Recently, Samba Bank, a subsidiary of Saudi National Bank, has implemented an advanced fraud detection system utilizing AI and ML technologies provided by BPC’s SmartVista Fraud Management. This initiative marks the completion of the second phase in their comprehensive digital banking transformation.

Maintaining Compliance with State Standards

Following Pakistan’s rise in card-not-present and mobile app-related fraud, the State Bank of Pakistan enacted a Digital Fraud Prevention Policy to reinforce its regulatory stance. This policy mandates that all licensed banks develop customer-centric fraud prevention strategies, establish robust risk management practices, and set up dedicated fraud units under board-level supervision.

Enhanced Security and Compliance Solutions

To address the increased transaction volumes and compliance demands, Samba Bank opted for BPC’s SmartVista Fraud Management. This solution has helped improve security across various channels while maintaining compliance through risk-based authentication measures.

The integration of SmartVista Fraud Management has unified card and digital transactions into a real-time framework, employing adaptive machine learning to assess risks dynamically. This approach ensures that digital transactions are processed securely without disrupting normal banking operations. Moreover, the solution offers comprehensive real-time monitoring tools for bank staff via a fraud operator console.

Optimized Customer Experience

BPC’s implementation has simplified biometric processes for Samba Bank’s customers across web and mobile platforms, facilitating smoother onboarding procedures, device changes, and updates to profiles and demographic information. Additionally, the introduction of QR code scanning in Internet Banking through the mobile app enhances customer verification.

Currently operational, SmartVista Fraud Management continues to refine its detection methods and introduce scoring functionalities to bolster protection further.