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.
About Jocata
Jocata (a subsidiary of BillDesk) is a leading B2B FinTech & RegTech platform provider for 50+ financial institutions across India, ASEAN and the Middle East. Founded in 2010 and headquartered in India, Jocata specializes in Digital Lending, Credit Intelligence and Financial Crime Compliance. The solution encompasses the entire customer lifecycle seamlessly integrating digital onboarding, credit assessment, disbursal, collections, regulatory compliance - anti-money laundering and fraud prevention - all on one platform.
Jocata’s unified Financial rime Compliance (FCC) platform enables financial institutions to manage large volumes of transactions securely while navigating evolving regulatory requirements. Powered by advanced data analytics, our FCC suite offers Customer Due Diligence & KYC Management, Negative Screening, AML Transaction Monitoring & Regulatory Reporting, Fraud Detection and Risk Categorization. By harnessing artificial intelligence to reduce alert fatigue, uncover hidden risks, and accelerate investigations, Jocata is helping modernize financial crime compliance frameworks — making them proactive, contextual, and continuous.
About Punjab & Sind Bank
Punjab & Sind Bank, founded on June 24, 1908, in Amritsar by Bhai Vir Singh Ji, Sir Sundar Singh Majithia Ji, and Sardar Tarlochan Singh Ji, is a leading public sector bank committed to financial inclusion and community development. Nationalized in 1980, the Bank has played a pivotal role in empowering individuals and businesses across India. Headquartered in New Delhi, it operates through 1,610 branches, 988 ATMs, 3 digital banking units, and 2,586 business correspondents, supported by over 10,000 employees who embody its motto — “Where Service is A Way of Life.”
As of HY1 FY2025-26, the Bank’s total business stood at ₹2,41,272 crore, comprising ₹1,35,706 crore in deposits and ₹1,05,566 crore in advances, with 55.84% directed toward the Retail, Agriculture, and MSME sectors. With a net profit of ₹564 crore, Gross NPA at 2.92%, and CRAR of 17.19%, Punjab & Sind Bank continues to uphold its legacy of trust, service, and financial strength.
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