Financial Crime World

Title: TrustDecision and Artajasa Partner to Bolster Indonesian Banks’ Fraud Defense with Advanced Technology

About Artajasa

  • Leading player in Indonesia’s electronic transactions sector
  • Specializes in payment network infrastructure services
  • Catering to various industries: banking, e-commerce, fintech, etc.
  • Since 2000: revolutionizing electronic transaction and payment services

The Need and TrustDecision’s Role

  • TrustDecision identified a need for budget-friendly fraud prevention solutions
  • Advanced Fraud Detection System (FDS) offers comprehensive fraud detection
  • Complements Artajasa’s extensive services

Objectives of the Partnership

  1. Empower smaller banks and financial institutions
  2. Equip with advanced technological tools
  3. Overcome challenges: technological limitations, regulatory compliance, budget constraints

Addressing Challenges

  • Indonesian banks face numerous hurdles: technological limitations, skilled labor, regulatory compliance
  • Partnership aims to deliver targeted solutions

Rising Banking Fraud

  • Banking fraud is a critical concern: digital transactions increase, financial networks become more complex
  • Recent statistics from PPATK:
    • 9,801 incidents in 2019
    • 13,338 incidents in 2020
    • Approximately 23,000 incidents in 2021

The Urgency for Comprehensive Fraud Detection Strategies

  • Indonesian government intensifies stance on regulatory compliance
  • Regulation 39/POJK.03/2019 from OJK: banks must comply with detailed anti-fraud strategies

Equipping Smaller Banks with Advanced Technology

  • TrustDecision’s FDS: real-time transaction and event monitoring
  • Multi-channel fraud prevention
  • Comprehensive risk management
  • Fingerprinting to identify fraudsters
  • Offered as PaaS or SaaS
  • Seamless integration with banks’ existing systems
  • Complies with Indonesia’s financial regulations

Conclusion

With the strategic partnership between TrustDecision and Artajasa, smaller banks in Indonesia will be equipped with advanced technological tools to combat fraud and regulatory compliance challenges. The alliance ensures a comprehensive and efficient approach to fraud detection, securing the growth of these financial institutions in the complex digital financial landscape.