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 ensuring that we focus on their security. This additional layer of fraud prevention allows us to match our digital growth with world-class protection,” said Darryl Adriaanzen, Group Chief Operating Officer at African Bank. “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.”
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 behaviour analysis, eliminating blind spots and quickly flagging suspicious activity.
- Full access to all transaction message fields, including masked IP addresses and device machine fingerprints, allows for flexible rule creation and broader protection against emerging fraud patterns.
- Self-training user and entity behaviour 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,” explained Alan Anderson, country director of South Africa for NCR Atleos. “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.”
