Company: Enpara Bank A.Ş
Company background: Enpara.com, founded by QNB Finansbank in 2012, is Türkiye's first branchless digital banking application, offering all its services only through digital channels and sharing the cost advantage of being branchless with its customers with a cost-free and advantageous banking approach. With Enpara.com, we have become the industry's leading brand in the field of digital banking since the first day, and we have reached millions of customers and a significant size with the high customer satisfaction we have created. As a result of the detailed evaluations we made as QNB Group and QNB Finansbank on November 25, 2022, we decided that Enpara.com will leave QNB Finansbank and continue as QNB Group's 2nd deposit bank in Türkiye in order to create more value for our group and our shareholders. In order to implement this decision, we, as QNB Group, had to establish a new bank named “Enpara Bank”. In this regard, our application to the legal authority in the field of banking in Türkiye for a license was concluded positively on 05/08/2023 and the establishment permit was given for Enpara Bank.
Contact: Ozan Tarabuş
Title: Senior Fraud Prevention Specialist
Country: Türkiye
Award Category: ROI Rock Star
What was the business need/presented problem you were faced with?
Operationalizing the bank in very short time without any disruption,
With the establishment of Enpara.com as a separate bank and obtaining the necessary permissions from legal authorities, all banking systems had to be re-established. In this critically important journey, it was not easy to re-implement hundreds of applications and services without disrupting the existing banking experience in a very short time period to be time to market. It was very important to continue with its solutions without any interruption, which would not create any security weaknesses in the process, which required both a great cost and a great deal of effort. As the fraud prevention unit, the need to establish a separate Fraud tool from QNB Finansbank for Enpara Bank's showed up. We had problems to solve in order to create a new Fraud tool.
- In order for the bank to be established and the license to be obtained, fraud prevention processes must be ready for use before the bank audit.
- Since it was a separating from a different bank, it was necessary to migrate the previous profiles without disrupting the customer experience. These profiles were important to reduce the false/positive ratio in transaction alerts to be monitored.
- There should be no breach in customer confidentiality during profile migration.
How did you use SAS to increase revenue/save money for your organization?
Short time (16 weeks) to implement, reduced our investment costs and exceeded the expectations,
As a security strategy at Enpara Bank, we aim to monitor customers' journey in product/channel usage. To make this monitoring possible, the Fraud tool must collect data from many databases and main banking and should produce results in real-time.
In a bank with millions of customers, such comprehensive integrations become long-term projects of several years. Thanks to our experience with Sas and its flexible structure, we created a working fraud package in a short period of 16 weeks. In this way, we saved a large amount of integration costs saving over 2-3 years of work.
With SAS solutions, we successfully transferred customer profiles in different environments to Enpara Bank, which is in the establishment phase. If this information had not been transferred, the profiles created for millions of customers would have been lost and the false / positive rate that created by the fraud rules in the new bank would have been very high. This will have brought about a huge workload. By achieving this development, a large workload cost was prevented.
What SAS products did you use and how did you use them?
We have completed successful work by completing the SAS Fraud Management installation at QNB Finansbank. By sharing these experiences for Enpara Bank, we have successfully completed the following necessary milestones to make SAS's Fraud Management 6.1 application available, and doing business go live almost within the analysis period, we have launched a product that adds added value to our company.
- Identifying and integrating transactions and appropriate fields that can track the customer,
- Ensuring communication with the customer and identify and integrating customer information,
- Integrating the necessary security actions for suspicious transactions and customers,
- Integrating actions,
- Writing customer fraud rules,
- Calculating the necessary system costs and ensuring the environment,
- (Additional) Since it was a separeting from a different bank, we migrated their previous profiles.
What were your results? Please quantify.
Investment costs for implementation dropped drastically (from 2-3 years to 16 weeks),
First of all, fraud integration must be completed in order to obtain a banking license. Completing the integration quickly, we eliminated an obstacle to the banking license process.
As a result of our experience and research in the sector, integrations of this size are optimally completed within 2-3 years. With the flexibility offered by SAS, we completed the integration journey that we started in June 2023 on September 23 and made Fraud Management available in a very short time of 16 weeks. In this way, we benefited from more than 2 years of resource costs in IT and business unit teams.
SAS SFM saves as such 20 fraud practitioners equivalent,
With the transfer of customers' previous profiles to SAS, structures have been established to provide alert controls without increasing the number of agents while providing high-security controls. With this success, an additional workforce of 20 people was eliminated.
