Compliance with the New Electronic Channels Security Standard: Effective Solutions to Ensure Compliance to Ensure Compliance

The rapid increase in the use of electronic channels for banking operations has prompted the Monetary Board of Guatemala to reinforce security measures. In response to a request from the Superintendency of Banks, Resolution JM-91-2024 was issued, establishing the new Regulation of Security Measures in Electronic Channels, which will come into effect on February 3, 2025. The purpose of this regulation is to protect both financial institutions and their clients from the risks derived from digitalization.

According to Article 55 of the Law on Banks and Financial Groups, banks and financial groups are required to implement comprehensive risk management processes, with technological risk being one of the key elements. Security in information systems, cybersecurity and IT infrastructure are priority aspects. This new regulation builds on previous resolutions, such as JM-104-2021, which had already introduced essential requirements for technology risk management.

At Plus Ti, we have Monitor Plus, an advanced multipurpose analysis and monitoring system that works in real time and combines artificial intelligence technologies. Our specialty is online transaction monitoring in expert models, machine learning and multidimensional analysis, which allows us to monitor and prevent fraud in multiple channels, including payment methods, branches, digital channels, mobile and internet banking.

Monitor Plus is designed to support compliance with the regulations issued by the Monetary Board, specifically Resolution JM-91-2024. Our solution not only meets the established requirements, but also exceeds them.

We offer an advanced, intelligent and multi-layered solution that enables fraud prevention and threat containment in electronic channels, and includes a proactive and highly parameterizable monitoring system designed to detect, alert and mitigate potential fraud risks.

The comprehensive fraud prevention model for digital channels evaluates the entire transaction lifecycle, covering device analysis, behavioral biometrics, the transactional channel and the customer's multi-product and multi-channel transactional environments. The solution also incorporates the MultiFactor Authentication tool that allows the dynamic use and combination of challenges in different phases and moments of the operation, with the ability to block or restrict transactions in real time, ensuring that operations are secure and in compliance with current regulations.

We guarantee full traceability and detailed logs of digital financial transactions, as required by regulation. Our solutions ensure the secure and efficient management of electronic channels, protecting both the institution and its users against possible cyber risks.

Find out more about our solution or schedule a personalized session to explore how we can help you optimize management and strengthen your financial crime prevention results with our advanced solutions.