Emirates NBD, a bank in the United Arab Emirates (UAE), using CA Payment Security, has reduced fraud, increased the speed of purchases, improved the customer experience and grown its cardholder base.
CA Technologies said the deployment was part of the Emirates NBD’s initiative to boost customers’ e-commerce activity.
CA Payment Security solution evaluates the risk of e-commerce transactions via advanced predictive models, providing customers with effective risk-based authentication. The bank using the CA solution was able to accurately and consistently discern legitimate transactions from fraudulent ones – in real time – while improving the digital shopping experience for consumers.
CA Payment Security Suite, which featured a flexible and user friendly 3-D secure program, assisted Emirates NBD to reduce its challenge rate from 100 percent to 30 percent within months, minimize cardholders’ static password requests for online transactions and lower the cart abandonment rate to 2 percent, down from the regional average of 76 percent.
CA’s predictive models, which employ Artificial Intelligence (AI) and machine learning to assess risk levels with a transaction, assisted Emirates NBD for improving the proportion of successfully authenticated transactions to 97 percent.