Client Situation

Our client is one of the largest banks in UAE, offering a variety of services across 9 countries globally. The bank has an asset size of around USD 40 billion and operates 35 branches in the UAE. Cedar had engaged with the clients over multiple strategic transformations. In this project the bank had initiated a replacement program for a Fraud Management System to mitigate potential risks in a fast-changing digital banking world.

Cedar’s Approach

Cedar was mandated to review and select a best in class fraud management system for the bank.

  • Performed a current state assessment of the fraud management capabilities within the bank.
  • Finalised the core team involved with the evaluation.
  • Created 400+ high level requirements based on the global best practices.
  • Prioritised the requirements based on the bank priorities.
  • Developed a preliminary shortlist criteria.
  • Issued the RFP to potential suppliers shortlisted based on the preliminary criteria.
  • Facilitated detailed vendor presentations post RFP responses review.
  • Evaluated supplier presentations for further details.
  • Analysed and compiled the Total Cost of Ownership (TCO) for the best fit solution.


Cedar recommended the best options to the client based on the scoring methodology. The results included

  • Evaluated the supplier across all areas
    • Functional capabilities: Analytics, Data Management, Scoring and Decisioning, Alerts and Case Management, Investigation tools, Reporting, Configurability
    • Technical: Architecture, Deployment, development, parameters, Integration scalability, Data Management
    • Supplier: Company, experience, implementation
  • Ranked the suppliers across the 3 areas.
  • Identified positives and negatives across each capability which helped in finalisation of the gap list.
  • Complied the TCOs for the shortlisted suppliers.
  • Provided a best fit recommendation to the management with the necessary information for finalising a supplier for implementation.
  • We made strategy and innovation work.

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