US-based cybersecurity firm Resecurity has partnered with the Union of Arab Banks (UAB) to enhance cybersecurity capabilities across the Arab banking and financial sectors.
The UAB represents over 330 banking and financial institutions across the Middle East and North Africa (MENA), making it the largest consortium in the region.
It includes central banks, commercial banks, investment banks, financial institutions, and development funds, strengthening collaboration within the Arab banking ecosystem.
The collaboration aims to strengthen the cybersecurity of Arab banks, through advanced cyber threat intelligence solutions and proactive fraud prevention measures.
It will provide UAB member banks with access to Resecurity’s comprehensive suite of cybersecurity solutions, including its Fraud Prevention Platform.
The platform, specifically designed for the financial sector, uses advanced threat intelligence, behavioural analytics, and machine learning to detect and mitigate fraud in real-time.
In addition, the cybersecurity firm will provide access to its threat intelligence platforms, digital risk monitoring capabilities, and advanced cyber threat detection technologies.
The intelligence-driven approach empowers financial institutions to proactively identify, assess, and mitigate cyber risks.
Resecurity CEO Gene Yoo said: “We are honoured to partner with the Union of Arab Banks, a leading institution driving the advancement and security of the Arab financial ecosystem.
“Cybersecurity and fraud prevention have become essential pillars of digital banking and financial services.
“By combining Resecurity’s intelligence-led cybersecurity solutions and dedicated fraud prevention technologies with UAB’s regional leadership, we are confident this partnership will help enhance the security and trust of financial institutions across the Arab world.”
Also, the collaboration will promote enhanced information sharing, joint training initiatives, and cybersecurity capacity-building programmes.
The efforts aim to equip Arab banks with the necessary intelligence and tools to respond proactively to emerging cyber threats and fraudulent schemes.
Union of Arab Banks and the World Union of Arab Bankers secretary general Wissam Fattouh said: “As the digital transformation of the Arab banking sector accelerates, cybersecurity becomes a top priority to safeguard sensitive financial data and maintain the trust of our customers and partners.
Through our collaboration with Resecurity, we are bringing world-class threat intelligence and cybersecurity expertise to the Arab banking community to help mitigate cyber risks and enhance regional cyber resilience.”
