Fraud Prevention Solutions in Enterprises | Synectics Solutions

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Discover how we have helped solve our clients' challenges across a range of industries

preventing fraud at the
point of application

The ultimate goal of those tasked with preventing losses to application fraud or other financial crime is to stop it from penetrating their company’s defences in the first place, at the point of application. It’s widely accepted that this approach is far more effective than detecting it once it has already penetrated your organisation.

By deploying the right combination of applications and data sources from our FCRM platform it’s possible to achieve an effective multi-layered fraud prevention and detection solution that delivers a fraud defence capable of dealing with the most challenging aspects of application fraud much earlier.

ONLINE APPLICATION FRAUD IS RISING

9/10 fraudulent applications for all financial products are made online

GAIN A 360° VIEW OF APPLICATION FRAUD

Prevent losses associated with financial crime by integrating data matching, network analysis and predictive analytics

IDENTIFY FRAUD IN ONLINE APPLICATIONS

Identity fraud is a growing issue as the nature of fraud and financial crime evolves

Benefits of deploying an enterprise fraud prevention system

In order to be successful, companies need to adopt a multi-layered approach to addressing fraud that helps them identify and address the complex nature of criminal organisations, or individual opportunists, who are looking to perpetrate fraud - without compromising competitiveness.

By integrating services like data matching with network visualisation and predictive analysis it’s possible to achieve a fraud prevention and detection matrix that delivers a defence capable of dealing with the most challenging aspects of financial crime to prevent fraud and predict risk much earlier.

HOW OUR PLATFORM HELPS YOU PREVENT APPLICATION FRAUD

By utilising our FCRM platform, you will be able to pick and choose from a number of plug 'n' play applications designed specifically to detect and prevent fraud. Additionally with access to the Synectics ‘Data Marketplace’ you will be able to seamlessly enrich your own local intelligence with a wide variety of industry leading private, public, proprietary and open source data services to further enhance your ability to defend against fraud.

Synectics' modular approach to financial crime and fraud risk management enables you to integrate some of our key applications including SIRA , Orion and Precision to offer an industry leading, cost effective approach to fraud defence.

SIRA

SIRA and the National SIRA database offers one of the most comprehensive and up to date fraud detection and prevention solutions available. Leveraging the analysis that the National SIRA database provides means that clients are able to derive some of the most accurate cross sector fraud insight when vetting their customers.

Precision

Precision’s enhanced suite of data modelling and predictive analytics capabilities allows you to leverage the latest in data science, and enable your team to become better at identifying fraud, reducing false positives - ultimately becoming much more effective at predicting risk before it impacts your business.

Orion

Orion is a proven network visualisation solution that has been built with fraud detection and prevention at its core. It has a range of out-of-the-box functionality that will quickly get your investigation team able to deal with and prevent complex, organised fraud quickly and effectively.

We have discovered that the machine learning, risk scoring and prioritisation capabilities of precision could help reduce our losses to fraud by as much as 60%, whilst at the same time reducing the number of investigations by 50%.
Gareth Bentley, Financial Crime Manager

Our thinking

Read a range of articles and reports, all crafted by the experts at Synectics Solutions, where you can uncover the latest insights and trends in your sector, and understand how developing technologies are shaping today’s organisations.

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