FRAUD RISK MANAGEMENT SERVICES

Our FRM Solution:

As we move from payment 2.0 to payment 3.0, customers are using multiple channels to pay and are demanding instant gratification in all their interactions, including payments. On the other end of the spectrum, fraudsters are becoming more and more sophisticated in the manner in which they conduct fraud and wreak havoc on the ecosystem. At the same time, regulators (are rightly) putting more pressure on banks and financial institutions to implement water-tight risk management processes. If you’re a banker or a risk manager, you will know that the need of the hour is an end-to-end Fraud Risk Management solution, one that is able to cater to and tackle the challenges prevalent in today’s dynamic payment landscape.

Are you tired of being reactive in your fraud management approach? Employ a proactive fraud management process - one that enables you to stay one step ahead of potential fraudsters. Use a wide array of powerful and advanced analytical tools to individually score each transaction in real-time, based on a pre-defined set of rules (completely customizable), and a machine learning and data exploration engine that becomes smarter and more robust with its decision making as you feed it more data.

Benefits

• Designed around a hybrid approach, that includes rule-based configuration, anomalies detection, and predictive modelling for fraud detection.
• Ability to maintain a single profile of a user across all channels.
• Ability to perform multi-dimensional profiling, i.e. profiling any entity (customer, POS, ATM, Mobile Banking, Branch Banking, IMPS, etc) on the basis of certain statistical parameters.
• Ability to detect and prevent fraud in real time.
• Advanced analytical model and clustering employed. Clustering techniques used in the model can help detect movement of a customer from a low risk cluster to a high risk cluster over a period of time – which will then trigger flagging of potential fraudulent behaviour.
• Ability to integrate with existing authentication systems of the bank, enabling risk- based authentication.
• Robust case management tool that acts as a dashboard for transaction investigation, analysis, and follow-ups.
• Can be easily integrated with CBS of the bank as well as multiple payment applications and channels (including the recently added platforms by NPCI).
• Runs on an impressively low response time of less than 10 milliseconds.