SmartVista Fraud Risk Management solution will safeguard MCB Bank financial transactions with advanced AI fraud detection capabilities, real-time transaction monitoring, behavioural profiling, and machine learning-based risk assessment.
MCB Bank has partnered with the innovative software provider BPC to enhance its digital security with the AI-powered SmartVista Fraud Risk Management solution.
The flagship BPC solution will enable MCB Bank to mitigate financial risks, prevent fraudulent activities across multiple payment channels, and improve customer trust. Powered by next-generation AI, SmartVista Fraud Risk Management solution offers sophisticated link analysis that studies relationships between transactions, accounts, and entities to uncover complex fraud networks and flags suspicious behavioural patterns that traditional detection methods might easily miss. Besides, SmartVista provides a comprehensive approach to fraud prevention, offering features like 360-degree transaction analysis, real-time alerts, and a flexible rules engine tailored to detect unusual patterns.
The implementation of the advanced security system by MCB Bank goes in accordance with the State Bank of Pakistan’s 2023 directive for all banks to enhance the security of their digital banking products and services. It mandates financial institutions to adopt consolidated and centralized fraud management systems capable of real-time fraud prevention using AI-based machine learning models.
Furthermore, the partnership with BPC aligns with MCB Bank’s commitment to embracing innovative technologies to strengthen security and support the growing demands of digital banking in Pakistan. The security of customers and their financial data is one of the bank’s main priorities. Another important aspect of the bank’s activities is customer experience. With SmartVista, MCB clients can continue to enjoy a secure and seamless banking experience without being pushed away by overzealous fraud prevention techniques.
BPC is a global technology company providing a range of digital payment solutions, banking systems, and financial services. It offers innovative software products and services for financial institutions, payment processors, and governments to enhance transaction efficiency and security, including tools such as payment processing or digital banking platforms, and fraud risk management systems. BPC’s solutions are widely used across sectors like retail banking, transportation, and government, serving clients in over 100 countries.
