Today the safest way to protect money is to deposit it and people deposit their money in banks and financial institutions that they trust. As new types of fraudulent transactions are being created everyday banks and financial institutions must have a fraud application which have the ability to transform and improve its self against these kinds of transactions in order to protect their customers’ money but most importantly build such trust.
inter-Fraud is a system based on data mining techniques and does not just identify simple fraudulent transactions but it can also capture the most sophisticated and newly developed types of these transactions. It can identify transactions through credit cards/merchants, alternative distribution channels and branch offices.
With the ability to run at real-time, quasi real-time and perform batch processing in non-real-time , inter-Fraud can check the transaction before provision approval, run simultaneously and check the transaction without preventing provision approval and detect any deception by controlling past transactions in certain periods.
Fraud Management System can perceive patterns of past credit card transactions, process these transactions by supervised and unsupervised learning methods thus providing the opportunity to analyze fraudulent and non-fraudulent transactions by models developed by data mining methods.
Highlights of inter-Fraud
• Ability to create online, offline and hidden scenarios.
• Ability to use customers’ transactional and financial issues in scenarios.
• Ability to create statistical and seasonal scenarios.
• Time spent on detecting and preventing fraud scenarios is much lesser.
• Ability to take multi-functional actions on customers.
• Behavioral scoring by data mining.
• Real-time transaction cancelling or transaction blocking.