MCB Bank partners with BPC

Following this announcement, the partnership is expected to strengthen the security of its digital channels by implementing the BPC SmartVista Fraud Risk Management solution. 

In addition, both MCB Bank and BPC will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well. 

More information on the MCB Bank x BPC partnership

In accordance with the State Bank of Pakistan's 2023 directive for all banks and financial institutions to enhance the security of digital banking products and services (which mandates the implementation of consolidated and centralised fraud management systems that are capable of real-time fraud prevention using AI-based ML models), MCB has reaffirmed its commitment to delivering innovative financial solutions while upholding the highest standards of security for its customers through the implementation of the SmartVista Fraud Risk Management service.

The SmartVista Fraud Risk Management Solution represents a secure and efficient AI-powered tool that will provide MCB with a suite of advanced features in order to bolster its fraud prevention capabilities. The service was developed in order to provide real-time monitoring and a comprehensive view of customer transactions across all channels, while also enabling the client to detect and respond to suspicious activities instantly. 

At the same time, its link analyses were designed to examine relationships between transactions, accounts, and entities to uncover complex fraud networks and behavioral patterns that might evade traditional detection methods. The system will allow clients to track fraud based on rules and the statistical profile of users, leveraging artificial intelligence and machine learning models. This will also provide clients with the possibility to continuously adapt to emerging fraud patterns while allowing MCB to stay ahead of new and evolving threats as well.