Banking and Financial Services Solution
CENTRALIZED INTEGRATION OF STRUCTURED AND UNSTRUCTURED DATA TO CONTINUOUSLY DETECT AND PREVENT THE EVOLVING FRAUD
Safeguard the Digital Banking Revolution
Millenials, emerging markets, and the historically underserved customers have been driving adoption of digital banking. While fraudster view digital banking as an attractive target, proper safegaurds can elevate its security above that of traditional channels. Not only can Simility reduce fraud, but we go a step further and develop fraud-sensitive flows to reduce friction to good users.
Simility provides an End-to-End Fraud Prevention Platform that has the ability to take virtually unlimited structured data feeds from across the enterprise and use advanced machine learning and data visualization techniques to detect fraud.
SECURE AND FLEXIBLE DEPLOYMENT
- Simility’s flexible architecture allows you to select the deployment that is the right fit for your business needs while providing you the peace of mind that we have appropriate policies and strategies to protect your data.
- You can host the Simility solution on-premise or in a virtual private cloud or in Simility’s multi-tenant cloud.
- Simility’s products and services are built to meet stringent PCI DSS and SOC 2 compliance requirements.
INFORMATION INTEGRATION HUB
- Ingress structured and unstructured data at big-data scale from across your organization and transform it into relevant information to perform unified analysis.
- Easily integrate with third party APIs for identity check, address verification, Positive Pay, etc.
- Device Recon technology provides intelligence about user’s authenticity and risk.
- Full mobile and web browser capability; in-session monitoring detects suspect activities.
DETECTION COMBINES MACHINE LEARNING AND MANUAL RULES
- Adaptive machine learning models are customized for your use case and evolve with the changing nature of fraud.
- Your analysts can create, edit and test new rules in minutes instead of weeks with our easy to use Rules UI.
DATA VISUALIZATION ENABLED HUMAN ANALYSIS
- Visual Graph Analysis allows Analysts to link users and payments via entities like phone number and IP addresses, thus saving weeks spent working through spreadsheets.
- Personalized case management, flexible UI and activity dashboards highlight relevant information for fraud analysts, reducing manual review time by up to 50%.
- Our Data Scientists provides you the option to extend your team, on an “as needed basis”.
- Data Scientists help with model building, tuning, governance and validation. Fraud trends change over time, and this option keeps your models performing at optimum levels.
CASE STUDY – MOBILE BANKING FRAUD
A San Francisco based mobile-focused bank targeting millenials grew successful by differentiating itself with features like no monthly fees, minimum balance requirement, or overdraft fees. When the bank needed help with mitigating fraud, it turned to Simility.