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Rethinking Fraud Prevention in the Middle East & Africa

Written by provenirmulti on June 18, 2025. Posted in Webinars. No Comments on Rethinking Fraud Prevention in the Middle East & Africa

On-Demand Webinar

Rethinking Fraud Prevention in the Middle East & Africa

Fraud is accelerating across the Middle East & Africa, with $4B lost annually in banking fraud and 1 in 4 digital banking customers experiencing fraud attempts. Telecom operators in the region are also facing rising losses as fraudsters exploit gaps in traditional prevention methods.

Traditional fraud prevention systems—often reliant on static rules and siloed data—are no longer sufficient.

To combat this escalating threat, banks and telcos in MEA must embrace real-time, AI-driven risk decisioning and a holistic fraud strategy that integrates behavioural analytics, network intelligence, and collaborative data ecosystems. The time to act is now: as digital adoption accelerates, so too must innovation in fraud prevention.

Listen to this webinar to learn:

Why static rules aren’t enough and how AI-driven fraud prevention adapts in real-time. The role of real-time data orchestration in creating a 360-degree risk view.
How machine learning is transforming fraud prevention by predicting and blocking threats.
Why an integrated fraud and risk decisioning platform is key to stopping emerging threats.

Moderator

Sophia Qureshi

Provenir

VP, Product Management, Fraud Solutions

Panelists

Msimisi Fakudze
Senior Manager, Fraud Management
David Vigar
Telesign
VP Sales
Frédéric Dubout
Provenir
Principal Consultant

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Customer Story: Femsa

Written by provenirmulti on June 16, 2025. Posted in Customer Story.

Spin, FEMSA’s digital business unit launched in 2024, is focused on delivering accessible financial and digital solutions throughout Mexico. The platform has experienced rapid growth, reaching 7.6 million users, It currently processes an average of 36.2 million transactions per month.

Its loyalty program, Spin Premia, has also expanded significantly, with 32.7 million users and 48.3% active engagement.

This year, Spin aims to obtain a banking license in Mexico, a key milestone that will enable it to operate as a bank and further expand its financial services offering.

Industry
Region
Countries
Mexico
Line of Business
Solution

Module
Infrastructure
ROI
Competition

Customer Timeline

Land MRR: $26.5K
Land PS: $74.6K
Expand MRR:

$7.2K SS | ~$20K Fraud | ~$20K Hyper-personalization & Financial Inclusion, Delinquency Risk Predictions
Expand PS:$60K, $200K

Opportunity Created
19th December 2022
Opportunity Won
30th June 2023
Go-Live
15th Dec 2024
Friends & Family Go-Live
15th August 2025
Full Go-Live
Customer Expansion
- In Progress:
  Customer Management: Collections
- Support Subscription
- Application Fraud:
  Decisioning
- Initial Discussions
  Future:
  DS – Hyper personalization

Initial Opportunity Details

Customer Challenge
FEMSA Spin, currently a digital wallet, needed a scalable, secure decisioning platform to streamline digital onboarding and manage credit portfolios in real-time and batch – starting with individuals and expanding to SMEs once authorized to operate as a bank.
As they transition into a regulated financial institution, they required seamless integration with internal and external data, fast model deployment, and certified security standards. Provenir was selected to support this evolution and enable scalable, data-driven decisioning across their growing financial services.
Provenir Impact
- A Single & Scalable Platform
  Provenir provides Spin by Oxxo with a single, scalable platform that streamlines customer acquisition, strengthens risk and fraud defenses, and delivers significant operational savings. It also future-proofs their growth by ensuring seamless scalability and market adaptability.
- Faster Time to Market & Value
  The Provenir Platform empowers Femsa Spin to achieve a significantly Faster Time to Market & Value for its financial products and services, they can rapidly configure, test, and deploy new offerings, swiftly responding to market demands and competitive pressures.
- Ensuring Compliance
  The Provenir Platform is critical for Femsa Spin in ensuring robust Compliance & Regulations, especially as they secure a license to operate as a bank in the near future. Provenir provides the necessary auditability, transparency, and configurability to adapt to evolving regulatory requirements, including stringent banking standards.

