TrustDecision and 1LINK (Pvt) Limited successfully hosted an influential event on "Enterprise Risk Solutions for Pakistan’s Financial Industry" in Karachi on May 13th, which spotlighted our innovative AI and machine learning strategies to combat fraud and expand digital financial services in Pakistan.
May 20, 2024
5 minutes
Yuqi Chen, Elaine Cheong
Karachi, Pakistan – A landmark event has brought together over 100 leaders from the financial sector in Pakistan, aspart of the ongoing collaboration between global anti-fraud technology leaderTrustDecision and Pakistan’s largest Payment Service Provider and Operator, 1LINK. This event, focusing on “Enterprise Risk Solutions for Pakistan’s Financial Industry”, highlights the vision of both companies to leverage advance analytical capabilities like Artificial Intelligence (AI) and Machine Learning (ML) to address critical challenges of enterprise-wide fraud and seize opportunities within Pakistan’s rapidly evolving digital landscape.
This event put a spotlight on the collective effort to drive digital and financial inclusion across Pakistan through TrustDecision’s AI-powered risk decision engine coupled with 1LINK’s comprehensive Fraud Management Services (FRMS). A major innovation introduced at the event was TrustDecision’s innovative AML and alternate credit scoring method that utilizes non-traditional data insights, representing a significant leap forward from conventional AML and credit assessment methods in evaluating applicant financial capabilities and transactional behaviors. This aims to help financial sector expand their reach to wider population, especially the unbanked and underserved.
The event featured several notable speeches from industry leaders who are at the forefront of this transformative journey. Jackal Ma, Chairman ofTrustDecision, Najeeb Agrawalla, CEO of 1LINK, Maliha Anwer Khan, ChiefCommercial Officer of 1LINK, Jim Luo, Regional Sales Director of TrustDecision, and Muhammad Shahzeb, Head of Commercial SBU of 1LINK, each delivered insightful presentations that lead to great discussion and resonance.
“In TrustDecision, we believe in bringing financial and digital inclusion to emerging markets through our technology and experience.Pakistan is one of the strategic growth markets for us and I’m pleased to induce social impact to the society together with an excellent partner like1LINK!”, stated Jackal Ma, Chairman of TrustDecision.
Najeeb Agrawalla, CEO 1LINK, expressed his confidence in the partnership, stressing its timely and significant response to current industry demands. He stated “With TrustDecision’s global presence serving end customers in 150+ countries and its cutting-edge technology, 1LINK aims to facilitate the banking industry to adopt device finger printing technology to combat fraudulent activities and promote secure digital financial services”.
This occasion has enabled the emphasis on the latest regulation i.e., BPRD Circular# 4 of 2023 and how this partnership helps Pakistan’s financial institution to comply it. State Bank of Pakistan was part of the event and appreciating the partnership between 1LINK and TrustDecision, for its potential to secure the financial ecosystem and effectively counter emerging threats.
The half-day flagship event showcased the commitment of TrustDecision and 1LINK to driving innovation and security in financial services and fostering a collective drive towards more secure and inclusive financial services in Pakistan. With the collective expertise of their leaders, both organizations are well-positioned to lead the digital transformation inPakistan, enhancing both the security and accessibility of financial services and paving the way for a more inclusive financial ecosystem.
About TrustDecision
TrustDecision is a leader in decision intelligence powered by AI, ML,Big Data, and Privacy-Preserving Computing, provides innovative end-to-end solutions that help businesses combat fraud, deliver innovative credit risk analytics, and ensure regulatory compliance. TrustDecision’s technology serve end-customers in more than 150 countries and is widely implemented across various sectors, including retail, e-commerce, payment services, banking, online entertainment, and more.
For more information, please visit: www.trustdecision.com
About 1LINK Pvt Ltd
1LINK (Pvt) Limited, owned by a consortium of 11banks, is the country’s 1st PSO/PSP and largest switch and payment system, providing a host of valuable online banking services like ATM switching, 1BILL,Inter Bank Funds Transfer, Fraud Risk Management, Switch Dispute Resolution,International Payment Schemes, PayPak – Domestic Payment Scheme etc. 1LINK is continuously evolving and adding new products and services to benefit the financial industry.
For more information, please visit: www.1link.net.pk
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TrustDecision empowers businesses with AI-driven decision engine designed for fraud prevention, credit risk decisioning and ensure regulatory compliance. It leverages on machine learning models and big data capabilities to deliver real-time risk insights with accuracy and automate decision-making process to deliver maximum operation efficiency.
