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Enterprise Payments Fraud

Enterprise Payments Fraud
NetReveal® Enterprise Payments Fraud uses robust behavioural profiling, anomaly detection and machine learning analytics for quicker identification of fraud - enabling frictionless payments.
The payments industry is experiencing significant transformation and change driven by regulations such as Payment Service Directive 2 (PSD2), Open Banking and implementation of faster payments initiatives globally for example Australia’s New Payments Platform. Market demands have decreased settlement times and blurred the distinction between domestic and international payments.
Technology has made remote and mobile banking an attractive, convenient option for customers. But these advances must be co-ordinated with traditional channels such as cash and cheque payments, and they come with their own unique set of vulnerabilities to fraud.
The volume, speed and sophistication of online attacks are growing, and core payment infrastructures are exposed to greater threats. The combination of banking malware, social engineering attacks, and organised criminal fraud rings are being used to attack retail and corporate accounts alike. Detecting fraud accurately and efficiently, while providing transparency to regulators, is a necessity in the current environment.

Electronic Payments Fraud

The NetReveal Payments Fraud solution enables holistic protection against payment fraud in the open banking ecosystem by combining both monetary and non-monetary activity information to derive more accurate fraud risk indicators. It provides broad coverage for cross-channel payments, automates interdiction to block fraudulent payments in real-time, and minimises impact to your institution and customers.

Check and Deposit Fraud

NetReveal Check and Deposit Fraud provides a comprehensive, pre-packaged approach, supplying an institution with the critical capabilities you need to manage suspicious and/or potentially fraudulent deposit activity.

Card Fraud

NetReveal Card Fraud provides issuing and acquiring solutions for real-time detection and prevention of card fraud. The end-to-end process is thus managed, from detection to investigation to resolution, within a single financial crime platform.

Key Benefits:

  • Detect more fraud, faster with AI – a proven combination of predictive analytics and machine learning to uncover suspicious behaviour within the payment request
  • Tailor fraud coverage to business needs – monitor all or a subset of your payment channels with coverage for retail banking, commercial banking, real-time and batch payments as well as mobile, online, call centre and teller channels
  • Stop fraud in real time – minimise losses and customer disruption by stopping suspicious payments as they happen. Providing monitoring and interdiction at the payment engine, payment channel, or payment hub across multiple channels simultaneously
  • Streamline fraud operations – reduce investigation time and expense by automating transaction interdiction, incident assignment, event visualisation and reporting
  • Improve detection accuracy and protect genuine customers – minimise Strong Customer Authentication impact on genuine customers and streamline them through the transaction process with robust Transaction Risk Assessment.

NetReveal Payments Fraud solution is:

  • Big Data ready – with the ability to ingest large volumes of digital transaction data and scale processing power on demand or per business requirements,  offering a low latency fraud detection engine
  • Adaptable to emerging channels and attacks – proven, out-of-the-box detections are flexible and configurable to enable greater control of fraud prevention and lower total cost of ownership
  • PSD2 compliant - Configurable Standard Exclusion, Transaction Risk Analysis (TRA) and Transaction Monitoring (TM) ruleset coupled with NetReveal Customer Authentication Decision Services enabling for risk based decisions for Strong Customer Authentication.  Fraud Rates dashboard reporting in line with Regulatory Technical Standards (RTS).

Analyst RecognitionNamed a ‘RiskTech Quadrant Category Leader' for enterprise fraud technology solutions, in the Financial Crime Risk Management Systems: Enterprise Fraud, Market Update 2018

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