BPC Banking Technologies: Creating the Digital Ecosystems for Banks

Maxim Kuzin

Head of Fraud Prevention

“At BPC, we work by our motto “bridging real life to digital” as we create digital ecosystems that bring together banks, processors, and fintechs in order to deliver relevant services to customer so they can then fulfil their day-to-day financial needs”

For a long time, businesses, especially in the banking sector have been suffering from the lack of well performing fraud management systems. Financial fraud within this digital era are constantly increasing therefore, risk and fraud management becomes a very key aspect for financial institutions and customers. This is where BPC is creating a difference. “At BPC, we work by our motto “bridging real life to digital” as we create digital ecosystems that bring together banks, processors, and fintechs in order to deliver relevant services to customer so they can then fulfil their day-to-day financial needs,” beings Maxim Kuzin, Head of Fraud Prevention, BPC.

As risks in digital era are increasing, risk and fraud management becomes one of the key aspects for financial institutions and customers. An innovative offering from BPC, the SmartVista Fraud Management Suite aims to provide high-end financial technology to banks and other financial institutions. SmartVista Fraud Management (SVFM) is a platform not just fraud and risk management, but also for customer profiling, marketplaces and direct marketing. BPC also has a dedicated team who are always eager to help and support. “Our fraud solution has managed to provide the right path to institutions that were looking to enhance the processing of online real-time transactions and performance. We see massive potential in those areas and consider SVFM as the nature component of BPC ecosystems that we create all over the world,” extols Kuzin.

BPC’s SmartVista Fraud Management solution provides real time transaction monitoring and allows performing behavior profiling on any level – channel, customer, account, device, card, merchant etc., as well as score transactions against machine learning models. It also offers an enterprise-wide multichannel and omni-channel fraud monitoring for all types of payment methods.  While it simultaneously interfaces with multiple systems including card, instant payment and merchant management, the analytics toll offers a robust business-driven rules engine for transaction scoring and applies behavior profiling and machine learning techniques for fraud analytics and modelling. Whenever transactions are identified as fraudulent, the system operator can use the enterprise fraud management capability to handle these fraud cases. Thanks to the highly intuitive dashboard that gives the operator real-time insight into key statistics.

The SmartVista Fraud Management solution also supports alert generation through multiple channels, including SMS or email or PUSH notifications. In case of risky behavior detected, the platform can instantly challenge a customer and request for additional authentication to validate a transaction. “Our advanced analytics, behavior profiling, machine learning, rules and list checks allow to perform thorough analysis and stop fraud instantly,” explains Kuzin.

The company’s platform for fraud and risk management consists of a flexible data model in which new transaction parameters can be configured. The interfaces with external systems are setup via UI and are highly configurable. The rules, lists, behavior profiles, and case management parameters can be managed by the end user. Meanwhile, the platform’s machine learning models are used for transaction scoring and datasets that are fully managed by customer. The solution also provides case management as part of the solution along with omni-channel capabilities with customization options (look & feel) via UI.

Since its inception, BPC has been one of the leading providers of cutting edge solutions for the payment industry. An instance that portray the company’s value proposition is when they assisted A major Bulgarian bank  that was looking for the right partner that could assist them in tackling the threats of financial fraud. Since using the SmartVista Fraud Management system, bank has prevented many attacks, protecting both customers’ accounts and the bank’s reputation. The SVFM applied more than 150 rules helping the bank reject more than 4,000 identified fraudulent transactions within first few months. With 99.9999% accuracy, the system blocked fraudulent operations. The flexibility of the system, powered by machine-learning algorithms, increased the accuracy of detection, and improved the bank’s safety fourfold within six months. Moreover, SVFM allowed to uncover more than 600 fraudulent merchants who were disrupting financial activities. Since the discovery, the bank has reported an average savings of 3 million euros of open-to-buy limit in total.

Today, BPC’s roadmap includes offering risk and fraud management solutions that not only cover current needs, but a highly scalable tech-stack that is extendable and configurable in nature to address future needs. The company’s plans include expansion to new countries and strengthen presence and depth in settled geographies, as well as making its products the best globally. With revolutionary changes within the digital era, BPC will continue to provide solutions for current and future payment needs.