STRATEGIC PARTNERS
June 25, 2012
BPC Banking Technologies, a provider of open system e-payment solutions for the global financial industry, announces the implementation of its comprehensive fraud monitoring and prevention solution, SmartGuard at Kazakhstan's Tsesnabank.
SmartGuard is a payment solution available within BPC's SmartVista suite; it monitors all authorization traffic across all channels to detect and prevent fraudulent transactions.
SmartGuard works by comparing transaction characteristics against a set of defined rules established by the bank. However, it goes beyond simply tracking fraud, actually declining suspicious transactions.
The solution allows flexible setting and modification of rules. Additionally, it can be configured to send customer emails or text messages, raise an alert with a call center operator, decline the transaction, or block the card, according to BPC.
"SmartGuard is a single solution combining techniques to monitor 100 percent of transactions across any payment channel," said Vasily Grigoriev, CEO of BPC Banking Technologies. "The sophistication and flexibility of the product allows the bank to quickly adjust its fraud detection capabilities as new types of fraud emerge."
" [Tsesnabank] has ambitious plans to widen its range of products and services, including co-branded and multi-application card programs, new payment types and to develop new banking channels," said Dauren Zhaksybek, chairman of the management board of Tsesnabank. "With an increased range of products and channels comes a greater exposure to fraud, hence our decision to improve our payments infrastructure security by licensing SmartGuard. BPC has been a long term partner of the Bank and we are confident that this new solution will enable us to secure our clients accounts."
For more on this topic, visit the transaction processing research center.
