Co-opbank Pertama uplifted its fraud prevention for digital channels with advanced BPC SmartVista Fraud Management

Co-opbank Pertama (CBP) has partnered with BPC, a global leader in payment solutions, to secure its retail and corporate mobile and internet banking channels. By leveraging SmartVista Fraud Management, an ML-powered next-generation solution, CBP protected its digital offerings and maintained compliance with Bank Negara Malaysia (BNM) regulations while continued to deliver safe customer-centric services.

 In recent years, Malaysia has witnessed a surge in online fraud prompting BNM to issue more stricter directives requiring all licensed banks to adopt high standards of security for digital channels. Banking institutions have been mandated to implement additional controls such as velocity checks to analyze customer behavior and to conduct routine security reviews and advisories. To align with national regulations and introduce modern protection 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.

BPC introduced SmartVista Fraud Management solution integrating it with CBP’s core services to provide advanced protection across retail mobile banking, internet banking and corporate internet banking. The SmartVista Fraud Management allows bank to perform real-time transaction monitoring as well as near-real and offline validation modes, behavioural profiling functionality, rules-based analysis, comprehensive case management, notification engine and offered a 360-degree overview of data through numerous customisable dashboards and reports. The project went live in the record less than four month time.

As a game-changing feature for CBP, a machine-learning module was introduced to leverage historical fraudulent data and continuously refine detection mechanisms, adding precision to the bank’s defenses. For the best adoption and usage of the solution, BPC provided training services to help CBP’s team fully leverage the system’s capabilities. 

Leveraging 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 improvement in its fraud detection processes and blocking of suspicious transactions before those occurred, resulting in customer trust increase and number of operations.

Susan Tee, Regional Head of Market Development, BPC, stated: “This project marks an important step in Malaysian fraud protection initiatives, and we are honored 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, commented: “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 defense mechanisms and are now better equipped to deliver a secure, seamless digital banking experience.”