Challenges

Stay one step ahead of fraudsters, effectively combating threats and maintaining a secure operating environment.

Real-time fraud detection is of paramount importance in today's fast-paced business environment. Fraudsters are becoming increasingly sophisticated, constantly adapting their techniques to exploit vulnerabilities. By detecting fraud in real time, organizations can swiftly identify and prevent fraudulent activities before they inflict substantial damage. Real-time detection enables immediate action, mitigating financial losses, preserving customer trust, and safeguarding the reputation of the business.

Rule base systems can’t adapt to new fraud patterns

Fraudsters are constantly adapting their techniques to evade existing detection systems. Rule base systems are static and can’t learn new fraud patterns.

Existing systems provide limited actionability

Batch/Non-real time solutions can flag problematic transactions and events after they have been processed. Mitigation solutions are expensive and incur financial losses, manual labor and eroded customer trust.

Complex integrations to existing data ecosystem

Fraud systems need to be integrated within the context of the enterprise. Different data sources, monitoring, alerting and analysis tools need to be integrated for the solution to be successful.

Governance and access controls

Data powering fraud detection systems is sensitive in nature. Depending on the context and business use case, standards like PCI DSS, GDPR, HIPAA apply to the data being used in fraud detection models. Strict governance and access control need to be implemented to safeguard against unauthorized access and misuse of the data.