Posted on May 10, 2011

The ai Corporation, a leading provider of state of the art fraud detection and merchant risk management solutions, 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.”