Saudi Awwal Bank (SAB) has entered into a partnership with Mastercard aimed at providing enhanced access to secure digital transactions for consumers across Saudi Arabia. SAB will harness Mastercard Gateway's advanced Transaction Risk Management technology (TRM) to ensure secure and seamless digital transactions, safeguarding customers against cybercrime and payment fraud. The AI-powered technology of Mastercard Gateway proactively assesses transactions to mitigate financial risks.

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Yasser Al-Barrak, Chief Corporate and Institutional Banking Officer at SAB, expressed the bank's commitment to delivering a secure digital financial environment and the importance of this partnership in bolstering their cybersecurity capabilities.

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As cyber threats continue to rise globally, Mastercard's innovative cybersecurity solutions are combating billions of dollars worth of cyberattacks annually. The strengthened collaboration with Saudi Awwal Bank aligns with the goal of enhancing digital transaction protection in Saudi Arabia, supporting the country's Vision 2030 initiative to foster a thriving digital economy and achieve a 70% cashless society by 2030. Saudi Arabia leads in cybersecurity readiness within the Middle East and North Africa region, as per the Global Cybersecurity Index (GCI).