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The massive growth and adaption of plastic
cards as a medium of payment worldwide has dramatically increased
the number of card related frauds. This has been an explosive problem
in the banking and financial services realm, and the rapid growth
of fraudulent activity is a testament to how difficult fraud is
to detect and prevent, a fact that criminals take full advantage
of, morphing and changing tactics constantly to avoid detection.
Similarly increase in number of electronic transactions, combined
with a growing concern about customer convenience and satisfaction,
has forced institutions to reorganize the way they monitor potentially
fraudulent transactions, Hence an effective, proactive and intelligent
fraud and risk analysis solution becomes imperative for an organization.
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| Solution |
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Features |
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iNFRAS is the next generation integrated,
intelligent fraud detection and risk monitoring solution
for issuers and acquirers of debit, credit and other
types of payment cards which can operate in real time.
iNFRAS extremely flexible and effective Rules Engine
enables analysts to rapidly create powerful fraud detection
rules, for both issuers and acquirers, on a web-based/desktop
User Interface, Windows-based configuration without
requiring any programming or database knowledge.
inFRAS prime objectivie is to automate the processing
of Fraud and Risk Management Unit including fraud
detection, raising alerts based on pre-defined rules,
so as to minimize the impact of fraudulent transactions
made on the cards issued by the bank. This solution
aims at analyzing transactional data and other relevant
information and provides pointers to potential fraud
in the Retail, Cash and other environment. The system
caters to both the issuing and acquiring frauds for
debit cards. This web based/desktop application is
based on monitoring the behavioral pattern of the
card user based on various monetary and non-monetary
parameters that are related to the card operations
and usage.
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| The solution provides the following benefits: |
- Predictive model for early detection of fraud.
- Rule engine for dynamic trigger definition
- Maker checker concept for enhanced security.
- Strong MIS module providing various reports facilitating
quality decision making by the management.
- Transaction based fraud detection
- Independent solution, can be interfaced with any
solution working on industry message format
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