Bank of Bahrain and Kuwait and Global Payment Services Deliver the First Advanced Fraud Prevention Solution for Wallet Provisioning in the Kingdom of Bahrain

08 Jan 2025

Bank of Bahrain and Kuwait (BBK), the leading retail and commercial bank in Bahrain announce the successful implementation of a new fraud monitoring and prevention module with Global Payment Services (GPS), a leading provider of innovative payment solutions in the Kingdom of Bahrain.

The new system marks the first deployment of such an advanced fraud prevention system in the Bahraini market, empowering BBK with full control over wallet data while ensuring compliance with Central Bank of Bahrain (CBB) regulations.

On the occasion, Mrs. Nadine Al Shirawi, Head of Group Compliance and MLRO at BBK commented: “This collaboration marks a significant step forward in our commitment to enhancing our financial crime detection and prevention capabilities. By leveraging GPS advanced solution, we will not only strengthen our security measures but also demonstrate our commitment to providing our customers with the most secure and efficient banking experience.”

The AI-enhanced fraud prevention platform empowers BBK with comprehensive control over the tokenization process for mobile wallet provisioning. This ensures compliance with Central Bank of Bahrain (CBB) regulations while delivering robust protection against emerging fraud threats.

“We are proud to partner with BBK on this groundbreaking initiative, which strengthens our shared vision of delivering secure, compliant, and customer-centric payment solutions,” said Mr. Rafat Al Qadhi, Senior Manager of Customer Relations and Delivery at Global Payment Services. “This achievement further solidifies our longstanding relationship and will bring significant value to BBK’s operations.”

The successful deployment of this system will bring additional value to BBK’s operations, enhancing their ability to protect customer data and streamline digital payment processes. It also reinforces GPS’s position as a leader in developing advanced financial technology solutions tailored to the specific needs of the Middle Eastern market.

This achievement further strengthens the longstanding partnership between BBK and GPS, as the two organizations continue to collaborate on driving payment innovation and excellence in the Kingdom.