Punjab & Sind Bank Takes Proactive Lead with Jocata’s Enterprise Fraud Risk Management Platform
FinTech BizNews Service
Mumbai, November 12, 2025: Punjab and Sind Bank (PSB), one of the country’s oldest and most trusted public sector banks, is reinforcing its leadership in secure digital banking by future-proofing its real-time fraud prevention framework. Through a series of strategic technology initiatives and implementation of state-of-the-art Fraud and Anti-Money Laundering (AML) platforms, PSB is setting new benchmarks in protecting customer transactions in an era of increasing sophisticated financial crime.
With a strong focus on delivering secure, scalable and customer-centric digital banking experience, PSB has gone live with new Enterprise Fraud Risk Management (EFRM) platform. Coforge serving as the implementation and integration partner, has orchestrated the full-stack infrastructure from servers and storage to go-live support ensuring seamless operations using Jocata’s Enterprise Fraud Risk Management (EFRM) platform, a B2B FinTech & RegTech partner to 50+ financial institutions.
As digital transactions accelerate across India, Punjab & Sind Bank— operating a vast network of over 1,600+ branches—is at the forefront of adopting advanced fraud mitigation tools to stay ahead of evolving threats. The bank is currently monitoring 40,00,000+ digital transactions in real-time across UPI, mobile and internet banking, cards, e-commerce, wallets, and other payment channels with New EFRM platform. The platform intelligently blocks high-risk transactions, declines those flagged under severe scenarios and upon denial, the system triggers rapid customer communication through IVR, SMS, WhatsApp, or email to confirm legitimacy – all with minimal disruption to genuine activity.
With these advanced measures, the bank becomes the first in its segment to block digital channels based on customer IVR responses, adding an extra layer of security against fraud. Alerts generated in the EFRM system are now automatically closed based on IVR inputs, streamlining operations, enhancing efficiency and reducing false positives. In a continued effort to enhance security and operational agility, PSB is actively integrating cutting-edge technologies such as MuleHunter.AI and advanced AML systems with its EFRM platform significantly bolstering its real-time transaction monitoring capabilities.
Shri. Swarup Kumar Saha, MD & CEO, Punjab & Sind Bank added, “Customer trust and safety are at the center of our digital agenda. Implementing new EFRM platform strengthens our ability to detect, prevent, and respond to fraud with speed and accuracy. This collaboration reflects our commitment to secure and trusted digital banking, while being fully aligned with RBI’s focus on strengthening fraud risk management. Guided by our philosophy of ‘Sarva Jana Hitai, Sarva Jana Sukhai,’ we continue to innovate and implement solutions to ensure a safe and trustworthy environment for our valued customers and the financial ecosystem.”
Looking ahead, Punjab & Sind Bank plans to further advance its leadership in digital security by adopting entire new Financial Crime Compliance suite with AI-driven capabilities such as behavioural profiling, device fingerprinting and intelligence and robust authentication mechanisms including Two-Factor (2FA), Multi-Factor (MFA). These innovations will strengthen vigilance across digital channels, pre-empt emerging threats, enhance regulatory alignment, and deliver a secure, seamless digital experience to all customers.
