The term Open Banking Strategy is no longer unfamiliar in the Finance – Banking industry. This strategy is seen as an inevitable trend and a competitive advantage for Banks in the market. Accordingly, Banks will share financial data and customer transactions through open source API technology with third parties, who are financial service providers. Therefore, the network security system and anti-fraud measures become more urgent than ever to prevent the risk of security breaches that can cause system risks.

Grasping the importance of security and anti-fraud solutions for Banks, Seatech cooperated with IBM Vietnam to organize a seminar on Integrate Fraud Detection Across Customer Lifecycle for Open Banking Strategy in the afternoon of October 24, 2023 in Ho Chi Minh City. Attending the seminar were leaders and senior experts in risk management and network security of many domestic and foreign Banks.

The seminar gave customers a multi-dimensional perspective on implementing fraud prevention and security solutions for the Open Banking Strategy. Here, experts from IBM and SEATECH shared interesting topics about detecting and preventing fraud, such as the Real-time financial transaction fraud detection Model and Identity Access Management (IAM) to safely enhance user experience on open banking platforms, …

In particular, the seminar also brought a practical sharing from Orient Commercial Bank (OCB) on experiences in implementing fraud detection models in financial transactions. SEATECH is honored to be the implementing partner accompanying OCB in the project “Fraud Management System” using the Safer Payments solution platform since April 2023. From practical experience implementing numerous risk management projects for Finance – Banking industry units, SEATECH also brought to the seminar the most realistic perspective on project approach and implementation.

The seminar received several compliments and high appreciation for the content quality of the program’s topics. SEATECH and IBM believe that after the seminar, valued guests will be equipped with the necessary knowledge and solutions to enhance fraud detection capabilities and improve the effectiveness of the Open Banking Strategy for organizations.