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Fraud detection and prevention | Software AG

Fraud detection and prevention used to be about looking at historical data—poring over records to spot potentially fraudulent behavior in the past. In today’s digital world, fraud detection and prevention is all about stopping fraud in the moment or even before it happens. Today’s automated fraud management solutions enable companies to identify unusual patterns of behavior consistent with fraudulent activity, and freeze the transaction before it is completed.

The challenge for fraud detection and prevention today is the sheer volume of data that institutions must process during real-time fraud monitoring. When you have massive amounts of data in motion and less than one second to flag and stop a potentially fraudulent transaction, it takes a pretty powerful fraud prevention and detection solution to manage the tasks successfully. After all, the typical 99.7% Service Level Agreement (SLA) means 0.3% of transactions may be missed, adding up to millions of dollars per year for large financial institutions.

Fraud detection and prevention with Software AG

Software AG solves this fraud detection and prevention problem with state-of-the-art technology that can capture 99.995 percent of transactions. Built with the world’s fastest Complex Event Processing (CEP) engine, our fraud detection software uses in-memory data storage to reduce time-to-detection and to process transactions more quickly.

Fraud detection and prevention analytics review customer transactions and search for patterns of behavior that typically suggest fraudulent activity. These include things like the location, size and frequency of the transaction, as well as more sophisticated metrics based on customer history profiles. By keeping the list of suspect behaviors in-memory rather than requiring a database query for each transaction, our fraud detection and prevention system enables faster processing of massive amounts of data in motion from various data sources.

In addition, our solution provides:

  • Real-time and batch data integration
  • Out-of-the-box alert scenarios
  • Fully audited workflow and case management
  • High-performance scenario testing tools
  • Rapid roll out
  • Pre-defined reports for investigations and operational performance

Why choose fraud detection and prevention solutions from Software AG?

Software AG fraud detection and prevention tools enable you to:

  • Detect and stop fraud in real time across banking channels
  • Handle large volumes of data at high speeds
  • Store relevant data in-memory for low-latency responses
  • Create tailored fraud detection rules
  • Rapidly apply new rules to address new fraud techniques
  • Monitor fraud investigation efforts to increase operational efficiency

In addition to fraud detection and prevention solutions, Software AG also provides solutions for market and trade surveillance to prevent market manipulation.

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