Preventing fraud in real-time
The Business Challenge
Provide secure digital banking services to customers and comply with increased regulatory mandates as well as guard against new and sophisticated social engineering and malware attacks.
Unisys implemented an advanced multi-channel and anti-fraud surveillance system which uses advanced analytics to identify, manage and reduce potential risks by analyzing transactions in real-time for suspicious patterns; the system then responds to identified risks by sending automatic alerts to investigators; depending on the level of suspicion, the system can block or delay a transaction to allow for investigation or additional investigation.
Results and Benefits
- Guarded against hundreds of fraud schemes that cannot be detected by conventional two-factor authentication (e.g., account takeover scenarios such as man-in-the-middle/ browser intrusions)
- Saved millions of dollars by preventing fraud attempts in real-time
- Provided a common platform for expansion to other financial crime and compliance areas