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June Monthly Special 2024

BANKiQ: Empowering Financial Institutions with Preventive Risk Management Solutions, Offering the Best Defense against Modern Financial Crimes

BANKiQ: Empowering Financial Institutions with Preventive Risk Management Solutions, Offering the Best Defense against Modern Financial Crimes

BANKiQ offer a comprehensive suite of risk coverage services tailored to meet the evolving needs of the banking and financial services industry. From customer onboarding to login and payments, BANKiQ™ provides end-to-end real-time transaction monitoring and fraud risk solutions, ensuring exceptional digital payments experiences for issuers, acquirers, payment aggregators (PAs), payment service providers (PSPs), and hybrid FinTech companies.

As a fully integrated platform, BANKiQ serves as a single solution for various critical functions, including real-time payments transaction monitoring, suspicious transaction report (STR) filing, customer onboarding risk scoring, and issuer/acquirer-specific fraud management. By seamlessly mapping across the fraud, risk, and compliance landscape, BANKiQ offers a unified approach to sanctions screening, anti-money laundering (AML) financial intelligence unit (FIU) reporting, onboarding risk assessment, and comprehensive fraud mitigation strategies.

For issuers and merchant acquirers, BANKiQ provides swift risk assessment for both single and cross-channel transactions in real-time. With preconfigured fraud rules and scenarios, transactions are automatically scored and handled, with additional authentication steps if necessary. Furthermore, regulatory filings are readily available out-of-the-box, simplifying compliance processes for financial institutions.

BANKiQ stands out with its capability to enable true real-time analytics, leveraging real-time data to drive actionable insights and immediate responses to emerging events. At the core of BANKiQ Solutions lies a commitment to advancing the science and technology of fully autonomous cognitive applications.

Risk Management Solutions for the Financial Sector: An Overview of BANKiQ™ Services

In the dynamic realm of banking and financial services, the demand for real-time and preventive risk management solutions has become increasingly paramount. BANKiQ™ stands at the forefront, offering leading-edge risk management solutions powered by fast data and machine learning, providing a formidable defense against evolving financial crimes. Targeted at banks, financial institutions, and payment solution partners, BANKiQ™ aims to safeguard these entities from potential fraud, misuse, and abuse, thereby ensuring the integrity of global financial systems.

Comprehensive Risk Management Solutions

The core of BANKiQ™'s offerings revolves around its comprehensive risk management solutions, tailored to meet the complex needs of the financial industry. By combining behavior profiling and transaction risk scoring, BANKiQ™ delivers a holistic detection and response system designed to thwart fraudulent activities effectively. Whether through automated step-up responses or guided interventions, BANKiQ™ ensures proactive fraud detection while preserving the seamless customer experience, thereby fostering trust and loyalty among users.

Seamless Integration and Real-time Fraud Prevention

BANKiQ™'s microservices-based architecture allows for seamless integration with various transaction payment processes and merchant onboarding procedures. This integration enables real-time fraud prevention across digital payments, fast transactions, internal frauds, merchant acquisitions, branch banking, corporate banking, treasury, forex, and Swift transfers. With its high feature-functional rating and exceptional performance on parameters such as scalability, manageability, usability, and interoperability, BANKiQ™ stands as a highly agile and adaptable platform capable of meeting the dynamic needs of the financial industry.

Portfolio of Real-time and Intelligent Products

BANKiQ™ boasts a diverse portfolio of real-time and intelligent products, designed to address the diverse challenges of modern financial crime prevention. Leveraging cutting-edge technology, these products offer unparalleled insights and capabilities, empowering financial institutions to stay ahead of emerging threats. From digital payments fraud management to internal fraud management and anti-money laundering solutions, BANKiQ™'s offerings cater to a wide range of risk management needs, ensuring comprehensive protection against financial crimes.

Enhanced Fraud Detection and Response

BANKiQ™'s solutions enable enhanced fraud detection and response mechanisms, allowing financial institutions to spot and mitigate risks in real time. By leveraging advanced analytics and machine learning algorithms, BANKiQ™ provides actionable insights that empower organizations to proactively combat fraud, protect sensitive data, and uphold regulatory compliance standards. Whether it's detecting suspicious transactions or preventing identity theft, BANKiQ™ equips financial institutions with the tools they need to stay one step ahead of cyber threats.

Driving Efficiency and Security

With its focus on efficiency and security, BANKiQ™ enables financial institutions to streamline their operations and mitigate risks effectively. By automating processes, providing real-time insights, and offering robust fraud prevention mechanisms, BANKiQ™ helps organizations minimize losses, enhance customer trust, and maintain a competitive edge in the market. With BANKiQ™, financial institutions can navigate the complex landscape of financial crime prevention with confidence and resilience.

Sudesh Prabhu | Director & CTO

Sudesh is CTO of BANKiQ and is responsible for Services & Product Development, Technology & Innovation & Investor Relations for BANKiQ. He has spent close to 28-years in the IT industry having held Senior positions at Oracle, SAP, Sybase, Symantec & CA. He has managed businesses in India & Asia-Pacific.

Responsibilities include Global Communications identifying opportunities and risks for delivering the Company’s services, including identification of competitive services, opportunities for innovation, and assessment of marketplace, for business success.

Sudesh is also responsible for identifying, technology trends and evolving social behaviour that may support or impede the success of the business. In addition Sudesh also has a mandate of communicating the company’s technology strategy to the investors, management, staff, partners, customers, and stakeholders.

“BANKiQ aims to enhance human and IT capabilities, ultimately driving efficiency and improving business outcomes across various application areas in the banking and financial services sector.”

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