BPC, a global payments technology provider, has partnered with Malaysia’s Co-opbank Pertama (CBP) to enhance security across its retail and corporate digital banking channels using the AI-driven SmartVista Fraud Management solution.
By leveraging SmartVista Fraud Management, CBP protected its digital offerings and maintained compliance with Bank Negara Malaysia (BNM) regulations while continuing to deliver safe customer-centric services.
In recent years, Malaysia has witnessed a surge in online fraud, prompting BNM to issue stricter directives requiring all licensed banks to adopt high standards of security for digital channels.
The solution
Banking institutions have been mandated to implement additional controls, such as velocity checks to analyse customer behaviour and routine security reviews and advisories. To align with national regulations and introduce modern protections for its customers without compromising operational efficiency, CBP selected BPC SmartVista Fraud Management for its advanced functionality, ML-driven capabilities and future-proof technological platform.
The SmartVista Fraud Management enables banks to perform real-time transaction monitoring as well as near-real and offline validation modes, behavioural profiling functionality, rules-based analysis, comprehensive case management, a notification engine and offers a 360-degree overview of data through numerous customisable dashboards and reports. The project went live in a record time of less than four months.
Leveraging BPC’s next-generation solution, CBP was able to meet BNM mandate for fraud protection while enhancing customer confidence in its mobile and internet services. The bank has reported significant improvements in its fraud detection processes and blocking of suspicious transactions before they occur, resulting in an increase in customer trust.
Working together
Susan Tee, regional head of market development, BPC, said: “This project marks an important step in Malaysian fraud protection initiatives, and we are honoured to help CBP secure its digital channels. At BPC, we provide only future-proven, advanced solutions that help our customers to stay two steps ahead of any modern fraudster and their techniques.”
Zairil Anuar Ahmad, chief technology officer at CBP, also added: “Receiving omnichannel protection for our digital channel marks a significant milestone for CBP. Implementing high-standard preventive measures is both a top priority and a regulatory requirement as Malaysia intensifies efforts to combat fraud. These practices are crucial in building customer trust and ensuring long-term loyalty.
“Through our partnership with BPC and the integration of their advanced fraud management solutions, we have strengthened our defence mechanisms and are now better equipped to deliver a secure, seamless digital banking experience.”
