TBuguroo proposes a new solution to provide end-users' full protection and to allow the bank of each client to know and understand the origin of the attack. This system is highly attractive to the market, thanks to the following features:

•Automate your response to attacks against your customers with malware by using our unique Greylisting approach

•Prevent the effects of account take over with our per profile behavioral biometrics

•Target fraudsters with our engine that allows pinpointing the criminals by acquiring the information about the context and behavioral biometrics     

Below we present the most outstanding benefits that the bugFraud solution offers:

•An integral, holistic layer of defence that complements other BANK security systems, focusing on the protection of its customers using digital banking as these are usually the most vulnerable in the use of online banking services.

•Advanced Artificial Intelligence and Deep Learning techniques for biometric profiling of behavior are used for real-time detection of attacks that seek to supplant the identity of the user (ATO). It is also a protection layer against theft of online or offline credentials, attacks that take remote control of sessions such as RAT, or attacks by automatic bots.

•Immediate protection of 100% of digital banking users once the BANK implements it in its online web banking channels and is updated in the mobile banking application.

•Active protection during the entire online banking session: from the moment authentication through the actions such as executing queries and operations in digital banking, until they finally close and exit the online banking session. It works throughout the session and not only at certain specific static moments.

•Execution of automatic countermeasures for the BANK clients to protect them in real-time against the cyberattacks.

•Transparent and without impacting the user experience in the use of online banking through "agentless" or "frictionless protection" that does not require any action or software installation on the user's device, but works transparently and automatic within the digital banking session itself.

•Protection of both web channel and in the mobile app analyzing and relating dozens of device parameters, user behavior biometrics and advanced malware detection techniques.

•Detection of fraud attacks at an early stage such as phishing campaigns as well as more sophisticated attacks directed against bank clients. Attacks based on web injections, MITB, even in unknown malware (Zero Day), or any use of digital banking that does not belong to the real user.

•Real-time insight and intelligence about the victims of the fraud. Based on that information BANK knows from the beginning and without delay, which of its users are attacked as well as how, when and where they became victims of an attack.

•Easy installation, commissioning and subsequent maintenance by the BANK as it is a component that works embedded in the web portal or within the digital banking app that, thanks to its design and architecture, allows for hot updating and execution without affecting the performance of the users.

•Acquisition of non-sensitive information related to customers or bank operations and information, complying regulations and regulations with data protection personal (e.g. GDPR);

•Support service that works in the cloud with 24x7 support in English and Spanish under the significant benefits related to the availability and security of the solution.

•An optional graphical console for monitoring and visualization of alarms with anomalies and technological risk of users in online sessions detected in real-time, as support in analysis activities of said alarms.

•Optional integration with other systems or applications existing in the BANK such as SIEM, transaction monitors, risk analysis engines and others). Thanks to integration options bugFraud provide risk information, alarms and events, which can be processed with other tools and sources of information from the BANK. It allows the creation of advanced actions of greater scope, trigger research flows, analyze risks and present alarms in a single user interface that could already exist deployed.     

Both Buguroo’s solution and their competitors detect online fraud and anticipate potential cases that can end up in fraud (early detection, before it happens). However, as much as they detect attacks, fraudsters will keep trying.

Buguroo proposes a new solution to provide end users’ full protection and to allow the bank of each client to know the origin of the attack. This system is highly attractive to the market thanks to the following features:

•Their inability to guarantee sufficient confidence of the two fundamental principles of fraud prevention: to ensure the legitimate identity of end-users and to ensure they are not deceived during the online session.

•Non-full session protection. They are often only valid for specific moments of the online service and not capable of protecting users during the entire duration of the online session "continuous authentication".

•A smaller scope of detection capabilities and less adaption to changes in cyber-attacks techniques, since they use predictive models not based on AI.

•Disregarding User Experience (UX). Several solutions do not care about the end-user experience: friction is created to them because software must be installed in the end-user devices or because users must overcome more security challenges to confirm their identity. Such an approach reduces the business simplicity of the processes.

Presented arguments render the majority of existing solutions inefficient and incomplete to solve the variety and complexity of current and future attacks in online fraud.

iSHRAQ*Invest provides real time access to investment information through a user friendly web interface that offers 3 levels of information in a single page as well as a multi tabbing feature that makes the navigating experience through the system more effective while saving all the data coherently. Every transaction applied on the system is calculated and reflected automatically, minimizing the overall time consumed to run the portfolio calculations and enhancing the system performance. This advantage is useful when generating reports in previous dates since these reports take almost the same time to generate as the current report.

Key benefits are:

• Enables customers to invest in most asset classes, in multiple markets, using one or more currencies.

• Improved operational performance and productivity through its fully centralized database along with full scalability for unlimited growth and large volume processing capabilities.

• Offers comprehensive and consolidated reports, market updates, and portfolio yields.

• Enables portfolio managers to manage money of one or more portfolios in a specified currency which saves front officers of all back office accounting details.

• Stock markets support in single and multi-currencies including setting deals, commission and fees rates in each currency allowed by the dealing market.

• Automatic calculation of fees at specified periods or with each transaction, whether it is per-transaction, fixed amount or fixed lump sum at a specific period.

• Fully integrated web based application allowing employees and customers real time access to investment information.

