CA Technologies Powers Emirates NBD’s E-commerce Initiative
May 02 2018 - 9:30AM
Business Wire
Comprehensive Payment Security Solution Reduces
Online Cart Abandonment to 2 Percent vs. 76 Percent Regional
Average1
CA Technologies (NASDAQ:CA) today announced the support and
enablement of Emirates NBD’s successful initiative to boost
customers’ e-commerce activity – and fuel industry growth – by
using CA Payment Security Suite. Emirates NBD, a leading bank in
the United Arab Emirates (UAE), has greatly reduced fraud,
increased the speed of purchases, improved the customer experience
and consistently grown its cardholder base year-over-year, which
has contributed to the growth of the region’s online economy.
E-commerce is among the fastest growing industries in the UAE
today. Looking to establish itself as a leader in providing secure
payments for its customers, Emirates NBD chose CA Payment Security
Suite, an innovative solution that evaluates the risk of e-commerce
transactions through advanced predictive models, providing
customers with effective risk-based authentication. Using the CA
solution, the bank was able to accurately and consistently discern
legitimate transactions from fraudulent ones – in real time – while
improving the digital shopping experience for consumers.
Encompassing a flexible and user friendly 3-D secure program, CA
Payment Security Suite:
- Helped Emirates NBD reduce its
challenge rate from 100 percent to 30 percent within months,
minimize cardholders’ static password requests for online
transactions and lower the cart abandonment rate to just 2 percent,
down from the regional average of 76 percent.
- Allowed Emirates NBD to leverage CA’s
predictive models, which employ Artificial Intelligence (AI) and
machine learning to assess risk levels with a given transaction,
improving the proportion of successfully authenticated transactions
to 97 percent.
- Leverages CA’s neural network models,
which use more than 50,000 different types of data – combined with
deep data science and analytics processes – to more easily identify
users and prevent fraudulent transactions.
“Not only are we seeing fast growth in the use of credit cards,
but debit cards as well. This shows that customers are growing
increasingly comfortable and confident in the security of online
transactions,” said Suvo Sarkar, senior executive vice president
and group head, Retail Banking and Wealth Management at Emirates
NBD. “As e-commerce gains further momentum in the region, with CA
and Network International as our trusted partners, we can
anticipate and address the changing needs required to adapt and
thrive in the new digital economy.”
The UAE has one of the highest numbers of physical retail shops
per capita in the world and, as a result, was slower in its move
toward e-commerce compared to other countries. Recognizing the
increasing usage of mobile and other connected devices, and boosted
by government initiatives, Emirates NBD developed a multi-year plan
with CA Technologies and leading international payment solutions
provider, Network International that would ease consumer discomfort
for online payments while also aggressively safeguarding credit and
debit card data.
“A shopping paradise can quickly become a retail nightmare as a
result of online fraud. CA Payment Security Suite delivers the
industry’s most advanced, comprehensive neural network models,
backed by data science and behavioral analytics to help keep
consumers safe,” said Terrence Clark, general manager of Payment
Security at CA Technologies. “Leveraging the CA solution, Emirates
NBD can adopt key tenets of the modern software factory to deliver
a frictionless customer experience, while providing the utmost
level of security. Not only are they utilizing customer insights to
evolve their business, they are also using security as a
differentiator to instill consumer trust and confidence in online
retail transactions.”
Samer Soliman, Managing Director for the Middle East at Network
International added, “As the region’s largest payment enabler, we
remain committed to bringing global best practice to the local
payments industry. We are delighted to support Emirates NBD and CA
Technologies in enhancing the security and ease of conducting
e-commerce transactions in the country.”
For more on Emirates NBD’s use of CA’s solution, please click
here. To learn more about CA’s solutions for Payment Security,
please visit www.ca.com/us/products/payment-security.html.
About CA Technologies
CA Technologies (NASDAQ:CA) creates software that fuels
transformation for companies and enables them to seize the
opportunities of the application economy. Software is at the heart
of every business in every industry. From planning, to development,
to management and security, CA is working with companies worldwide
to change the way we live, transact, and communicate – across
mobile, private and public cloud, distributed and mainframe
environments. Learn more at www.ca.com.
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Copyright © 2018 CA, Inc. All Rights Reserved. All trademarks,
trade names, service marks, and logos referenced herein belong to
their respective companies. Some information in this document is
based upon CA or customer experiences with the referenced software
product in a variety of development and customer environments. Past
performance of the software product in such development and
customer environments is not indicative of the future performance
of such software product in identical, similar or different
environments.
1 SaleCycle Blog [SaleCycle]. (2016, July 18). [Infographic] The
Remarketing Report – Q2 2016. Retrieved from
https://blog.salecycle.com/stats/infographic-the-remarketing-report-q2-2016/
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version on businesswire.com: https://www.businesswire.com/news/home/20180502005115/en/
PressCA TechnologiesJennifer Miu,
+1-650-534-9318jennifer.miu@ca.com
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