to provide a reliable and secure digital financial environment for all our customers.”

      Adam Jones, Country General Manager, MENA Central, at Mastercard, said: “At a time when cyber threats are growing globally and cyber criminals are getting smarter, Mastercard’s innovative cybersecurity solutions are foiling cyber-attacks worth billions of dollars every year. We are delighted to strengthen our strategic partnership with “SAB” to provide enhanced protection for its digital transactions. Our collaboration aligns with our commitment to driving the digitization of the payment ecosystem in Saudi Arabia and with the objectives of the Kingdom’s national cybersecurity strategy.”

      In line with Saudi Arabia’s Vision 2030 and its goal of building a thriving digital economy and a 70% cashless society by 2030, according to the latest Global Cybersecurity Index (GCI), Saudi Arabia ranks first in cybersecurity readiness in the Middle East and North Africa.

    Your are now leaving this site

    Your are now leaving this site

    You are about to leave this site. You are being redirected to an external site. Would you like to leave this site?