One of the global leaders in fraud prevention software and systems is celebrating after securing a new client in a deal which has positive repercussions for a much wider community.
Synectics Solutions has agreed a contract with ThinkSmart which sees the intermediate finance company able to fully access their SIRA fraud prevention and detection solution, bringing together a variety of machine learning algorithms with comprehensive workflow management.
As a SIRA client, ThinkSmart joins over 93 other leading companies and organisations across the insurance, banking, retail, and telecommunications sectors which use National SIRA to collaborate and share data to stay ahead in the fight against organised crime and fraud.
Mark Ross, Credit Risk Manager at ThinkSmart explained: “With the integration of the SIRA platform into the ThinkSmart credit decision engine, we now have the tools and functionality to adapt to the very latest fraud threats with the immediacy needed for real-time application processing. The user interface included as part of the delivery is intuitive and easy-to-use, and is an effective fraud prevention tool within our operational teams.
“During the delivery of the SIRA platform, Synectics Solutions were supportive and flexible in their approach, assisting us with the design and implementation of an industry-leading fraud prevention system which will help us minimise our fraud losses, whilst increasing the proportion of applications that can be auto-accepted with the confidence that they are from genuine customers” he added.
ThinkSmart’s differentiated products cover multiple sectors and are made available to retailers at point of sale, in-store, online and through contact centres. Focused on creating value and advantage, their products have transaction values from £250 to £15,000.
Ed OKeef, SIRA Project Manager at Synectics Solutions, added: “ThinkSmart had some solid ideas of what they wanted to achieve from their fraud strategy, and we’re excited about the value they will bring to future National SIRA Steering Group meetings. ThinkSmart’s team were really engaged with the whole boarding process, and as a result they’re sure to hit the ground running and really get the best out of the product.”
About the SIRA fraud prevention / detection solution
SIRA is Synectics Solutions leading fraud prevention and detection solution, already deployed across many leading banking, insurance and other financial services companies in the UK and internationally in Canada, the USA and Australia. Its powerful data services architecture accommodates both batch and real time data processing and allows users to access, interrogate, and analyse one of the most significant syndicated fraud intelligence data sources available. As a fully hosted and managed solution SIRA provides its members’ with a truly innovative and flexible hub of intelligence to help them combat financial crime and fraud.
About Synectics Solutions
Synectics Solutions is a pioneering data solutions and software development firm which has been providing cutting-edge software products to clients across the finance, insurance, automotive, public sector, and private sectors for over 25 years. Focused on fighting crime and protecting clients against fraud, its products are able to spot patterns and identify networks invisible to the human eye.
For more information about Synectics Solutions, please call 01782 664000, email [email protected]
or visit www.synectics-solutions.co.uk