Network International and FICO drive AI-led fraud prevention in Saudi Arabia
Network International (Network), a leading enabler of digital commerce in the Middle East and Africa, and global analytics software leader FICO recently co-hosted a workshop highlighting the role of Artificial Intelligence (AI) and Machine Learning (ML) -led technologies to combat financial fraud in Saudi Arabia. Global business consulting firm PwC also shared insights on fraud risk management.
The event brought together industry leaders from banks, financial institutions, fintechs, and consulting firms to explore advanced fraud prevention frameworks and technologies tailored for Saudi Arabia’s rapidly growing digital payment landscape.
Discussions covered topics such as best practices in fraud prevention for payment cards, retail banking, commercial payments, and AI fraud risk scoring. The importance of understanding customer behaviors and creating 3600 customer views to prevent fraud and scams, particularly through key trends such as social engineering, was also emphasized.
FICO and Network International have been working together since 2017, combining FICO’s innovative technology-led solutions with Network’s digital payments expertise to enhance fraud decisioning and prevention1.
Speaking at the event, Abdulaziz Al-Dahmash, Managing Director and Country Head of Network International Arabia, said: “This marks our first collaboration with FICO in Saudi Arabia to raise awareness and deliver advanced fraud prevention for digital payment solutions, aligned with the Saudi Central Bank’s efforts. Through our partnership with FICO and PwC, we aim to combat fraud and support the Saudi government’s Vision 2030 goals for a secure, world-class digital financial ecosystem.
Punit Jain, Director of Financial Crime Compliance at PwC Middle East, and Arindam Chatterjee, Group Head of Safety & Security at Network International, presented best practices in risk management to help banks and financial institutions drive successful enterprise fraud transformation projects.
FICO’s Chief Analytics Officer, Dr. Scott Zoldi, shared insights on the company’s latest AI innovations like anomaly detection, behavior-sorted lists, collaborative profiling, and proactive scam detection that can reduce false positives while improving real-time fraud prevention. FICO anti-fraud technology protects 4 billion payment cards worldwide, and the company pioneered the use of AI in fraud detection.
The event underscored Network International’s commitment to advancing and protecting the Kingdom of Saudi Arabia’s digital economy through the strategic integration of local expertise, cutting-edge technology, and strong global partnerships.
