Online banking services are particularly vulnerable to the activities of cybercriminals. Learn the history of one of the largest commercial bank in Poland, where we have implemented our solution – MP Shield, aimed at counteracting malware attacks and taking over bank accounts.
As institutions of public trust, banks are obliged to ensure the safe use of online banking services by users. Due to the vast number of existing threats in cyberspace, this task is challenging. Having software that protects customers and the bank itself is essential to a well-built and secured online payment system. In response to the growing threat of cybercrime, the bank required a tool to avoid hacking attacks and prevent unauthorized access to user accounts.
MP Shield software tightened the security procedures when using online banking. The significant advantage of this tool was adjusting the available options to the preferences of the anti-fraud team. After implementing MP Shield on the online banking website, the bank began to receive notifications immediately about all unauthorized access attempts to its clients' accounts. It ensured to verify any suspicious logins and transactions and, as a result, prevent money theft.
With the MP Shield solution, the bank gained an advantage in the fight for a leadership position over other institutions in the financial sector in terms of online security. The number of successful ATO attacks, phishing, and investment fraud decreased by 34%, contributing to a significant minimization of financial losses incurred by users and the bank itself. This allowed saving the operational time of employees needed for both incident handling and customer complaints.
After implementing the MP Shield tool, the effectiveness of credit fraud and fraud in our bank was sensibly lower, said the risk management director. We cannot allow customers to be exposed to any losses. We want to constantly develop and meet the highest safety standards while leaving the competition far behind.
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