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Counter financial fraud effectively

Keeping one step ahead of fraudsters is a challenge to the banks at the best of times. In today’s changing environment, when it comes to countering financial fraud, banks need to ensure that they have the most sophisticated fraud management platform which will enable them to maintain a state of the art library on potential fraud scenarios. Combat implements such a comprehensive library of scenarios in tracking fraudulent behaviors.

Scenario

With the introduction of real time and near real time payments, banks have a split second window to screen transactions for fraud patterns

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Challenge

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Increased customer base and reduced screening time demands racer sharp, high performance screening mechanisms.

Solution

Combat real time and near real time screening solutions offer accurate and in a flash transaction screening capability.

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How can Evolvus assist in combating financial fraud?

Combat is a comprehensive Anti-​money ​laundering and ​fraud management platform which can work integrated with transaction systems and analyse patterns real time. Combat can also work on transaction data store​s and identify suspicious transactions. Both use common proprietary pattern recognition libraries to identify suspicious activities​ to near accuracy.

Benefits

Compatibility with multiple core banking systems.
Consultants with financial and banking background complemented with technical experience.
Expertise with industry standard tools, inhouse tools, Java, AS400, UNIX, etc. for ETL.

Why Combat

KYC
Combat KYC can include scenarios and data structures specific to the region or country to analyse sufficiency of KYC compliance of customers or beneficiaries.
Transaction monitoring
Transaction monitoring is enriched through extensive scenario libraries developed over years of industry experience. The workflow offers flexibility to work on alerts with agility and comprehensive knowledge.
Watch-List screening
Combat’s proprietary screening algorithm ​enables banks to screen transaction messages against watch lists at rapid pace enabling real time screening capability to financial institutions.
Regulatory reporting
Regulatory reporting is enabled to cover a wide-range of FIU reports as required by the local regulators.
Combat has the additional capability to generate ad-hoc reports as required by management to review the compliance status within the institutions.

For information about Flux product and services from Evolvus, contact us at info@evolvussolutions.com