Samba Bank, a subsidiary of Saudi National Bank, has launched an optimised fraud detection system with AI/ML-enabled BPC’s SmartVista Fraud Management.
Through this, Samba Bank was able to finalise the second phase of its end-to-end digital banking transformation and meet the requirements of the State Bank of Pakistan’s BPRD Circular No. 04 of 2023. As Pakistan witnesses a significant increase in card-not-present and mobile app fraud, the State Bank of Pakistan decided further to strengthen its oversight with its Digital Fraud Prevention Policy. The initiative requires every licensed bank to publish a customer-focused fraud prevention strategy, promote a risk control culture across teams, processes, and technology, and establish a fraud risk unit under board-level supervision.
Meeting compliance requirements and safeguarding customers
As Samba Bank’s transaction volumes continued to rise and the need to meet these obligations arose, the financial institution selected BPC’s SmartVista Fraud Management to protect its customers while ensuring compliance. BPC supported Samba Bank by improving its channels’ security through its solution, paired with risk-based authentication.
With the platform’s integration layer, the upgraded stack currently offers cards and digital channels in a single real-time framework, routing digital transactions through adaptive machine learning rule scoring, profile maintenance, biometric checks, and instant alerts. This is achieved without any interruptions to routine banking services. Additionally, the bank’s staff benefits from a fraud operator console that provides them with real-time insights into biometric device status and related digital fraud cases, in turn delivering continuous monitoring.
Furthermore, with this move, Samba Bank’s customers receive simplified biometrics across web and mobile for optimal onboarding, device changes, and profile and demographic updates. Also, BPC launched a QR redirection mechanism, enabling customers to scan QR codes displayed on Internet Banking through the mobile app to finalise biometric verification for Internet Banking access.
Now live, SmartVista Fraud Management supports BPC and Samba Bank in continuing to improve detection logic and launching multiple scoring functionalities to solidify protection further.
