News

The ai Corporation, today announced the signing of a five year agreement for the provision of their RiskNet Issuer system to the International Bank of Qatar (IBQ), one of Qatar's leading banks.

Ian Hudson, Head of Cards at IBQ said "IBQ is committed to providing its cardholders with safe, secure and reliable card payment services. As part of our strategy to reduce fraud and its impact on our cardholders, we have developed a number of initiatives including the adoption of RiskNet Issuer."

Mark Carter, CEO of The ai Corporation commented "Although the incidence of financial fraud in the Middle East has been traditionally lower than some other regions, it is posing an increasing threat and progressive banks like IBQ are investing in our technology. Our flagship solution RiskNet currently protects more than 50 banks in the Middle East region and we expect this number to increase substantially in the next 12 months. We are delighted to have been selected by IBQ in their fight against fraud and look forward to collaborating with them."

Ian Hudson, Head of Cards at IBQ went on to say "We selected The ai Corporation because of its focus and expertise, they really understand fraud and this is reflected in the sophistication of their products. We were very impressed with functional depth of RiskNet Issuer. RiskNet Issuer also provides many value-added features such as case management that will help IBQ to conduct its business more efficiently."

About International Bank of Qatar (IBQ)

The International Bank of Qatar (IBQ) is a well established and rapidly growing commercial institution, offering a full range of retail, private and corporate banking solutions. IBQ has a strong commitment to build long-lasting relationships with its customers and provide them with excellent customer service with a focus on making banking simple, convenient and tailored to their needs. IBQ is one of the oldest existing banks in Qatar and celebrated its 50th anniversary in 2006. It has a growing network of 14 branches and service centres, and 34 ATMs in strategic locations throughout Qatar.

In June 2009, IBQ was recognised as "the fastest moving bank" in the Middle East and North Africa region and the 26th fastest mover globally in The Banker magazine's Top 1,000 World Bank survey 2009. This commitment to customer relationships and best practice is reflected in the numerous awards won by the bank, including "Best Customer Service" award in 2008, 2009 and 2010 from Banker Middle East Magazine.

IBQ is 30% owned and managed by the National Bank of Kuwait (NBK), the largest bank in Kuwait and the highest rated in the Middle East. IBQ is a growing bank that benefits from an international network as a result of its affiliation with NBK which gives its customers access to greater resources and a wide range of international services.