Fraud Abstention

Universal Banks

Fraud and Prevention

Identify and eliminate application and online fraud. Address the proliferation of identity theft and synthetic identities. Our fraud detection program provides a single, end-to-end framework for better fraud detection and greater operational efficiency across multiple channels and products.

Detect more fraud, and reduce your losses.

Our unique, hybrid analytic approach uses multiple techniques – automated business rules, predictive modeling, text mining, database searches, exception reporting, network link analysis, etc. – to spot more suspicious activity with greater accuracy. A powerful fraud analytics engine uses embedded AI and machine learning techniques, combined with traditional detection methods, to process all data (not just a sample) in real time or in batch, to find more fraud and reduce false positives. And by analyzing device data in conjunction with demographic data, you can quickly uncover application and online banking fraud.

Get a consolidated view of fraud risk.

Identify cross-brand/product fraud by viewing customer accounts and transactions for all lines of business in one consolidated view. A unique visualization interface lets you spot linked entities and banking fraud crime rings that you would otherwise miss. Social network diagrams and sophisticated data mining capabilities enable you to better understand new banking fraud threats, so you can prevent substantial losses early. And stay on top of changing fraud trends by continuously improving models and adapting the system.

Boost investigator efficiency, reduce false positives and gain a competitive advantage.

The solution applies risk- and value-based scoring models to accurately score and prioritize alerts before they go to investigators. With the time saved, investigators can work more cases with greater efficiency, and focus on higher-value networks that generate a better ROI. More accurate scoring also means fewer false positives – and that translates to less customer inconvenience and greater customer satisfaction. You can also boost the efficiency of collection processes by identifying banking fraud losses that result from synthetic identities and have little to no chance of recovery.

Data management

  • Provides a banking-specific data model.
  • Consolidates historical data from internal and external sources.
  • Reduces or eliminates redundant or inconsistent data with automated, built-in data quality tools.
  • Seamlessly integrates with existing third-party fraud applications.

Advanced analytics with embedded AI and machine learning

  • Provides a broad set of modern statistical, machine learning, deep learning and text analytics algorithms from within a single environment
  • Enables you to improve fraud models by testing different approaches in a single run, and comparing results of multiple supervised learning algorithms with standardized tests.
  • Provides an array of analytical capabilities, including clustering, different types of regression, random forests, gradient boosting models, support vector machines, natural language processing, topic detection and more.
  • Continuously updates and improves models based on prior output results.

Rule and analytic model management

  • Provides prepackaged heuristic rules, anomaly detection and predictive models, so you can harness the power of advanced analytics right out of the box.
  • Lets you create and logically manage business rules, analytic models and watch lists.
  • Enables you to customize analytical models to identify fraud not found by existing business rules.
  • Enables easy management of the deployment, aggregation, scheduling, suppression and routing of simple or complex rules across multiple factors, including accounts, data sources and lines of business.
  • Lets you run groups of rules and models alone, in parallel or at different times (intraday, daily, weekly, monthly, etc.).
  • Facilitates collaboration with other business units on model development.

Detection and alert generation

  • Calculates the propensity for fraud at account opening, then rescores accounts with each transaction as new data is captured.
  • Scores 100 percent of transactions in real time with an online scoring engine that uses multiple detection methods.
  • Enables you to incorporate fraud detection methods into the process at the most appropriate points – e.g., cases where anomaly detection scenarios may require data that is not available until later in the adjudication process.

Alert management

  • Combines alerts from multiple monitoring systems, associates them with common individuals or accounts, and provides a more complete perspective on the risk of particular individuals, accounts or groups.
  • Prioritizes the investigative order of alerts by scoring them in real time, based on specific characteristics.
  • Automatically routes alerts to appropriate team members based on user-set rules and requirements.
  • Displays all evidence for each case on a dashboard that you can customize to accommodate your investigative unit's processes.

Social network analysis

  • Provides a unique network visualization interface that lets you go beyond transaction and account views to analyze related activities and relationships at a network dimension, and identify linkages among seemingly unrelated activities.
  • Enables you to produce complete dossiers of networks surrounding a case, and gain fast access to full details on all related parties and networks.
  • Produces independent and combined fraud scores, so you can assess overall risk on a customer, transaction or network basis.
  • Increases investigator effectiveness by enabling investigators to merge and delete network entities, and add annotations (text and images) to specific entities in a network.
  • Provides time slider functionality, which enables you to see how activity in a network develops over a time horizon.

Search and discovery

  • Enables free-text, field-based or geospatial searches across all data (internal and external).
  • Lets you refine searches using interactive filters and facets that customized for your investigative team.
  • Provides an intuitive interface that lets you construct complex queries without the need to understand specific syntax. For example, you can use fuzzy searching, proximity searching and field boosting while restricting searches to specific entity types, fields, comments or insights.

Workflow and case management

  • Systematically facilitates investigations using a configurable workflow.
  • Stores all information pertinent to a case, including detailed investigation information – e.g., interview notes and evidence for criminal or civil prosecution, restitution and collections.
  • Assesses overall fraud exposure, including losses due to fraud as well as fraud detected or prevented.

Flexible deployment options and analytical services

  • Enables faster implementation (and faster ROI) when installed and administered at the SAS hosting site, eliminating the need for staff to oversee the system.
  • Can be hosted at your site, with SAS assisting with the implementation and providing training.
  • Can be fully integrated with your existing operations environment, workflow solution and business process management objectives, including thorough business process discovery and review to ensure your objectives are met or exceeded.

We may use cookies or any other tracking technologies when you visit our website, including any other media form, mobile website, or mobile application related or connected to help customize the Site and improve your experience learn more