With digital fraud in South Africa surging by more than 300% in 2024, African Bank has announced a major step forward in protecting its customers. Earlier today, the bank revealed its deployment of INETCO BullzAI, a patented AI-powered fraud prevention solution from Canada-based INETCO, aimed at transforming its fraud infrastructure and safeguarding digital transactions.
This move forms a critical part of African Bank’s digital transformation strategy, especially as it integrates new customers from recent acquisitions, including Grindrod Bank, Sasfin, and Ubank. By implementing BullzAI from the NCR Atleos suite of software security solutions, African Bank is reinforcing its commitment to lead the global fight against fraud while ensuring compliance with regulatory standards.
BullzAI offers a powerful set of features that position African Bank at the forefront of payment security. Its AI-powered transaction firewall blocks fraud attempts — including BIN attacks, malware, account takeovers, and AI-driven bot attacks — before they are completed, without disrupting legitimate transactions. The platform also enables real-time monitoring across all products and channels, leverages machine fingerprints and masked IP addresses for advanced rule creation, and uses self-training machine learning models that evolve with every transaction. Additionally, it integrates seamlessly with supporting data sources such as watchlists, SIM swap data, and KYC information to accelerate fraud detection and resolution.
INETCO’s real-time fraud prevention solutions are already in use across more than 30 countries, with a strong presence in underserved regions such as Latin America, Africa, and the Middle East. Millions of unbanked and underbanked individuals are benefiting from secure, AI-driven banking technologies that extend financial inclusion.
Notably, during Women’s Month, African Bank’s Head of Fraud Operations Management, Kgothatso Mahlangu, has played a leading role in deploying BullzAI. Her efforts highlight the 2025 theme, “Building Resilient Economies for All”, showcasing the pivotal role women play in advancing cybersecurity and empowering communities through safer, more inclusive banking.
//Staff writer