Company: QNB Finansbank AS
Company background: Finansbank A.Ş was founded on October 26, 1987 in Turkey. In June 2016, it was acquired by Qatar National Bank S.A.Q (QNB Group), the largest bank in Qatar, the leading financial institution in the Middle East and Africa region. The Bank's name has been changed to QNB Finansbank in October 2016. QNB Finansbank is headquartered in İstanbul, Turkey. With its founder and the leading team, it was differentiated from other banks established at the same time in terms of both its main philosophy and its view of banking, and has become a success story brought to life by professional bankers where smart banking is performed. It has achieved many firsts in the Turkish banking sector. Finansbank A.Ş is the first private bank that went public, First installment credit card, The "skip an installment" and "miles through points" campaigns, thus contributing a vital know-how to the sector. In 2009, Finansbank A.Ş offered CardFinans Nakit, "the first debit card worldwide that offers installments" Finansbank A.Ş continued pioneering in retail banking as well. Enpara.com, the first bank with no branches in Turkey that offers services exclusively on digital channels, was established in October 2012. Enpara.com, more than 4 million happy customers were introduced to digital banking at no cost. Enpara.com grows on a daily basis, mainly through user recommendations via word of mouth. QNB Finansbank Financial Services Group includes QNB Finansleasing, QNB Finansportfoy, QNB Finansinvest, QNB Finansfaktoring, QNB eFinans, Cigna Sağlık Hayat ve Emeklilik A.Ş., the technology firm IBTech. QNB Finansbank became a case study at Harvard Business School for four times. The first was about its rapid healthy growth in 1994. Secondly, the sale of Finansbank to National Bank of Greece by Mr. Hüsnü Özyeğin, Third, resale of the bank in 2015 to Qatar National Bank, Fourth, with Enpara.com in 2017.
Contact: GÖKHAN DUMRUL
Title: Expert Specialist / Department Manager
Country: Türkiye
Award Category: Curious Thinker
Tell us how you are inspired by the work you do?
Our bank's senior management and employees attach great importance to prevent fraud attacks. I can give the following reasons for this.
- Fraud amounts obtained through fraud can be used to finance illegal organizations such as terrorist organizations. In this respect, preventing fraud attacks is primarily a social responsibility.
- The other thing, relationship between the bank and the customer is based on trust. Preventing such events is always important for bank reputation and increasing customer happiness.
Banks are at the forefront of institutions that use technology intensively. Especially mobile banking has made it possible for everyone to access banking services every second on the bus, subway or on the beach. This digital transformation in the banking sector has accelerated with the pandemic. In these periods when the bank branches were closed, new methods were developed rapidly to ensure customer satisfaction and not disrupt business.
Digital transformation enables faster customer transactions. It’s good. But at the same time it allow fraudster to act faster for fraud attacks.
This growth in digital channels means growing data, increased transaction speeds, increased relationships between different channels and more complex structures for Fraud teams.
SAS real time analytic solutions inspires us on how to prevent fraud attacks in these complex data.
How has SAS played a part in your journey?
As QNB Finansbank fraud team, we decided to reduce our workload and fraud losses at the same time. For this reason, we decided to use the analytical power of SAS in our processes.
Before the SAS Fraud management integration started, I was working as a fraud analyst at QNB Finansbank during 8 years. During this process, I had ideas that we could manage Fraud processes more effectively by combining them with digital intelligence, without commintment on human power. However, our existing fraud tool was working in near real time and did not have an infrastructure suitable for us to set up the relevant processes.
When the integration work of the SAS fraud tool started in our bank, I was assigned as one of the analysts to take part. During this process, I realized that SAS fraud management has the analytical power to write the effective rules we want. We made a successful integration in the first stage, then we created very good customer profiles on SAS and achieved the following gains.
Sum Up, for the customer happiness and bank reputation, we need to reduce fraud loss, delaying of alerts. At the same time, we need to increase the customer information and confirmation stages without increasing the manual workload
- Number of monitored banking channels and products increase,
- End to end and customer level fraud process created,
- Improved customer experience by preventing transaction delays,
- First step, we reduced more than % 60 manuel alerts, today we reduce %80 manuel alert.
- With these new capabilities, QNB Finansbank has become one of the trusted banks in banking sector by detecting even persuasive fraud attempts.
- It was difficult to measure fraud analyst performance; now easy and automated
- Needed time to create a complex, smart rule was almost a few days; now less than a few hour.
In the next stages, we integrated between Qnb Finansbank Digital intelligence which name is Q with SAS fraud management. In this way, we have created fraud processes managed by the end-to-end system without manpower. Q informs Q when it sees a risk. Q receives confirmation of the transaction from the customer and transmits the result to SAS. If a risk is noticed, SAS initiates automatic precaution actions. I can say that the relevant process is a first in Turkey.
We can also take customer actions by sending information via SAS to many banking systems in real time.
Again, with the experiences I gained with SAS, I had the opportunity to provide consultancy support to different projects within the QNB group.
I had the opportunity to realize many processes that I had previously planned but could not carry out, with the analytical structure provided by SAS, and to show the senior management of our bank that I could do more.
These achievements were appreciated by QNB Finansbank senior management. And first, an analytics team of 5 people was established and they appointed me as the team leader. At the end of the 5th year that I met SAS, I was promoted to the position of head of risk fraud management. Today, 5 different teams and 65 fraud analysts report to me and use SAS Fruad Management.
What products do you use and how do you use them?
I use SAS Fraud manager, Sas Enterprise guide, Sas Enterprise miner systems.
With SAS Fraud management;
- Customer profiles are created,
- Real time customer verifications are made. Customer verification with AI, Interactive voice notification, NFC process etc..
- Real time fraud measures are taken, Decline, customer block, card block, pending transfer etc…
- Customer alert analysis, and fraud process management.
With SAS Enterprise guide,
- Data analysis
- Smart business reporting,
3. Fraud analyst performance measurements
With Sas Enterprise miner
- Fraud modelling process.
We also plan to use the SAS detection and investigation tool in the following stages for common point detection and detailed fraud analysis (etc.).
What is your greatest lesson learned that you'd like to share with others?
Digitalization is happening in all sectors in the world. This increasing digitalization process brings with it much faster transaction times and growing customer data.İn addition there are now much more integrated structures between transaction channels or different institutions which have spreated workflow in the past.
The greatest lesson that we have learned from SAS, even if everything is more complex and faster than before, it is possible to create a much better customer experience with the opportunities provided by analytics and artificial intelligence, while also reducing your manual workforce.
My first advice to those who will use SAS is to carefully analyze what their needs are and what result they want to achieve. Then, when they examine SAS solutions to meet their needs, they will realize that SAS offers the analytical infrastructure that will make their lives easier.
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