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Make informed customer decisions using predictive analytics

Precision, our award-winning predictive analytics software, enables organisations to prevent fraud and make fast, automated, customer-focused decisions based on unique reference data and custom rules.

The powerful combination of data insight and predictive analytics enables organisations to leverage successful outcomes for onboarding, screening and risk-assessment activities – using fraud checks to group applications into risk cohorts to fast-track good customers and filter out bad ones.

Precision works by tapping into a wide source of relevant and timely data, including Synectics’ proprietary National SIRA risk intelligence database and public sector data from the National Fraud Initiative (NFI).

Plus, because Precision is delivered on a software-as-a-service model, it is very cost-effective and rules algorithms are bespoke based on each organisation’s risk strategy.

Precison-header

Benefits of using Precision

Benefits of using Precision

Preventative Fraud Strategy
Preventative Fraud
Strategy
Make fast and accurate automated decisions
Make fast and accurate
automated decisions
Responsive to changing risks
Responsive to
changing risks
Real-time analysis and results
Real-time analysis
and results
Highly configurable risk strategy
Highly configurable
to organisational
risk strategy
Operational efficiencies with machine learning
Drive operational efficiencies
with machine learning
Improve customer journey
Improve customer journey
– identify and board good
customers faster
Software as a Service (SaaS)
Software as a Service (SaaS)
– cost effective and
easy to integrate with existing systems.

Benefits of using Precision

Benefits of using Precision

Preventative Fraud Strategy
Preventative Fraud
Strategy
Make fast and accurate automated decisions
Make fast and accurate
automated decisions
Responsive to changing risks
Responsive to
changing risks
Real-time analysis and results
Real-time analysis
and results
Highly configurable risk strategy
Highly configurable
to organisational
risk strategy
Operational efficiencies with machine learning
Drive operational efficiencies
with machine learning
Improve customer journey
Improve customer journey
– identify and board good
customers faster
Software as a Service (SaaS)
Software as a Service (SaaS)
– cost effective and
easy to integrate with existing systems.

Predictive analytics – predicting future behaviour based on data:

The basis of Precision is world-class data insight from our syndicated cross-sector risk intelligence database National SIRA, which contains over 300 million records of reported fraud, combined with public sector data from the National Fraud Initiative (NFI).

Precision’s predictive analytics and AI capabilities use this data to identify patterns and behaviours that indicate risk. This, in turn, expands the range of risk-based decisioning possible – from whether or not to accept a new customer to deciding into which risk category (and therefore price) - increasing opportunities for automation and efficiency whilst minimising the impact on “good” customer experiences.

Group 605 (1)

Matt Gilham, Head of Financial Crime at Esure, said:

“While we already employed a range of procedures and technologies to identify claims fraud, Precision allows us to quickly implement enhanced, technical machine-learning capability to drive incremental benefit and improve operational efficiency through the seamless integration with our existing workflows.”

Desktop Section - Quote Precision
Precision Graphic - 50% improved

£2 million

Saving during
first year
of deployment
Precision Graphic - 46% Of customers

50%

Improved boarding efficiency
whilst increasing fraud
detected by 30%
Precision Graphic - £2 million

46%

Of customers could
be fast tracked
(<100 score)

Why us?

We have a great track record in delivering robust fraud & financial crime prevention solutions to our clients across a whole range of industries.

Precision Graphic - Experise and experience
EXPERTISE & EXPERIENCE

We have over 30 years' experience in fraud and financial crime prevention

Precision Graphic - FTSE 250
FTSE 250

We have helped the biggest names in financial services, insurance, retail, telecoms, vehicle rental and utilities

Precision Graphic - Unique Data
UNIQUE DATA

Our NFI and National SIRA data sets hold unique local authority data and the UK's largest syndicated fraud intelligence

Precision Graphic - Trusted
TRUSTED

Chosen and trusted by the Cabinet Office to manage their National Fraud Initiative (NFI) for over 25 years

Precision Graphic - Award Winning
AWARD WINNING

Our innovative solutions and approaches to fraud and financial crime prevention have achieved many awards

Get in touch to learn more about Precision or arrange a Proof-of-Concept