“The most important function of a bank is to protect its customers' “wallets””

Artificial Intelligence (AI) is becoming an important tool in digital transformation, especially in the banking industry. Processes such as data analysis, fraud detection, and risk management are optimized by AI, helping to improve user experience, enhance security, automate processes, thereby increasing efficiency and productivity.

Leading the digital transformation journey, MB has applied technology since 2017, and the big push for this activity took place in 2020, as soon as the State Bank issued legal regulations on eKYC, allowing account opening and online payment authentication without having to go directly to the branch. MB quickly pioneered the implementation of remote account opening service, allowing customers to operate directly on the MBBank app, while still ensuring safety and security.

According to Mr. Vu Thanh Trung - Vice Chairman of MB's Board of Directors, the most important function of the bank is to protect customers' wallets. And this is also the motto of this bank. Not only promoting customer experience and convenience on digital channels, MB is always proactive in protecting all customer transactions.

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Mr. Vu Thanh Trung emphasized that MB always emphasizes security along with convenient customer experience. Photo: MB

Since 2017, MB has invested more than 1,000 billion VND each year to develop technology infrastructure, with the goal of accurately analyzing customer behavior, detecting unusual transactions, and ensuring smooth transactions. Thanks to AI, MB has helped protect more than 20 billion in fraudulent payments and detected more than 2,500 suspicious transactions in one month.

In addition to proactively investing in technology, MB also cooperates with the Department of Cyber ​​Security and High-Tech Crime Prevention (A05) to continuously update information on fraudsters in the entire industry. The system will immediately warn customers on the MBBank app when it detects that the beneficiary account is on the “blacklist” provided by the Ministry of Public Security and recommends that customers consider not making transactions to ensure safety.

AI post-mortem automation for increased security

Mr. Vu Thanh Trung shared: “AI itself has no risks, the important thing is that the method of use is deployed properly, including controlling the process, purpose and usage. MB's AI post-audit process is linked to human control and management steps to form a closed and continuous cycle to ensure the customer service experience is deployed effectively.”

In the coming time, MB will continue to deploy and launch the App Protection solution on the MBBank app. With this solution, risks will be detected early, and at the same time, customers will be warned about malware, spyware or unsafe devices due to unauthorized intervention; being remotely controlled from other devices. This helps customers avoid having their personal information stolen, such as banking application login information, PIN codes, credit card numbers... thereby avoiding being used for fraudulent purposes, appropriating money in bank accounts. When opening the MBBank app, the system will check and immediately warn customers; at the same time, advise and guide on how to handle the situation to continue using the MBBank app, ensuring a complete customer experience.

In general, the application of technology in the banking industry will help improve work efficiency and bring benefits to customers, including analyzing behaviors to develop better products, or improving data security. It is important that banks clearly understand the usage goals, establish effective and strict usage methods and have clear processes.

Thu Loan