UAE NBF Deploys Keyno's Online Fraud Prevention Solution

UAE-based National Bank of Fujairah (NBF) has deployed an online fraud prevention solution to improve its operations' cybersecurity and protect customers against fraud.

Entitled 'CVVkey', the fraud prevention tool is a proven solution to online card fraud and, as per press release information, it can be used across all credit and debit cards that have been issued by the bank, and it will mark a key element in NBF's efforts of having its cybersecurity improved and its customers protected from fraud and other online threats. CVVkey is a Keyno product, who developed the first dynamic CVV2 (dCVV2) code technology for online fraud prevention and is provided to card-issuing financial institutions in collaboration with Visa.

When speaking on the announcement NBF officials advised that by having deployed this digital technology, the company aims to address their customers principal concern when carrying out both online and offline transactions. Keyno officials added that CVVkey protects credit and debit cards from unauthorised use, as even if the card has been seen or stolen, only the cardholder can access the CVVkey code on their phone.

(Source: The Paypers)