FraudSuite360

FraudSuite360TM is an advanced fraud and risk monitoring solution designed to provide real-time actionable insights through cutting-edge machine learning and enhanced behavioral analytics. According to the vendor, this solution is widely adopted by global acquiring and issuing banks, payment processors, fintech companies, and payments institutions to detect suspicious activity and anomalies with a high level of accuracy, effectively reducing fraud and enhancing user experiences.

Key Features

360-Degree Insights: FraudSuite360TM aims to provide comprehensive insights in a single solution, enabling fraud and risk teams to efficiently manage diverse portfolios and identify potential merchant risks. It integrates internal and external third-party business and risk data, leveraging resources such as CRM, KYC, AML, and Dark Web data to facilitate informed decision-making.

Advanced Machine Learning: The vendor claims that FraudSuite360TM utilizes sophisticated machine learning algorithms and data science techniques to analyze raw data and models against a vast repository of historical patterns. This empowers the system to effectively detect deep fakes and sophisticated multi-channel fraud, ensuring accurate fraud detection and prevention.

Enhanced Behavioral Analytics: FraudSuite360TM leverages advanced behavioral analytics to analyze user behavior and identify anomalies that may indicate fraudulent activity. This feature significantly reduces false positives and enhances the overall accuracy of fraud detection.

Real-Time Monitoring and Alerting: According to the vendor, FraudSuite360TM provides real-time monitoring and alerting capabilities, empowering fraud and risk teams to promptly track security bank fraud, suspicious transactions, and individual merchant performance. The system automates alert generation, reporting, and analysis, enabling proactive fraud prevention and risk management.

KYC and Compliance Checks: FraudSuite360TM offers robust KYC (Know Your Customer) and compliance checks to ensure adherence to regulatory requirements and mitigate risks associated with fraud and financial crime. It facilitates effective management of PSD2-related PISP exemptions and reporting across all channels.

Risk-Based Authentication: The system enables risk-based authentication challenges, triggering 3DS/SCA flows to authenticate high-risk transactions in real-time. This feature helps safeguard revenue by accurately identifying and declining high-risk transactions while ensuring a seamless user experience for legitimate transactions.