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fraud-analyzer

An automated analytical system providing advanced fraud monitoring and risk management capable of substantially reducing the losses associated with fraudulent activities.

Regardless of new standards, mandates and procedures set to combat card fraud, it will always be an inherent part of the electronic payments business. Whilst some types of fraud may be declining, fraudsters are becoming more experienced and are devising ever more “inventive” ways to compromise the system, causing the overall fraud rates to rise at an alarming rate, with losses running well into billions of US dollars. Financial institutions therefore must engage is in continuous monitoring and take more proactive measures in the fight against fraud, especially as criminals target unprotected organisations.

TranzWare Fraud Analyzer is scrupulously designed to stringently monitor fraud, to address the issues of fraud detection and prevention as well as to ensure proactive fraud management by providing a host of tools enabling our customers to stay ahead of criminal manipulation.

TranzWare Fraud Analyzer performs the analysis of data uploaded into the TranzWare Data Warehouse subsystem and provides a set of tools for the automatic detection of potential fraudulent actions at the time the transaction data enters data storage (in online and quasi-online mode) based on predetermined rules. The analysis can be performed for both issuers and acquirers, for On-Us and Not-On-Us transactions, clearing data presented by payment networks and can cover the entire transaction lifecycle. The fraud detection system can operate in multi-institution mode efficiently and effectively protecting small as well as large financial institutions.

At its core, TranzWare Fraud Analyzer has customer-defined business rules that follow business as opposed to programming logic. Customers can enjoy an extensive set of tools that allows them to customise the system according to the types of fraud specific to their market, to their business needs and other preferences, and includes: designing of user-defined algorithms, business rules, documents, etc. - all of which use an in-built comprehensive GUI. Additionally the system has built-in advanced reporting facilities.

TranzWare Fraud Analyzer employs two methods of analysis: object activity analysis (cards, accounts, merchants, branch tellers) and transaction flow analysis (attributes, sequences, patterns). As such the system utilises two types of user-defined rules that can be created using SQL Markup Language or advanced object-oriented facilities for algorithmic schemes’ graphical editing (respective of the two types of analysis).

TranzWare Fraud Analyzer not only automatically and effectively monitors and detects suspicious operations, it also has an advanced system of alerts and can be set to automatically act in their response, whereby it triggers a particular action, for example: blocks a card, reduces card limit (determined by an algorithm) or starts a case investigation (managed by dispute managers); it also advises on actions to be taken and documents all the procedures. The case investigation mechanism is based on TranzWare Case Manager that allows the definition of case investigation rules, timetables and specific case actions, facilitates job divisions, organises document workflow, etc. In addition to the management of case investigations Fraud Analyzer has dispute management facilities. TranzWare Fraud Analyzer has been successfully certified by Visa International meeting the criteria for compliance with the CEMEA Acquirer and Issuer Monitoring Standards.

Functionality

  • Monitoring of transactions, cards, accounts, customers, merchants, branches, etc.
  • Issuer and acquirer analytical functions support
  • Ability to carry out multifactor object activity analysis and transaction flow analysis
  • Single and sequential transaction analysis tool
  • Static analytics: predefined rules for detecting fraudulent operations (as set by card networks FMS)
  • Parameterised analytics: tools for customer-defined rules
  • Generating, processing and analysing alerts
  • Initiation, conduct and management of case investigations based on alerts
  • Dispute management
  • Comprehensive workflow engine

For the full set of features, please view the Collateral section

Strengths

  • Full cycle of fraud management from monitoring and alerts to case investigation, dispute management and taking appropriate actions
  • Advanced customisation features, making the product fully adaptable to business needs and market requirements
  • Independent of host solutions in place
  • Independent of transaction source
  • Simultaneous transaction processing from several hosts
  • Scalability: up to 100s of millions of transactions, 10s of millions of cards, accounts, customers
  • Availability: 24x7 due to proven fault-tolerance

For more detailed information please contact us directly.