Competitors
Experian, FICO & In-House
Why We Won
- Strong Relationships: We cultivated a robust relationship with the client well in advance of the RPF/RFI process, establishing trust and understanding
- Flexible Pricing: Our team developed a highly creative and flexible pricing model that effectively accommodated all customer requirements
- Scalability: Our solution offers inherent scalability, ensuring it can grow seamlessly with the client’s evolving needs.
- Comprehensive Functionality: We provide a fully functional SaaS solution that meets and exceeds expectations.
Pain Points
- Limited Platform Flexibility: The current platform suffers from a significant lack of adaptability, hindering operations and innovation
- Slow Time to Market/Value: Delays in bringing products or services to market and realizing their value are a critical concern.
- Integration Challenges: Difficulty establishing seamless connections with both third-party and internal systems creates operational silos.
- Scalability Limitations: The existing infrastructure lacks the necessary scalability to support growth and future demands.
- Excessive Dependence on Internal IT: There’s an unhealthily high reliance on internal IT resources, leading to potential bottlenecks and increased operational costs

Customer Growth

Growth Opportunities

Application Fraud: Decisioning
Initial conversations

Spin has initiated early discussions with the Sales Team to evaluate the implementation of Application Fraud solution. The focus is on identifying how the platform can strengthen fraud detection capabilities, streamline decision-making processes, and support scalable, data-driven risk strategies. This collaboration represents an important step in enhancing Spin’s fraud prevention framework while aligning with its goals of innovation, efficiency, and long-term value.

Data Science Services Engagement
Initial Conversations

Spin has initiated discussions with our Sales team to explore a Hyper personalization Data Science Services engagement. As Spin prepares to operate as a bank, this initiative aims to support tailored decisioning across a broader product portfolio. The collaboration reflects a shared focus on scalable, data-driven solutions to drive growth and innovation.

Expansion

Support Subscription

Anticipating the rapid expansion of Spin’s operations and customer base, the dedicated sales and Professional Services (PS) teams proactively collaborated. They strategically addressed the escalating need for robust support by introducing a support subscription model. This forward-thinking solution ensures that Spin will have ample, consistent resources to effectively manage both their current operational demands and seamlessly scale to meet all future customer and technical requirements, minimizing potential disruptions and maximizing continuous service delivery

Customer Management Collections

As part of Spin’s current contract, we are actively engaging with the team to plan the next phase. Once the full implementation is complete and Spin begins offering credit products later this year, we anticipate initiating the rollout of the collection’s solution

OTHER CUSTOMER STORIES

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Beyond the Selfie: Why Digital ID&V Isn’t the Silver Bullet for Modern Fraud

Written by Jason Abbott on June 16, 2025. Posted in Blog.

Beyond the Selfie:
Why Digital ID&V Isn’t the Silver Bullet for Modern Fraud

In our increasingly digital world, the promise of seamless customer onboarding and instant identity verification (ID&V) has led to the widespread adoption of digital document capture and selfie verification solutions. These technologies, often lauded for their speed and convenience, have undoubtedly revolutionized how businesses interact with their customers, enabling rapid scaling and a vastly improved user experience.

However, as a Fraud Solutions Director, my perspective is clear: digital ID&V, while foundational, is not the silver bullet for combating the sophisticated fraud threats of today.

The belief that a perfect document scan and a convincing liveness check are all that’s needed to secure an identity is a dangerous oversimplification. While these tools excel at verifying the apparent authenticity of a document and the presence of a live individual, they often fall short in detecting the more insidious forms of fraud that are costing businesses billions annually.

The Cracks in the Digital ID&V Facade
Why isn’t doc capture and selfie verification enough?

The Proliferation of Deepfakes and AI-Generated Identities:
Criminals now have readily accessible AI tools that can create incredibly realistic looking documents – from driver’s licenses to passports – in mere seconds. These tools can also generate convincing deepfake videos and images that can bypass basic liveness detection checks. What’s more, when criminals impersonate victims and add their face to a realistic false document, the initial verification step becomes void, as their face will match the fabricated ID, and they can successfully complete any liveness challenge. Relying solely on a visual assessment, whether human or automated, is becoming increasingly risky as the quality of these fraudulent artifacts improves exponentially.
Rampant Data Breaches Fueling Identity Fraud:
Data breaches are a relentless problem, constantly exposing vast quantities of personal identifiable information (PII). This exposure puts consumers at a significantly higher risk of identity fraud. Fraudsters are incredibly skilled at piecing together this compromised data with fabricated details to construct highly plausible synthetic identities, or to facilitate impersonation identity fraud by using real PII with false documents. A single digital ID&V check, which primarily focuses on the visual appearance of a document and a liveness test, is simply ill-equipped to uncover these sophisticated, blended identities that originate from breached data.
The “One-and-Done” Pitfall:
Identity verification is often treated as a one-time event at onboarding. But an individual’s risk profile, or even the integrity of their account, can change dramatically over time. If a solution only focuses on the initial application, it leaves a wide open door for account takeovers or mule activity once the initial check is complete.
Lack of Contextual Intelligence:
Digital ID&V tools are designed to evaluate the document and the selfie in isolation. They don’t inherently connect these data points to a broader network of intelligence – behavioral patterns, device forensics, or historical fraud insights across disparate data sources.

The Imperative:
Catching Those Who Slip the Net

The reality is that a significant number of fraudsters will slip through a purely digital ID&V net. These are the perpetrators behind synthetic identity fraud, sophisticated application fraud, payment fraud, and the initial stages of account takeovers. They often operate in fraud rings, coordinating attacks that individually might appear benign but collectively indicate systemic compromise. The costs associated with these undetected threats are staggering, leading to direct financial losses, reputational damage, increased operational expenses, and an erosion of trust.

