Home Middle East “Global Identity and Fraud Decisioning Company Bureau enters KSA to strengthen SAMA-mandated Fraud Framework”

“Global Identity and Fraud Decisioning Company Bureau enters KSA to strengthen SAMA-mandated Fraud Framework”

by Press Room

Riyadh, KSA – (ARAB NEWSWIRE) – Bureau, a global leader in identity decisioning solutions, is thrilled to announce its entry into the Kingdom of Saudi Arabia (KSA), offering cutting-edge identity verification, fraud prevention, compliance management, and risk mitigation services. As businesses in KSA grapple with the latest anti-financial fraud regulations set forth by the Saudi Arabian Monetary Authority (SAMA), Bureau’s robust platform promises to fortify the financial sector against fraudulent activities while streamlining customer onboarding processes. SAMA is the first but surely not the last regulatory body to emphasise consumer protection and fraud prevention.

Bureau’s innovative approach is founded on three pillars: mapping digital personas to physical identities, analysing behavioural activity, and building an identity network through link analysis. By combining these elements, Bureau assesses the riskiness of transactions as well as identities and detects anomalies that could be indicative of fraudulent activity. This holistic approach addresses the shortcomings of traditional methods and provides unparalleled security and efficiency.

Bureau’s continuous transaction screening and monitoring solutions coupled with the fraud prevention suite that is an industry-leading combination of device fingerprinting and behavioural AI is already a hit among several partners and customers in the GCC region.

Mr. Ranjan Reddy, CEO of Bureau, expressed his enthusiasm about the expansion, saying, “Bureau is excited to bring its advanced Fraud Prevention solutions to the KSA market. As financial institutions and businesses in Saudi Arabia seek to comply with the new anti-financial fraud regulations set by SAMA, our solution offers a comprehensive, one-stop product suite for identity, risk, fraud, and compliance needs. By combining digital and physical identity verification with behaviour analysis, we provide a robust defence against fraud. Our platform’s low-code approach ensures seamless integration, while real-time decision-making capabilities set us apart from traditional data brokers.”

Preekshit Gupta – Bureau’s Vice President, said “The sophistication of the Saudi market and the rate at which the ecosystem is growing is very encouraging and not at all surprising – we are excited to partner with local banks and fintechs to take fraud prevention to the next level.”

Key Benefits of Bureau’s Solutions:

Efficiency: Bureau eliminates the need for multiple vendors, making it a one-stop solution for identity, risk, fraud, and compliance.

Engineering Bandwidth Savings: The platform’s low-code approach allows easy integration of new modules and customization of customer journeys, simplifying the process and saving engineering resources.

Real-Time Decisioning: Bureau specialises in providing real-time AI-powered scores and real time decisions, ensuring quick responses and action against fraudulent activities.

Continuous monitoring: Bureau continuously monitors users even after they are onboarded ensuring ongoing compliance with SAMA

Bureau’s entry into the KSA market couldn’t be more timely, considering the new SAMA CFF mandate, which requires banks to establish anti-financial fraud units and enhance awareness among employees and customers. Bureau is committed to supporting financial institutions in meeting these requirements, thereby fortifying the financial sector’s defences against fraudulent operations.

For more information about Bureau and its innovative solutions, please visit www.bureau.id.

About Bureau:

Bureau is a global leader in identity decisioning, offering a comprehensive platform that combines digital persona mapping, physical identity verification, and behavioral analysis to combat fraud and streamline compliance processes. With a global presence and a history of successful partnerships across India, Southeast Asia, and the Middle East, Bureau is at the forefront of revolutionizing identity decisioning.Bureau has offices in UAE, India, and USA.

For media inquiries, please contact:
Maruthi Kumar S maruthi@bureau.id

This press release is issued through Arab Newswire (www.arabnewswire.com) – a newswire service for Arab World, Middle East and North Africa (MENA), and it is distributed by EmailWire™ (www.emailwire.com) – the global newswire service that provides Press release distribution with guaranteed results™.

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