BPC Banking Technologies, the leading 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 Tsesnabank.
SmartGuard is one of the range of payment solutions available within BPC's SmartVista suite and monitors 100% of authorization traffic across all channels to detect and prevent fraudulent transactions - stopping fraud before it happens.
Tsesnabank was a BPC SmartVista client already and the addition of SmartGuard to its existing payments infrastructure was achieved quickly and smoothly thanks to SmartVista's sophisticated architecture.
SmartGuard monitors the customer's payment activity by comparing transaction characteristics against a set of defined rules established by the Bank. The solution allows flexible setting and modification of rules to optimize fraud prevention and stay ahead of criminal activity. SmartGuard goes beyond simply tracking fraud by actually declining suspicious transactions. When suspicious activity is detected, Tsesnabank can configure SmartGuard to send customer e-mails or SMS text messages, raise an alert with a call center operator, decline the transaction, or block the card. All these features increase customer trust in their bank and maintain brand reputation.
"SmartGuard is a single solution combining techniques to monitor 100% of transactions across any payment channel. The sophistication and flexibility of the product allows the Bank to quickly adjust its fraud detection capabilities as new types of fraud emerge. We have been enjoying great demand for SmartGuard across all our international markets and are pleased to be adding Tsesnabank to the growing list of satisfied customers," noted Vasily Grigoriev, CEO BPC Banking Technologies.
"Tsesnabank is enjoying an excellent growth record, while demonstrating stability on the financial service market. Using SmartVista, the Bank 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. 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," said Dauren Zhaksybek, Chairman of the Management Board of Tsesnabank.