BANKiQ™: A Vanguard in Real-Time Fraud Management for Financial Institutions

In today’s rapidly evolving digital economy, safeguarding financial transactions has become a priority for banks, financial services, and payment providers alike. Standing at the forefront of this mission is BANKiQ™, a company engineered to combat modern financial crimes with real-time, cognitive AI solutions. Led by Executive Director George Varghese and backed by SquareOne, BANKiQ™ provides cutting-edge, fast-data and machine-learning-driven fraud prevention tools, empowering institutions to proactively defend against emerging threats.

Founded to address the complex and evolving risks faced by financial institutions, BANKiQ™ specializes in managing fraud, risk, and compliance within the digital payment ecosystem. Its solutions are tailored to Issuer Banks, Acquirer Banks, Financial Services companies, Payment Service Providers (PSPs), Payment Aggregators (PAs), and Hybrid FinTechs, making BANKiQ™ a versatile choice for a broad spectrum of clients. The company's platform harnesses advanced artificial intelligence (AI) and machine learning (ML) to simulate human intelligence, performing real-time analysis and decision-making that improves fraud detection and prevention outcomes.

“BANKiQ™ was built to protect financial institutions and their clients from sophisticated financial crimes,” says Varghese. “By delivering preventive, real-time solutions, we enable institutions to stay one step ahead of fraudsters, ensuring safer digital transactions.”

Vision and Mission: Proactive Defense against Financial Crimes

BANKiQ™ has set out an ambitious vision: to lead in risk management solutions for financial institutions, leveraging the latest in fast-data and machine learning technology. This proactive stance is driven by the company’s mission to defend against new-age financial crimes within the digital payments ecosystem. By making banking and financial services safer, BANKiQ™ also supports financial institutions in launching innovative services that meet regulatory compliance and provide customers with greater security.

In a world where financial crime is growing in complexity and scope, financial institutions face a unique challenge—they must balance rigorous security with customer satisfaction. BANKiQ™ bridges this gap by offering solutions that detect threats in real time without compromising the user experience.

Comprehensive Product Portfolio for Fraud and Risk Management

BANKiQ™ offers an extensive portfolio of real-time fraud and risk management products that cater to specific needs across the financial ecosystem. Below is a closer look at some of the key offerings:

• Issuer Fraud Management (IFRM): This solution empowers banks to monitor customer behavior, identifying and flagging unusual activities on the issuer side of digital payments. This real-time detection prevents potential fraud from escalating, allowing banks to take preemptive action.
• Fast Payment Fraud Prevention: As payment speeds increase, so does the risk of fraud. BANKiQ™’s real-time fast payment fraud prevention solution is designed to detect fraudulent activity instantly across various fast-payment channels.
• Internal Fraud Prevention: BANKiQ™ provides tools for detecting and mitigating internal fraud. Using behavioral analytics and ML models, the solution helps financial institutions prevent internal fraud incidents before they occur.
• Suspicious Transaction Reporting (STR): Financial institutions are obligated to report suspicious transactions to regulatory bodies. BANKiQ™’s STR Reporting tool automates this process, ensuring accurate and timely compliance.
• Acquirer Fraud Management: For acquirers, BANKiQ™ offers a comprehensive transaction monitoring and fraud management solution that includes tools for assessing merchant risk, monitoring transactions in real time, and managing extended anti-money laundering (AML) requirements.
• Intelligent Anti-Money Laundering (IAML): By analyzing customer behavior and flagging suspicious transactions, the IAML solution provides a powerful tool for identifying money laundering activity, helping institutions comply with AML regulations.

These solutions are meticulously developed to serve the unique needs of Issuers, Acquirers, and PSPs, making BANKiQ™ a preferred choice for both large and small financial entities facing diverse fraud challenges.

A Robust, Scalable Solution for Future-Ready Institutions

BANKiQ™’s platform is designed to adapt to evolving industry needs. Its microservices architecture not only makes it scalable but also ensures interoperability and ease of integration with existing systems. With capabilities to support complex digital transactions, merchant acquisitions, and even forex and SWIFT transfers, BANKiQ™ is well-positioned to support the dynamic needs of the global financial sector.

George Varghese emphasizes the platform’s scalability, noting that “BANKiQ™ is built to grow with our clients’ needs, providing a solution that is as effective for small-scale operations as it is for larger financial institutions managing vast transaction volumes across multiple geographies.”

By combining real-time data processing with advanced analytics, the platform is highly responsive, enabling financial institutions to address fraud incidents as they unfold. BANKiQ™’s agility and adaptability have made it a preferred partner for clients looking to enhance their fraud prevention capabilities while retaining flexibility for future technological advancements.

Alliance-Driven Approach to Client Success

BANKiQ™ has developed a network of strategic alliances and partnerships that further amplify its reach and capabilities. With offices in India and the Middle East, and an extended partner ecosystem spanning multiple regions, BANKiQ™ has fostered a robust network that supports a wide client base.

“We’ve goaled ourselves to help our customers run better by delivering targeted, high-quality solutions,” says Varghese. “Our alliances allow us to serve clients across diverse geographies, enhancing our ability to provide tailored solutions for specific market needs.”

Through these alliances, BANKiQ™ has extended its influence to premier clients in the banking, financial services, and payment provider sectors. This alliance-driven approach not only enables the company to deliver bespoke services but also ensures that BANKiQ™ remains agile in meeting region-specific regulatory and compliance demands.

The Future of Financial Crime Prevention with BANKiQ™

As financial crimes grow more sophisticated, BANKiQ™ continues to evolve its platform to stay ahead of the curve. The company’s dedication to innovation in fast-data and machine learning positions it as a forward-thinking leader in fraud prevention.

BANKiQ™’s ultimate aim is to empower financial institutions with the tools they need to preempt and combat financial crime effectively. By deploying real-time, cognitive solutions, BANKiQ™ helps institutions not only mitigate losses but also enhance customer trust—an invaluable asset in today’s competitive landscape.

In summation, BANKiQ™ stands as a formidable ally for financial institutions facing the daunting challenge of financial crime. With a foundation built on advanced technology and a mission to create a safer, more secure digital payments environment, BANKiQ™ is poised to lead the way in the next generation of fraud and risk management solutions. As Varghese puts it, “BANKiQ™ is more than just a technology provider—it’s a partner in creating a safer, smarter financial ecosystem.”

George Varghese, Executive Director

“BANKiQ™ is built to grow with our clients’ needs, providing a solution that is as effective for small-scale operations as it is for larger financial institutions managing vast transaction volumes across multiple geographies.”