Predictive Analytics Preventing Fraud - Precision | Synectics Solutions
Platform
Solutions
Industries
More ...
Discover how we have helped solve our clients' challenges across a range of industries

Turn data into actionable intelligence with a fully-hosted predictive modelling solution

Apply sophisticated predictive insight techniques across your data landscape and make fast, customer focused decisions that have been fully-evaluated against a multitude of risk, reward and compliance scenarios.

Reduce false positives and prioritise your remediation and investigation caseloads

Precision is proven to reduce false positives and enhances your ability to prioritise risk, remediation and other investigation caseloads so that you do not waste time needlessly investigating good customers.

A complete data science service and much more than just a software service

Precision offers a fully serviced data science solution that gives clients direct access to in-house data science experts to help them create, deploy and evaluate the most appropriate data science techniques to meet their requirements.

A web based solution that puts control in your hands

Access, customise and report on the performance of your predictive models at any time, to speed up your ability to successfully test, deploy and modify the most sophisticated models:

Powerful but simple-to-use online access

All the statistical models, predictive scores and performance reports in Precision can be accessed via and easy-to-use, intuitive web-based user interface.

Cost effective predictive insight

A privately hosted 'Software as a Service' (SaaS) solution with all the analytical capabilities and data science expertise you need without the investment in costly hardware or IT resource.

Integrate Precision with your own systems

Flexible API technology allows Precision's predictive scoring capabilities to be seamlessly integrated with your own systems.

Highly configurable to suit your needs

Customisable models ensure that any decision parameters or predictive scores are produced in line with a client's business strategy.

Batch and real-time
data

Capable of accommodating both batch and real-time data processing, responses can be incorporated into all customer engagement decision points.

Blend multiple data sources and leading-edge techniques

Incorporating a multitude of data sources and statistical models to enable clients to leverage the widest possible base of intelligence when creating their predictive models.

Our applications in action

Our people are helping to shape the future of what’s possible across all of the markets related to your business.
Read some of our case studies here.

Using ReCheck to Review Existing Social Care Payments Against Internal Records to Identify Fraud

ReCheck, from the Cabinet Office National Fraud Initiative (NFI) allows organisations to check existing customer records against the NFI’s comprehensive data sets. This case study demonstrates how ReCheck has enabled a council to proactively check and monitor changes in customers’ personal and financial circumstances, including death, to stop invalid or fraudulent claims. SITUATION Haringey Council is located in North London. It was created in 1965 by the amalgamation of three former boroughs and shares borders with six other London boroughs. Haringey’s economy reflects the borough’s communities - vibrant, diverse, and enterprising. Like all authorities the demand for support in the area of Social Care remains high and monitoring and management of Social Care budgets is vital as the Council demonstrate accountability towards protecting public services.

READ MORE

Collaborative, Cross-Sector Data Sharing To Enhance Fraud Prevention Strategies

This case study demonstrates why organisations should come together and share intelligence for collective benefit to combat fraud, risk and financial crime. A collaborative approach is vital when trying tackle potentially fraudulent activity. Fraudsters work across different sectors and so must those seeking to prevent fraud. This case study demonstrates how such a collaborative approach, across public and private sectors, to data sharing is starting to reap significant rewards. SITUATION Leading business insurer, QBE has been working collaboratively with Synectics Solutions for a number of years to combat fraud in the insurance sector. QBE use SIRA from Synectics Solutions – a sophisticated workflow management and data matching tool; and National SIRA – a leading database of known fraud cases, contributed to by over 130 organisations. In recent years, the insurer has sought to increase and enhance its automated fraud detection capacity using new methods and data sources. QBE wanted to identify additional sources of intelligence to help them spot more fraud across insurance applications. The fraud team also wanted to see an uplift in the amount of fraud detected for previously investigated cases, by retrospectively matching to records, previously marked as fraud. In particular, they wanted to look at exaggerated and fabricated, third party motor and casualty claims, to see if there was any correlation between fraudulent benefit and insurance claims.

READ MORE

Suffolk County Council recovers over £500,000 in overpayments using NFI Mortality Screening

The National Fraud Initiative, run by the Cabinet Office, helps Suffolk County Council identify overpayments to private residential care homes relating to residents that had previously passed away, but the home had delayed notifying the Council. Suffolk County Council now use ReCheck, another successful National Fraud Initiative fraud detection product, every six months to proactively identify and stop these overpayments. Just under £600,000 has been recovered so far. SITUATION Suffolk County Council is the administrative authority for the county of Suffolk and is split into five distinct directorates. Each directorate has responsibility for a range of services and statutory requirements such as: adult social care, children’s social care and public health, fire services and public safety, highways and infrastructure and professional services. The council takes part in the two yearly National Fraud Initiative (NFI) data matching exercise run by the Cabinet Office. This fraud prevention and detection exercise helps local authorities, such as Suffolk County Council, find and tackle fraud in the public sector and protect vital public services. The NFI enables Suffolk County Council to identify payments to private care homes for residents that had previously passed away. It is important for the council to identify and stop these payments before they impact departmental funding and public services. SOLUTION ReCheck, from the Cabinet Office allows organisations to repeat the two yearly matching at a time to suit them. This allows for more frequent checks against data sets collected as part of the NFI to reduce fraud and error.

READ MORE

Our innovative thinkers are helping to shape the future of what's possible across all of the markets related to our business

Find all of our white papers and thought leadership articles by clicking here.

Loading...

To better understand the capabilities of Precision and how they can benefit your organisation, please get in touch.




TALK TO US

Our bespoke three stage risk management, financial crime and fraud prevention platform:

App store

Configure and customise your platform with a comprehensive range of advanced and highly successful Apps to suit your specific needs.

LEARN MORE >

Data marketplace

Access industry leading data resources and enrich your own data with access to a wide range of third party intellligence sources.

LEARN MORE >

Intelligence Hub

Manage data complexity simply. We validate, cleanse and orchestrate your data, and transform increasingly complex data into easily managed formats.

LEARN MORE >

Talk to us

Ensure that your risk management, financial crime and fraud prevention strategy is the best it can be. Please fill out the form below and we’ll get back to you shortly.

  • *
  • *