Precision

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.

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.

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.”

Make informed customer decisions using predictive analytics

Benefits of using Precision

Benefits of using Precision

Preventative Fraud Strategy

Make fast and accurate automated decisions

Responsive to changing risks

Real-time analysis and results

Highly configurable to organisational risk strategy

Drive operational efficiencies with machine learning

Improve customer journey – identify and board good customers faster

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

Make fast and accurate automated decisions

Responsive to changing risks

Real-time analysis and results

Highly configurable to organisational risk strategy

Drive operational efficiencies with machine learning

Improve customer journey – identify and board good customers faster

Software as a Service (SaaS)– cost effective and easy to integrate with existing systems.

Predictive analytics – predicting future behaviour based on data:

£2 million

Saving during first year of deployment

50%

Improved boarding efficiency whilst increasing fraud detected by 30%

46%

Of customers couldbe fast tracked (<100 score)

Why us?

EXPERTISE & EXPERIENCE

FTSE 250

UNIQUE DATA

TRUSTED

AWARD WINNING

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

Preventative Fraud
Strategy

Make fast and accurate
automated decisions

Responsive to
changing risks

Real-time analysis
and results

Highly configurable
to organisational
risk strategy

Drive operational efficiencies
with machine learning

Improve customer journey
– identify and board good
customers faster

Software as a Service (SaaS)
– cost effective and
easy to integrate with existing systems.

Preventative Fraud
Strategy

Make fast and accurate
automated decisions

Responsive to
changing risks

Real-time analysis
and results

Highly configurable
to organisational
risk strategy

Drive operational efficiencies
with machine learning

Improve customer journey
– identify and board good
customers faster

Software as a Service (SaaS)
– cost effective and
easy to integrate with existing systems.

Saving during
first year
of deployment

Improved boarding efficiency
whilst increasing fraud
detected by 30%

Of customers could
be fast tracked
(<100 score)