Karachi, 3rd December 2024 — MCB Bank Limited (MCB), a leader in Pakistan’s banking sector, has partnered with BPC, a global frontrunner in payment solutions, to boost its digital security. By implementing BPC’s SmartVista Fraud Risk Management Solution, MCB aims to enhance the protection of its digital banking channels.
The agreement was formalized by Mr. Waqas Mahmood, Chief Compliance Officer at MCB, and Mr. Furrukh Ali Baig, Managing Director for Pakistan at BPC, with senior officials from both organizations present.
In response to the State Bank of Pakistan’s 2023 directive to all banks, which calls for the adoption of a consolidated, centralized fraud management system capable of real-time fraud prevention using AI-based machine learning models, MCB has reaffirmed its commitment to security. The bank’s collaboration with BPC represents a crucial step in delivering innovative financial solutions while ensuring the highest standards of protection for its customers.
The SmartVista Fraud Risk Management Solution, powered by AI, offers a suite of advanced features designed to strengthen MCB’s fraud prevention capabilities. This solution provides real-time monitoring and a comprehensive view of customer transactions across all channels. It enables the detection and immediate response to suspicious activity. SmartVista’s sophisticated link analysis identifies complex fraud networks and behavioral patterns that may evade traditional detection methods. Additionally, the system uses AI/ML-powered models to adapt to emerging fraud patterns, helping MCB stay ahead of evolving threats.
Mr. Shoaib Mumtaz, President and CEO of MCB Bank, emphasized: “The security of our customers and their financial data has always been, and will remain, our top priority. By adopting the SmartVista Fraud Management solution, we are reinforcing our commitment to digital safety and enhancing our banking infrastructure. This cutting-edge technology allows us to detect and prevent fraud in real time, ensuring a secure and seamless banking experience for our customers.”
Mr. Furrukh Ali Baig, Managing Director for BPC Pakistan, remarked: “We are honored to partner with MCB in their mission to strengthen fraud prevention measures. The SmartVista platform, built on advanced AI and machine learning technologies, equips MCB with the tools to protect customers and stay ahead of emerging fraud threats. At BPC, we are dedicated to supporting innovation and aligning with MCB’s objectives to provide secure and innovative digital payment solutions.”
About MCB Bank Limited
MCB Bank is one of Pakistan’s largest and most innovative banks, with over 1,450 branches and ATMs across the country and 11 branches abroad. Serving more than 8 million customers, MCB is a leader in banking and financial services, offering accessible and innovative digital banking solutions globally
About BPC
BPC is an industry leader transforming the world of transactions with fast, secure, and convenient payment processing. Serving over 450 customers across 120 countries, BPC collaborates with ecosystem players to deliver innovative solutions for digital banking, payment processing, fraud management, and financial inclusion. Its SmartVista suite of products powers cutting-edge banking, commerce, and mobility platforms that support today’s consumer lifestyle.
