Proactive Fraud Detection & Management
One of the critical pain points for today’s fraud investigators is that the fraud detection is mostly retrospective and reactive in nature. Also, in most of the cases, there is a high person dependency in detecting fraud and that gives the fraudsters the time to erase the traces. The voluminous data coupled with multiple products, channels, instruments and parties makes it almost impossible for fraud detection without automated systems. Automated monitoring systems become essential when there are multiple source systems existing in a distributed environment. A customer-centric approach to fraud monitoring, detection and management requires a holistic view of threats, especially in today’s sophisticated world of financial crime.