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Commercial Bank Of Dubai Launches Positive Pay Solutions To Eliminate Cheque Fraud |
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The Commercial Bank of Dubai, CBD, has announced the launch of 'Positive Pay', one of its newest digital product offerings to ensure the protection of its corporate clients from cheque frauds. Speaking about the new protection, Dr. Bernd van Linder, Chief Executive Officer of CBD, said, "As reported, payment frauds are one of the main concerns we witness today. Fraudulent cheques top the list for the corporations in the UAE. We are pleased to launch Positive Pay solutions for our corporate clients, to protect them from any cheque frauds. CBD’s Positive Pay solution is an answer to eliminate cheque frauds completely, as the workflow at the time of processing automatically detects fraudulent cheques, eliminating any chances of being processed. "Positive Pay solution is CBD’s latest enhancement to its remote cheque printing solution, which allows corporations to protect themselves from any cheque frauds and have full control over their operations. Cheque payments form a large part of payments in the UAE, and through this solution we hope to support and demonstrate our commitment to our corporate clients," said Hassan Al Redha, General Manager - Institutional and Transaction Banking. The implementation of Positive Pay allows CBD to benefit from a full audit trail that captures metadata elements for in-depth research, providing better visibility into account holder data. Additionally, clients can pull reports using a variety of comprehensive fields to access audit trail data. |
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