Dubai: Dubai-based information and communication technology (ICT) services provider Smartworld has formed a partnership with Singapore-based TrustSphere to enhance internal risk and governance functions through Relationship Analytics technology.
Smartworld is a joint venture between etisalat and Dubai World Central established in 2008 with a capital of Dh110 million.
Information technology theft continues to be a major threat to businesses and can add huge cost to the company.
According to a Kroll Business Intelligence and Investigations study, more than 60 per cent of business frauds were internal. Experts emphasise on the need for better analysis and strong risk and fraud prevention mechanisms in place for companies.
Ahmed Qurram Baig, senior director for corporate strategy, risk and excellence at Smartworld, said, “TrustSphere’s relationship analytics platform plugs a major blind-spot for organisations in the Middle East. Through this partnership with TrustSphere, our customers can better manage risk, reduce fraud and improve compliance.”
Through this partnership, he said that Smartworld’s customers will gain “unique access” to TrustSphere’s relationship analytics. These analytics improve a corporate investigator’s ability to identify and prevent internal fraud. By understanding communication patterns and flows, real time insights can be delivered to management enabling them to better manage risk and improve compliance.
Manish Goel, CEO of TrustSphere, said, “We are delighted to be partnering with Smartworld who are a true market innovator with an excellent customer base. Working with Smartworld will ensure their customers can enjoy the benefits of our capabilities with the support of an outstanding regionally based managed solutions provider.”
