The continuous evolution of complex fraud attack schema is one of the most vicious threat that several businesses are facing now days.

Originally, Online Fraud was focused on payment transactions and login processes, involving mainly banks and digital commerce. Today, these industries need an innovative anti-fraud strategy to increase the detection capabilities, optimize tools and workforce, and enhance the user experience.

However, the fraud landscape has evolved and now encompasses a broader range of use-cases that impacts on different industries, both financial and not, like synthetic identity fraud and bonus or promotion abuse.

Enhance fraud rates, minimize false positives, improve user experience, maintain compliance and minimize costs are all drivers to balance when developing and antifraud strategy.

RAD supports its customer with its competence center trained and focused on assessing , developing and maintaining anti-fraud strategies and solutions, by adopting an holistic approach that take care of current trends and scenarios, with special focus on technologies and processes.

Innovation

Antifraud strategy means innovation and completeness of view.

A complete Transaction Risk Analysis needs to be fed by different risk indicators. Transaction and Event Monitoring tools need to be supported with innovative technologies in:

  • Behavioral Biometrics
  • Malware Analysis & Device Fingerprint
  • Threat Intelligence

Moreover, modern Enterprise Fraud Management Systems (New-Gen EFMS) support an omni-channel approach that solve the “siloed view” of legacy antifraud deployments, to address a broader range of fraudulent use cases.

Optimization and Orchestration

Antifraud strategy means optimization.

Architecture complexity, lack of feedback, communication gap, not properly equipped workforce: all of these factors make antifraud analysis complex and decrease fraud detection accuracy.

This is why we strongly support the use of modern solutions for orchestration, automation and response (FOAR).

Trust

Antifraud strategy means building trust.

Digital Transformation involves Digital Trust: it’s not only a matter of mitigating risks and can drive the success or the failure of a business.

Nowadays, there is a deep convergence among Online Fraud Detection and other security processes such as Identity Proofing and User Authentication. All of these processes can benefit from each other when performing a risk assessment and implementing countermeasures.

Antifraud strategies need such complementary functionalities to increase trust and support related processes.