This is where a robust, multi-layered fraud prevention strategy becomes not just beneficial, but absolutely critical. It’s about moving beyond simply verifying a document and a face, to understanding the context of the identity, the intent behind the application, and the broader network of activity that might indicate a fraud ring at work.

Building a Fortified Defense

A truly robust solution needs to bridge the gap left by primary digital ID&V checks by providing crucial layers of defense for comprehensive fraud detection and prevention.

Here’s how a comprehensive solution often operates:

Intelligent Data Orchestration:
The first step to catching sophisticated fraud, including fraud rings, is having all the relevant information. A powerful platform seamlessly integrates diverse data sources – beyond just ID&V vendors – including alternative data, traditional credit data, behavioral data, device intelligence, and internal customer history. This holistic view provides the context necessary to spot anomalies and uncover interconnected fraudulent activities.
Advanced Machine Learning Models:
Leveraging this enriched dataset, effective machine learning models are continuously learning and adapting to identify subtle patterns in application data, monitor transaction behavior, and detect suspicious patterns across various fraud types – including the elusive synthetic identity fraud, complex account takeovers, and emergent payment fraud schemes. These ML capabilities are specifically designed to identify anomalies and linkages indicative of fraud rings.
Real-Time Decisioning:
Fraud doesn’t wait, and neither should your detection. A strong platform enables real-time decisioning, allowing businesses to instantly assess risk, approve legitimate applications, or flag suspicious ones for further review, all within milliseconds. This speed is crucial for maintaining a frictionless customer experience while mitigating risk.
Customer Profiling and Analytics:
Beyond the initial check, a comprehensive approach helps build rich customer profiles by consolidating data over time. Analytics tools provide the capabilities to track individual and network behaviors, empowering fraud teams to quickly identify connections and make informed decisions.
Flexible Decision Engines:
The threat landscape is dynamic. A platform’s flexible decision engine should allow businesses to rapidly adjust rules, strategies, and workflows without requiring extensive coding, ensuring they can adapt to new fraud patterns as soon as they emerge.

The Future of Fraud Prevention:
Comprehensive, Not Complacent

Digital ID&V with document capture and selfie verification has its place as an essential first line of defense, offering invaluable speed and convenience. However, in the face of increasingly cunning fraudsters, the proliferation of deepfakes, the continuous threat of data breaches, and the coordinated efforts of fraud rings, relying solely on these methods is akin to leaving the back door open.

The true silver bullet is not a single technology, but a comprehensive, adaptive, and intelligent fraud prevention approach. By integrating diverse data, leveraging advanced machine learning, and enabling real-time, informed decisioning, businesses can build a truly robust defense that catches those who attempt to slip the net, safeguarding their assets and fostering trust in the digital economy.

Reduce friction and prevent fraud losses.

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Empowering Digital Finance Through AI-Powered Risk Decisioning

Written by provenirmulti on May 26, 2025. Posted in Event. No Comments on Empowering Digital Finance Through AI-Powered Risk Decisioning

Join Provenir at The Digital Banker’s premier event in Kuala Lumpur

AI, Cloud & Cybersecurity Congress 2025

Part of South East Asia Tour – Malaysia

17th June 2025
Main Stage
Mandarin Oriental Kuala Lumpur, Malaysia

We’re proud to be part of The Digital Banker’s South East Asia Tour – Malaysia, a flagship gathering of financial services leaders shaping the future of digital banking and innovation in the region.

Join Provenir as we lead discussions on how AI and real-time decisioning are transforming the customer lifecycle—from identity verification and onboarding to fraud prevention and regulatory compliance.

Whether you’re a traditional bank navigating digital transformation or a fintech scaling smarter decisions, we’re here to help you build trust, drive efficiency, and accelerate innovation.

Don’t Miss Our Panel Discussion

Digital Identity & Authentication – Building Trust in Malaysia’s Digital Banking Ecosystem

Moderator

Kavines Karthigasan

Provenir

Panelists

Manpreet Singh
Senior Managing Director and Group Head, Customer Experience Management
CIMB
Kashif Ibad Khan
Executive Director & Head, Corporate & Investment Banking Technology Service Management & PIC
Standard Chartered
Kalyani Nair
Group Chief Digital Officer
Maybank
Shankar Krishnan
Chief Technology Officer
Boost Bank

Book a Meeting with Our Experts

Want a one-on-one conversation? Reserve a dedicated time with the Provenir team to explore how we can support your digital transformation.

Explore how Provenir’s unified, low-code platform enables:

Real-time credit and risk decisioning
Integrated identity verification
AI-driven fraud and compliance automation
Seamless orchestration across the customer lifecycle