Network International & Invest Bank sign fraud prevention deal
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Left to right: Ram Chari, Head of
Network International and Mr. Sami
Farhat, General Manager Invest Bank. | Network International, the region's leading EMV-certified payment card solution provider has signed an agreement with Invest Bank that will enable the bank to effectively combat card fraud.
Mr. Sami Farhat, General Manager Invest Bank said, 'We at Invest Bank continuously strive to adopt the latest technologies so that we can provide a safe environment for our customers; this system will not only protect the bank but also our customers. We are happy to be associated with Network International to combat fraud on our cards business'.
Ram Chari, Head of Network International said, 'Network International currently provides this service to multiple banks across the region. Due to the rapid increase in incidences of fraud & the effectiveness of the system we have various banks talking to us who are interested in this vital service. Invest Bank's decision to include PRM in their portfolio shall give a major boost to their card operations by combating losses caused by fraudulent transactions.'
The PRM system operates on expertly defined, Visa certified, rules & strategies. The rules-based system provides rapid tactical changes to detect changing fraud patterns as they happen.
Network International is the only company that offers a full range of card processing solutions. Network specialises in managing and processing card payment solutions, ATM sharing services, merchant acquiring, e-commerce and chip card programmes.
Ram concluded, 'PRM has been approved by Visa CEMEA for its monitoring functions because the rules templates incorporated in the system comply with Visa International operating regulations and standards. It presents a serious problem to anyone thinking about using a stolen or doctored card.' |
