The Canada-based credit union bank was on the lookout for a bank fraud management system to monitor, identify, and prevent fraudulent transaction activities. We developed a robust fraud analysis framework and integrated it into their existing system. The new system would increase operational efficiency and monitor patterns in real-time of possible fraud activity across the payment cycle.
Real-time insights enabled the client to reduce bank scams that accounted for 6.4% of identity theft frauds. The created fraud detection software for bank offers preventive action and minimizes fraudulent attacks in their region.
Integrated the system with their existing payment mechanism to analyze the core banking transactions in real-time and perform fraud checks
With inputs on the traffic potential, the BI engine helps reduce the fraudulent attacks by providing early warning signals to take-on preventive action
The banking fraud solution checks every financial transaction to ensure the completion of the entire payment process within milliseconds
The distributed architecture helps the system become well-prepared for potential future anomalies
The advanced risk prevention BI framework helps the client control financial fraud while keeping its customers with a safe & comfortable banking experience.
An essential checkpoint component that analyzes in-process transactions in real-time and prevents any fraudulent attempt
Enables business analysts to monitor, tweak, add, or update fraud detection rules on a proactive basis based on potential scenarios.
Display insights on irregular transactions, user statistics analysis, merchant-level payment processing inputs and more to prepare for the challenging environments
Allows real-time blocking of credit card and online transactions based on fraud filters, thereby avoiding the substantial cost of dealing with fraudulent transactions