Al Rajhi Bank Malaysia partners Feedzai to secure digital bank

• Enables ARBM to manage security concerns from a single platform
• Protected against financial crime such as money laundering, scams 

Al Rajhi Bank Malaysia is implementing Feedzai’s RiskOps platform to handle the challenges of identity, real-time data, and collaboration across the entire customer lifecycle.

In a statement, the bank said this partnership is part of its continuous effort to build a digital bank and become the #1 Islamic innovation bank in Malaysia.

According to Al Rajhi Bank Malaysia (ARBM), Feedzai, the world’s first RiskOps platform for financial risk management and the bank announced a partnership which will see Feedzai’s leading RiskOps platform implemented onto the platform.

Nuno Sebastião, chief executive officer (CEO) at Feedzai said, “In addition to providing the highest level of financial security for ARBM and their customers, our unified RiskOps platform will ensure that their teams have a single platform to handle everything fraud and financial crime-related.

“By selecting a single, scalable solution that is already trusted by many of the world’s largest banks, ARBM will ensure its customers are well protected against financial crime such as money laundering or scams which ultimately erode consumer trust in the financial system,” said Sebastião.

Arsalaan (Oz) Ahmed (pic), CEO, Al Rajhi Bank Malaysia, said “Our strategic key partners have enabled us to tap into the vast potential of cutting-edge technology to help advance towards our vision of becoming the #1 Islamic finance innovation bank in Malaysia. 

“Feedzai was the stand-out provider to meet all our financial crime prevention needs in keeping our customers safe and secure in an ever-evolving financial crime landscape,” said Ahmed.

He added that the partnership with Feedzai is in line with the bank’s commitment to innovation and reimagining the 21st century banking experience.

Feedzai’s RiskOps meets key industry challenges to seamlessly solve for identity, real-time data, and collaboration across the customer lifecycle whilst increasing productivity and enabling financial services companies to deliver better outcomes for their customers.