Infotech Lead America: Bank of the West, a subsidiary of BNP Paribas, has signed Detica NetReveal to use Detica NetReveal electronic payment fraud solution for its online, wire and ACH (automated clearing house) payments.
The bank, as part of the agreement, will also use the Enterprise Investigation Management solution for alerts and case management to provide regulatory compliance.
The electronic payments fraud (EPF) solution will assist Bank of the West to tackle growing problem of fraud and abuse across the payments channels and EIM will provide investigators with a single view of alerts and case management enterprise-wide.
The bank will roll out Detica NetReveal enterprise platform across 700 retail and commercial banking locations in 19 Western and Midwestern states.
“Bank of the West is committed to combating organized criminals as they become ever more sophisticated. With Detica NetReveal we have achieved a holistic and accurate view of customer behavior and significantly reduced false positives, freeing our investigators to pursue the true fraudsters. We are also pleased with the cost savings resulting from taking a single platform approach,” said Joe Ford, EVP Chief Security Officer, Bank of the West.
“As consumer demand continues to grow for mobile, 24/7 e-banking services, financial organizations are ever more reliant on their online business. And while fraudsters try to exploit opportunities presented by new technologies, Bank of the West is staying one step ahead by deploying Detica NetReveal’s proven cross-channel fraud prevention and detection solution suite,” said Joe Friscia, president of the Americas, Detica NetReveal.