DBS Bank protects customers from fraud events using CEP technology
The bank ’s complex event processing technology has also opened up opportunities for more targeted customer engagement and improved service delivery. June 11, 2013 | Carol WheatcroftBackground As Singapore’s largest bank with a regional footprint across six Asian countries, DBS (See our profile for this bank here) has a highly sophisticated technology infrastructure which it leverages for competitive advantage. Nevertheless, like other banks, it remains a target for fraudsters with the ATM channel one point of potential vulnerability. Although DBS has a strong awareness of its need to stay ahead of fraudsters, the use of complex event processing (CEP) technology as part of its fraud protection strategy was not on the agenda when the bank first started to look into the opportunities offered by the technology. DBS began evaluating CEP capabilities following internal discussions about the strategic direction of the bank’s technology. Even though the bank was able to connect many of its applications as a result of its evolving service oriented architecture, it had become clear that the organisation was missing the capability to link in real time the hundred of thousands of pieces of information that the bank processed during the course of its various activities. As a result, the bank issued a high level request for the purchase of a rules based engine which could access data feeds and to which analytics could be applied. From the responses received DBS chose to adopt and evaluate the potential of Apama, CEP technology from Progress Software. The challenge In early 2012, DBS’ ATM network came under attack in Singapore, with two ATMs (in one location) subjected to incidences of skimming. As part of its response, the bank immediately redirected its focus from evaluating CEP to applying the technology to address the problem. The bank realised that since customers were constantly transacting through ATMs, by observing the transactions as they happen in real time and linking this informa... Please login to read the complete article. If you already have an account, you can login now or subscribe/register.
Categories: ATMs & Kiosks, Customer Centricity, Data & Analytics, Data Management, Operational Risk & Security, Retail Banking, Technology & OperationsATMsKiosks,Customer Centricity,Data & Analytics,Data Management,OperationalRiskSecurity,retail,technology, ATMs & Kiosks,Customer Centricity,Data & Analytics,Data Management,Operational Risk & Security,Retail Banking,Technology & Operations, Keywords:CEP, Apama, Progress Software, DBS CEP, Apama, Progress Software, DBS
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