Emirates NBD wins top honors at Visa Leader Awards show

Emirates NBD, a leading bank in the region, announced that it has been named the Best Issuing Institution in the MENA region by global payments company Visa Inc., based on its strong risk practices and fraud management techniques. R. Sivaram, SVP and cards business head, Emirates NBD, received the award on behalf of the bank at the inaugural Visa Leader Awards ceremony in Bali, Indonesia.
Launched by Visa Inc. at its Security Summit this year, the inaugural Visa Leader Awards recognized 20 financial institutions across Asia Pacific, Central Europe, Middle East and Africa (APCEMEA) for sharing and promoting best practices in risk management.
Emirates NBD won the recognition for the leadership role it has played in promoting and sharing fraud information as well as adopting strong risk practices for cardholders through solutions like Double Secure for e-Commerce and Visa Advanced Authorization.
"We place a lot of emphasis on risk management, and have worked hard over the years to educate our cardholders about fraud and security," said Sivaram. "Advances in technology have allowed us to work efficiently with Visa and put safe practices into action. We are delighted that our efforts in this area have been recognized by the experts at Visa."
The Leader Awards seeks to recognize and honor financial institutions that demonstrate best practices in implementing secure and reliable fraud management infrastructure, and aims to sustain and enhance risk management standards across the financial services industry. The award is divided into two categories — Best Issuing Institution and Best Acquiring Institution.
"The Leader Awards comes at a time when governments across the region are increasing their risk management efforts," said Marcello Baricordi, GM, Visa, UAE.