At Versos, we bring extensive experience and a proven track record in deploying industry-leading cyber fraud systems and processes for prominent banks in the Kingdom of Saudi Arabia. Our strategic partnership with Group IB enables us to implement their cutting-edge Fraud Protection (Fraud Hunting Platform – FHP), which we have successfully integrated into major banks over the past two years.
Navigate Operational and Financial Challenges with Confidence
In the face of escalating cyber fraud, organizations are grappling with significant operational and financial challenges. Effectively countering these threats demands a deep understanding of the latest tactics, comprehensive threat intelligence, round-the-clock monitoring, and a pool of skilled resources. The Saudi Central Bank (SAMA) has mandated stringent guidelines under the Counter Fraud Framework, compelling organizations to establish robust anti-fraud systems and customer profiling mechanisms. Meeting these requirements demands substantial investment, posing a formidable challenge even for large enterprises.
Comprehensive Cyber Fraud Management Services
We are now extending our expertise to manage Cyber Fraud Operations for organizations of all sizes, ensuring continuous monitoring and prevention of cyber fraud on a 24/7/365 basis, as mandated by SAMA. Our key offerings under the Cyber Fraud Fusion Centre include:
Cutting-Edge Platform Technology as a Service
Versos, in collaboration with leading-edge platforms, delivers a comprehensive solution to prevent and combat fraud across all digital channels. Our protection platform provides real-time actionable insights to effectively fight fraud.
Cyber Fraud Operations Management
Versos offers 24/7 managed services for cyber fraud operations, deploying skilled Cyber Fraud Analysts and Technology Administrators to provide end-to-end management. Our services include Daily, Weekly, and Monthly reports, Rule review, Quality Checks, Alert optimization, Compliance confirmation, and Policy and Procedures management.
Cyber Fraud Consulting
Our consulting services provide a holistic approach to building a cyber fraud function, encompassing:
- Cyber Fraud Program Development
- Cyber Fraud Process Development
- Cyber Fraud Maturity Assessment
- Cyber Fraud Strategy Development
- SAMA Counter Fraud Framework Compliance Services
- Counter Fraud Trainings
Key Benefits for Our Clients
Efficiency
- Continuous protection with round-the-clock resource availability
- Enhanced efficiency in alert resolution
- Faster information dissemination
- Centralized hub for all cyber fraud activities
- Accelerated service enablement and delivery
- Reduced operational costs for regulatory compliance
Effectiveness
- Significant reduction in false positive rates
- Accelerated learning curve
- Benefits of a collaborative consortium approach
- Effective rule management
Stringent quality control
