Implement the fast boarding process that your customers demand without compromising on the range and sophistication of your fraud and financial crime risk analysis.
Reduce siloed working and adapt to changes in both regulation or financial crime risks across your organisation without compromising your ability to get products to market.
Comply with key regulations such as 5MLD & PSD2 and create effective treatment strategies to improve customer relationships and reduce costs through continually monitoring customers.
For over 27 years we’ve successfully delivered some of the most effective and innovative fraud & financial crime prevention solutions that are used throughout the world to help our clients’ harness the power of data to protect them and their customers.
Leading banks, FTSE 100 insurers and government departments choose us to deliver their business critical systems.
Our services have saved over £3.1billion for UK financial service providers and £1.7billion for the UK Government.
Complete peace of mind that all of our systems and processes conform to the highest information security standard: ISO 27001 and are supported by our experts with government security credentials.
Our company and innovative solutions have won multiple national and international awards - demonstrating best-in-class delivery.
Our solutions, systems architecture and collaborative intelligence services operate 24/7 across 15 countries to help clients maximise ROI and reduce risk. Robust, scalable and highly available, our solutions and services are low latency and support your dynamic requirements to deliver proven, effective solutions.
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We are trusted by many industry leading organisations across the world to take care of their risk management, financial crime and fraud systems. Some of these include:
Don't just take our word for it. Our innovative approach to our solutions and services are multi-award winning. Some of our most recent awards include:
Our innovative thinkers are helping to shape the future of what’s possible across all of the markets related to our business.
80% of information is held in inaccessible, unstructured data files. Is now the time to unlock this rich source of intelligence and transform your ability to stop more fraud? Osman Khurshid, Head of Solutions Consultancy, Synectics Solutions The days of customers visiting a local branch or broker, armed with a passport, utility bill and other paper-based ID, in order to open a new account or purchase insurance are pretty much over. Millions of consumers are purchasing more and more products and services online, without face-to-face interaction with their retailer or service provider. For the financial services and insurance markets, the shift to a more automated and digital customer experience creates savings and efficiencies - business can be written quicker and customers receive a fast, smooth experience. However, these digital advancements also cause the same industries a new headache. Sales and Marketing teams are pushing for a shorter apply processes to avoid drop off, (and therefore often ask for less up-front information). They want an ultra-slick sales funnel. Compliance, Fraud and Risk Teams on the other hand need to ensure that the necessary credit, risk and identification checks are in place to guarantee that they comply with Know Your Customer (KYC) regulations. Unstructured data is information that either lacks a pre-defined data model or is not organised in a pre-defined manner. It is typically text-heavy but may contain data such as dates, numbers and facts. Unstructured data typically makes up 80% of an organisation’s data, and this is growing at a rate of 55%-65% each year*. Structured data such as names, addresses, and phone numbers are usually easy to capture, store and maintain digitally, whereas unstructured data has severe limitations.
Hear from one of the leading insurers who improved the speed at which they could board genuine customers without compromising on their risk checks, with our Intelligence Hub. Driving down the cost of risk, improving compliance and the customer journey. Ensuring that customer on-boarding or application and claims processing is as frictionless as possible is an essential ingredient when trying to improve risk and compliance checks. To achieve this, risk analysis solutions need to be able to integrate and communicate with a company’s wider decision systems. Applying real-time configurable business logic to data processing is one function of The Intelligence Hub (part of Synectics’ risk management, financial crime and fraud prevention platform) that is helping one of Synectics Solutions’ insurance clients to integrate its fraud prevention solution (SIRA) with its wider customer decision platforms. Outcome Orchestration is allowing the insurer to create a much more sophisticated, efficient and strategically aligned risk mitigation solution. SITUATION This major insurer first deployed Synectics Solutions’ fraud prevention and detection application (SIRA) in 2013. Since the initial deployment the company benefited from SIRA’s effectiveness and derived marked improvements in its working practices and fraud strategy in the claims space. This helped the organisation save significant amounts of revenue by preventing fraud losses. The company’s SIRA solution was configured to deliver real-time alerts to its fraud management team. These alerts were then prioritised and screened for accuracy using Precision – Synectics Solutions’ predictive analytics and data science service. Due to a growth in customers, the insurer needed to realign its fraud and risk strategies and improve its ability to meet its commercial clients’ compliance thresholds. To achieve this the insurer introduced Outcome Orchestration (part of the Intelligence Hub from Synectics Solutions), to enhance and improve its fraud management capabilities.
Harmonising disparate data models and departmental needs into one solution to create a truly effective Financial Crime Risk Management (FCRM) platform has long been the desire of a range of financial services organisations. Can Sentinel from Synectics offer a cost effective solution to FCRM that delivers on the promise of ‘Platformification’ and create a truly single customer view of risk? A need for faster, agile, organisation wide systems Thanks to increased reporting on social media, the 24/7 rolling news cycle, and increased regulator demands, customers and investors of financial services companies are increasingly becoming aware of those organisations that repeatedly fall foul of fraud, financial crime, cyber breach or legal disputes with regulators. Such is the problem that regulators, such as the UK’s Financial Conduct Authority (FCA) in its 2019/20 business plan, are increasingly requiring financial services organisations to show that their FCRM intelligence is capable of being shared across their organisations. They are also starting to call out the need for these systems to go beyond slow, cumbersome (and often ineffective) manual processes to become more automated. This is to aid the reduction in costly post-event remediation activities that often fail to recover funds once acts of financial crime have been perpetrated.
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