Bank of India has selected Worldline India, a subsidiary of Atos, for deploying Fraud Risk Management solution (FRM) for all its card related operations.
The solution provided by Worldline India will include a customised, real time monitoring end-to-end fraud management system spanning the entire chain, from detecting to reaction, preventing by using advanced technology tools for optimised results as well as an expert support team to handle problems.
In addition, the technology will also help the lender monitor transactions that are growing at over 30% per year.
Worldline South Asia and Middle East CEO Deepak Chandnani said: "With new types of fraud being detected and carried out every day, it is no longer sufficient to detect and address them on real time basis.
"Trained and experienced people along with sophisticated data analytics, specialist tools and processes are needed to detect new patterns and proactively address these."