IBM and partner Seatech apply the IBM® Safer Payments platform to support OCB in monitoring, preventing and managing fraudulent behaviors in the bank's digital multi-channel banking operations.

IBM Safer Payment provides real-time risk and fraud prevention capabilities. This solution is deployed by IBM Technology Group at many large banking organizations around the world. With this activity, OCB aims to commit to being a proactive and pioneering unit in applying modern technology to risk management activities.

The platform helps banks detect, prevent, and mitigate fraud proactively with a user-friendly, customizable interface to meet the constantly changing fraud situations in the market. Specifically, the platform uses machine learning and artificial intelligence to analyze fraud behavior and patterns, allowing banks to prevent fraudulent activities before they occur, while ensuring that accurate customer transactions are not stopped due to errors.

In addition, this platform also helps OCB build and apply models to prevent emerging fraud threats, thereby proposing effective response solutions.

Mr. Nguyen Dinh Tung - General Director of OCB said that the trend of fraud in banking activities in the world as well as in Vietnam is increasing with a complex trend. The application of technology platforms in product and service development by banks is necessary to ensure the interests of customers and banks.

With OCB, in addition to protecting users and providing optimal and safe experiences when using products and services, the bank also complies with the State Bank's regulations on transaction monitoring and fraud prevention.

“ I believe that focusing on technology investment in fraud detection and prevention will help OCB become one of the top banks operating sustainably and effectively among joint stock commercial banks, ” Mr. Nguyen Dinh Tung shared.

IBM has experience in successfully deploying Fraud management systems at many banks in Australia, New Zealand, and Europe. As OCB's partner this time, IBM hopes to successfully deploy Safer Payments with Seatech, thereby helping banks adapt to new threats faster and detect fraud with greater speed and accuracy, without depending on vendors or data experts.

Mr. Nguyen Tuan Khang, Director of Software Division, IBM Vietnam said: “ We are confident in cooperating with OCB bank to deploy IBM Safer Payments to help the bank adapt to new threats faster to detect fraud in real time with higher accuracy without depending on solution providers or data experts”.

“With a comprehensive suite of fraud prevention and detection solutions designed to protect banks and their customers from the growing risk of fraud in today’s digital payments landscape, OCB can put risk management first without sacrificing customer experience ,” added Mr. Khang.

In recent times, OCB has prioritized investment and application of advanced technology in risk management. In 2018, OCB completed risk management items according to Basel II international standards. By 2022, this bank will continue to be among the leading banks in implementing Basel III.

On April 12, the bank also announced the completion of the deployment and application of the cloud computing capital calculation platform according to advanced Basel II (internal approach - IRB), becoming the first bank in Vietnam to complete all advanced requirements of Basel in international risk management standards.

Bao Anh