QNB Finansbank provides end-to-end fraud management with SAS analytics solutions

QNB Finansbank stronger with SAS's fraud technologies

QNB Finansbank stronger with SAS Fraud technologies 

Nowadays, 94 million online users in Turkiye actively use digital banking. After the pandemic, money transfers increased fivefold and it is possible to see similar increases in different channels and products. Thanks to digital banking, customer acceptance times are accelerating and loan applications are finalized in seconds. With the widespread use of contactless payments, the volume of transactions is increasing, the variety of products and services offered and the integration between different institutions are also on the rise.

Additionally, with the introduction of Open Banking new stakeholders are emerging in the banking sector. In this structure, managing the data we obtain from different sources has become more important. As the number of customers who perform their banking transactions remotely without going to the branch continues to increase too, it has also become even more critical that these transactions are carried out quickly and securely.

In this case, good technology and human resources are required for effective fraud prevention and fraud management. In line with the above developments, with the increase in the number of transactions and stakeholders, customers are becoming the weakest link against fraud attacks. In this direction, when we look at fraud trends, qualified fraud methods known as theft of customer information, fake sites, malware attacks, and account takeover are on the rise. To mitigate against these risks banks are frequently adopting new technologies. 

SAS Fraud Management also empowers organizations to prevent fraud, enabling banks to make faster, more informed risk-based decisions, while providing enterprise-wide monitoring from a single platform, supporting multiple channels and lines of business. The solution simplifies data integration, combining all internal, external and third-party data to create a better predictive model tailored to the bank's needs. Bringing data together on a single technology platform also provides the flexibility to scale up or down as the business changes and respond faster to new threats as they emerge.

With SAS Fraud Management, QNB Finansbank uses machine learning methods to detect and adapt to changing behavioral patterns, resulting in more effective, robust models and easily detecting anomalies for each customer with core technology components. In-memory processing delivers highly efficient, low latency response times even in high-volume environments, enabling 100% of transactions to be scored in real-time.

SAS provides QNB Finansbank with an entity-level service that can support multiple levels of alerts, enabling the bank to respond instantly to its customers with online alerts and provide additional validation and analysis support according to the bank's needs. Relevant analysts analyze the customer through a single application and help take the right action.

Real-Time Fraud Management

Gökhan Dumrul, QNB Finansbank Security Management Team Leader, states that beyond the basic fraud approach, analytical approaches support the prevention of fraud infiltration more quickly and adds that: "There may be differences in fraud operation and management when compared between Turkiye and globally. With the support of the SAS team in Turliye, necessary arrangements were made for our bank and the project progressed without any problems. We have an alert system structure based on over 300 customer assets. We have achieved a 30-50% improvement in the number of instant notifications. Previously, we had many intermediate structures on the main banking, now we can manage most of these structures through SAS and we can offer more than 20 automated reports and we can quickly increase their number in line with the needs. The implementation process with SAS continues with our work on our card package."

Speaking on the bank’s future plans with SAS, Dumrul says; “When SAS detects the right alerts, it will report the information to Q, the digital intelligence with which we communicate with customers. Q will communicate with the customer just like analysts. If it sees a risk after talking to the customer, it will forward this information to SAS. The security of our customers will be ensured with automated structures on the SAS side."