Bank of the West, a subsidiary of France based BNP Paribas, has inked an agreement with Detica NetReveal, pursuant to which the former will use the latter's electronic payment fraud system (EPF).
As per the deal, the bank will deploy payment fraud system to all its online, wire and automated clearing house (ACH) payments, as well as the enterprise investigation management (EIM) technology for alerts and case management to offer regulatory compliance.
EPF will enable the bank to deal with increasing incidents of fraud and abuse in the payments channels, while EIM will cater investigators with a single view of alerts and case management company wide.
The bank will implement both platforms across its entire operations, which include 700 retail and commercial banking locations in 19 Western and Midwestern states, the bank said.
Bank of the West evp chief security officer Joe Ford said, "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."
Detica NetReveal offers risk, fraud and compliance systems to a number of financial firms and government clients across the world.
UK based BAE Systems Detica caters cyber security, managing risk and compliance, data analytics, systems integration and managed services, strategy and business change and the development of software and hardware technologies.