It is imperative to detect fraud scenarios early and notify customers before unwanted transactions can occur. The prerequisite for effective fraud detection is reliable investigation which leads to the uncovering of suspicious transactions.  This is very challenging with extremely large data flows.

Rules Monitor Business Transactions and Uncover Unusual Ones

Possibly fraudulent actions can be recognized using rules. When transactions are monitored with pre-defined rules, business transactions that do not correspond to those rules are quickly detected. The backgrounds of these transactions are then investigated.

Bodies of rules also give banks the foundation for detecting possible fraudulent actions. The Innovations Compliance Suite contains a wealth of rules that offer the following advantages:

• Rules can be revised by the business departments themselves.
• Rules can be created for specific sales channels, branch banks, product groups, and more.
• Simulations of historical data can be performed.
• Automatic comparisons can be performed during the application process with existing data inventories, historical application data, previously detected instances of fraud, and external data inventories.