Synectics Solutions are happy to announce that the third product release of 2015 for SIRA and Orion is now available and being rolled out to its client base.

In order to ensure that SIRA and Orion remain at the forefront of the fight against fraud and financial crime these leading edge systems have received a number of value adding enrichments, including:

  • Introduction of a new Dynamic Rule Performance Score providing enhanced workflow queue prioritisation to ensure that investigators are able to prevent fraud and reduce associated losses in a more efficient manner. The new scoring mechanism will provide a strong indication of a finance or insurance application’s propensity for fraud, and will be generated using machine learning algorithms which leverage aggregated rule performance data.
  • The overhaul of SIRA’s Transactional Monitoring System provides increased flexibility through the provision of a more intuitive rule creation engine, along with some enhanced functionality which includes High Risk and VIP list referencing capabilities, and an improved rule testing harness.
  • Enhanced control of High Risk Lists through the delivery of a File Upload Facility, reducing the manual overheads associated to deploying and maintaining lists.
  • Improved housekeeping for Stop File data via the introduction of a user defined retention date, allowing for automated removal of out-of-date information.

Commenting on the latest product release of SIRA & Orion Matt Stanton (Synectics Solutions Head of Product Management) said, “These latest developments demonstrate that as a company we are committed to ensuring that our products are equipped with the most up to date analytical functionality ensuring that our clients are able to deal with the evolving nature of fraud and wider issue of financial crime. The machine learning algorithms along with the other enhancements in this release mean that those organisations using SIRA and Orion can reduce their false positive rates and improve the quality and efficiency of investigations.”

For more information on the contents of the release please contact your Relationship Manager or for more information about our products and services please contact the Synectics Solutions Sales Team on 01782 664000 or [email protected]

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