UBI to have fraud man­age­ment tool

Banking Frontiers - - Project Pipeline -

United Bank of In­dia is propos­ing to im­ple­ment an en­ter­prise-wide fraud man­age­ment so­lu­tion and is look­ing for a sys­tem in­te­gra­tor, who would un­der­take sup­ply, in­stal­la­tion, main­te­nance & fa­cil­ity man­age­ment ser­vices. The bank is look­ing for a sys­tem that is able to iden­tify threats/ vec­tors tar­get­ing bank’s en­vi­ron­ment and pre­vent im­pact due to these through im­ple­men­ta­tion of ad­e­quate fraud man­age­ment mech­a­nisms; ca­pa­ble of log­ging and re­port­ing of fraud sce­nar­ios through the use of ap­pro­pri­ate tools; track and mon­i­tor the clo­sure of these fraud in­ci­dents and es­ca­la­tion of these in­ci­dents to ap­pro­pri­ate teams/ individual­s in the bank. The bank has im­ple­mented Fi­na­cle Core Bank­ing So­lu­tion and Fi­na­cle eBank­ing so­lu­tion and for se­cur­ing the eTrans­ac­tions, it has SMS-based OTP as sec­ond fac­tor au­then­ti­ca­tion for the in­ter­net. It has also set up for sec­ond fac­tor au­then­ti­ca­tion us­ing the soft­ware / hard­ware based to­kens and dig­i­tal cer­tifi­cate sign­ing for cor­po­rate users.

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