Bank of India enhances security for card biz

MUMBAI, INDIA: Bank of India, has started Fraud Risk Management solution (FRM) for all its Card related business.

The FRM solution will be managed by Worldline India, a subsidiary of Atos.

Worldline India will provide the bank with a customized, real time monitoring end-to-end fraud management solution, which covers the entire chain i.e. from detecting to reaction, preventing by using latest technology tools for optimized results and a dedicated expert support team to help address grievance / problems.

Deepak Chandnani, CEO, Worldline South Asia and Middle East said “Today, fraud management is both a science and an art. 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. We are happy to partner with Bank of India and support them with our comprehensive solution and in-house experts in the area of Fraud and Risk Management.”