• Ability to maintain several transactions simultaneously with independency in saving different forms allowing users to create, edit and save several records at once.

iSHRAQ*Finance provides financial facilitators with a comprehensive Islamic finance platform  rich in tools to maximize investment performance through a wide range of Islamic products that are specially tailored to meet the diverse needs of their corporate and retail customers, while being fully compliant with the Sharia  regulations. It is a complete customizable and innovative solution that includes all the finance facility cycles starting from the approval workflow, managing legal entities, setting repayment plans, connecting the business parties with the following Islamic products:

• Murabaha

• Mudaraba

• Musharaka

• Deminishing Musharaka

• Tawarruq

• Qard Hassan

• Musawma

• Ar-Rahnu

• Istisnaa

• Leasing

iSHRAQ*Microfinance Loan Programs Business Features:

• No collaterals, guarantors, or bank accounts

• No penalties for late payments

• Loan full or partial dropping in case of customer death or inability to repay

• Grouping concept to mitigate collection risk

• Takaful concept: Customer performance tracking for further loan programs.

• Back date facility that can undo the effect of posting transactions backward until a specific date; to  add missed transactions in the past and affect balances in the past and update or delete one or more posted transaction.

• Built-in data mart for quick generation of complex and multiple-domain reports without affecting the application performance. The data mart also allows getting reports as of any date in the past with the same performance as of current date. 

• Friendly user interface in terms of facilitating application usage through multi-pages, multi-tabs and customizable favorite list for quick and easy access of day-to-day tasks.

• Solid approval workflow engine to guarantee that each transaction has its own approval path, starting from the transaction submission until the final decision is made.

• Allows remote approval for application requests.

• Task list that shows the current transaction pending for action from the current user. When a transaction is done, it disappears from the list, saving the user from searching, with the option of creating a mass action for bulk transactions.

• N-tier architecture with two common presentation and database tiers, in addition to the middle-tier which is composed of control-logic enabling data-access tier directly or through the business tier.

• Fully web based structure that grants access to any location (branch) without any installation or maintenance efforts.

• SOA (Services-Oriented Architecture) compliant which allows exposing web services to bank clients in order to create application requests, application follow-ups, or any other inquiries.

• Fully compliant with Sharia principles.

• Cross-sell/ Upsell in Real-time
• Next Best Product Recommendation 
• Lead Generation
• Intelligent Prompts 
• Real-time Customer Detect at Branch
• Automated Service Messages 
• Enhanced User Effectiveness 
• User-friendly Analytics 

The iMAL core strengths:

• Supports all known Islamic banking instruments
• Web interface, N-Tier Java based, SOA architecture
• With high parameterization capabilities; greater process efficiency, better risk mitigation
• Multi-currency, multi-branch, multi-company enabled accounting backbone
• With strong product definition features
• Fully integrated yet modularized, with Model Bank
• Highly automated and flexible system
• Ensures quick time to market products.

iMAL employs multi-tier architecture using the latest JAVA technology with either Oracle or SAP Sybase as core database servers. These powerful and at the same time affordable Relational Database Management Systems (RDBMS) provide sophisticated data protection and high-speed access to information.

The system runs on all the main platforms and operating systems requiring only an up-to-date internet browser at the client side.

iMAL is rich in opportunities for increasing revenue through cross-selling and upselling. It also enables a 360° view which enhances customer service.

It is also cloud ready and deployable on a fully scalable, multi-server n-tier architecture. It includes out-of-the-box, industry best practice processes that further support rapid implementation, team knowledge transfer and sustainable business processes.

The fully integrated front, middle and back office Islamic core banking platform, running 24/7 in real-time -iMAL- combines comprehensive business functionality with an advanced, secure, scalable and modular architecture proven to meet the market toughest challenges of today and tomorrow. 

iMAL enables Islamic financial institutions to carry out essential tasks across retail, corporate and in­vestment banking including core banking, transaction banking, online and mobile, payments & financial messaging, trade services and cash management. These applications help Islamic financial institutions to meet business needs in areas like streamlining operations, introducing new products, improving efficiencies and customer service, and ultimately increasing revenues while reducing risk.

iMAL provides platform independence, real-time interfaces, extreme usability, full scalability, high-performance, excellent productivity for configuration and deployment, and modular components.

With iMAL, Islamic financial institutions are empowered to achieve:

• Built-in Islamic operations standard compliant workflows and system controls
• Various delivery channels
• Faster time to market
• Exact fit to business requirements
• Phased migration and implementation approach
• Running businesses in real-time mode
• Higher operational efficiency:
• Single integrated platform for all banking activities
• Flexibility to meet change and growth requirements
• Cost reduction by implementing STP
• Optimized business performance
• Superior customer service
• Efficient speed of service
• Precision of documentary cycle
• Electronic reconciliation (quick notices)
• Prompt dispute resolution: Legal, collection, valuation, procedures, etc.

iMAL is based upon customers’ serviceability. One of these backbones is the production of multilingual statements to customers of the Islamic financial institutions. This is done with minimal data entry at the outset of the system’s parameterization, whilst the production of the various statements, advices, is done automatically by the system without manual intervention by the end-user.

iMAL, which is in compliance with Basel II/III & AML, enables Islamic financial institutions to contain the risk element before they get exposed to a higher degree of risk through effective risk management built into every single transaction that is undertaken in the system.

In addition, iMAL helps Islamic financial institutions implement a flexible, cost-efficient infrastructure with instant access to accurate, up-to-the minute financial updating in order to make informed opera­tional and strategic decisions at a moment’s notice. This comprehensive approach produces a higher Return On Investment to our clients.