News from the Wire

African Bank elevates customers' payment security with real-time fraud prevention

Wednesday, August 20, 2025 — 16:35:14 (UTC)

August 19, 2025 – Johannesburg, South Africa, and Vancouver, Canada – African Bank, a leading South African bank that is raising the bar for financial inclusion, has selected INETCO BullzAI from the NCR Atleos Suite of software security solutions to transform its fraud prevention infrastructure and deliver safer, more reliable banking for its customers. This solution introduced by INETCO’s global partner, NCR Atleos, builds on the previously announced collaboration between INETCO and NCR Atleos. NCR Atleos has been providing ATM solutions and services to African Bank for a number of years.

Building the digital trust economy

For the people, by the people and serving the people, African Bank is committed to putting the safety and security of its customers first. The deployment of INETCO BullzAI plays a critical role in African Bank’s digital transformation strategy by enabling real-time fraud prevention and helping to guarantee the seamless integration of new customers from recent acquisitions, including Grindrod Bank, Sasfin and Ubank.

We obsess about delivering the best solutions for our customers and ensure that we focus on their security. This additional layer of fraud prevention allows us to match our digital growth with world class protection. With INETCO BullzAI and NCR Atleos, we’ve shifted from a reactive model to a proactive AI-driven strategy that enables us to detect and block increasingly sophisticated and unknown fraud patterns in real-time, allowing us to meet compliance requirements, prevent fraud before it causes harm and deliver the safest possible banking experience. —DARRYL ADRIAANZEN, GROUP CHIEF OPERATING OFFICER, AFRICAN BANK

Real-time protection against vishing, card fraud, and mule fraud attacks

African Bank’s decision to deploy INETCO BullzAI was driven by the solution’s uniquely powerful payment fraud prevention capabilities, including:

Real-time transaction monitoring with a single view of how each customer transacts across all products and banking channels. This is essential for accurate behavior analysis, eliminating blind spots and quickly flagging suspicious activity. Full access to all transaction message fields, including masked IP addresses and device machine fingerprints, allowing flexible rule creation and broader protection against emerging fraud patterns.

Self-training user and entity behavior machine learning models that update after every transaction and continuously adapt to identify evolving threats without relying on external vendors or data scientists for critical updates.

Patented AI-powered transaction firewall that precisely prevents fraud and cyber-attacks before they complete — without disrupting legitimate transactions — by pre-emptively blocking high-risk terminals or devices at log-in. This includes AI-driven BIN attacks, malware attacks, account takeovers, DDoS attacks, rogue terminals and card fraud.

Seamless ingestion of supporting data sources such as 3D secure data, watchlists, SIM swap data, and KYC information to accelerate detection and resolution of complex fraud cases.

“Every day, millions of customers across Africa face the risk of being defrauded,” said Bijan Sanii, CEO of INETCO, noting that fraud rates in the country soared by more than 300% in 2024. “That’s why fraud prevention strategies must evolve in seconds, not hours or days. With the deployment of the INETCO BullzAI transaction firewall, African Bank is protecting every customer, every moment, by taking a pre-emptive approach in the global fight against payment and mule fraud. We’re proud to partner with them every step of the way as they work to empower the millions of people in South Africa who are unbanked.”

Our goal at NCR Atleos is to deliver secure, reliable access to financial services and help institutions like African Bank scale with confidence. By combining real-time transaction monitoring with AI-powered analytics, this solution supports both operational efficiency and a stronger, more resilient fraud response for the bank.

—ALAN ANDERSON, COUNTRY DIRECTOR OF SOUTH AFRICA, NCR ATLEOS

To learn more about African Bank, visit www.africanbank.co.za.

For more information on INETCO BullzAI, visit www.inetco.com.

About African Bank

African Bank Limited is a Personal and Business & Commercial bank offering a range of financial products and services, serving both private and business customers. The bank has a countrywide branch distribution network and a full digital channel offering, as well as sales, collections, and customer service contact centres. African Bank is a scalable, diversified, and sustainable business focused on its heritage journey of being a bank for the people, by the people, serving the people – with a clear vision and strategy, strong leadership, and an audacious drive to deliver on the promise of its founders.

Visit African Bank on www.africanbank.co.za

About NCR Atleos

NCR Atleos (NYSE: NATL) is a leader in expanding self-service financial access, with industry-leading ATM expertise and experience, unrivalled operational scale including the largest independently-owned ATM network, always-on global services and constant innovation. NCR Atleos improves operational efficiency for financial institutions, drives footfall for retailers and enables digital-first financial self-service experiences for consumers. Atleos was ranked #12 in Newsweek’s prestigious 2025 Top 100 Global Most Loved Workplaces® list. NCR Atleos is headquartered in Atlanta, Ga., with approximately 20,000 employees globally. For more information, visit www.ncratleos.com

About INETCO

Outsmart fraudsters, stay compliant and keep customers safe with INETCO. Monitoring more than 60 billion transactions annually, INETCO is the trusted choice for financial institutions and payment service providers worldwide to deliver the payments reliability and security that all people deserve — every moment, every day. Embrace the power of end-to-end visibility, adaptive modeling and real-time fraud prevention to secure unparalleled confidence in every transaction. www.inetco.com

Media Contacts

NCR Atleos

Scott Sykes

INETCO

Kathleen Reid

media@inetco.com

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Source: Company press release.

Categories: Partnership