Account takeover (ATO) fraud continues to be one of the most challenging fraud types affecting all online businesses. Because it targets real user accounts, ATO is less likely to raise the suspicions of available security solutions. Simility’s state-of-the-art AI-based user profiling system can help you nail this down—all via a simple integration with its intuitive SDK and APIs.
Data hacks, security breaches, and outright theft have made personally identifiable information (PII) for millions of customers potentially available to identity thieves. Vast numbers of compromised PIIs along with new EMV-chip-enabled cards have led to the dramatic growth of new account fraud. This not only affects the individuals whose identities are stolen, but also the businesses who suffer losses in money, future business, and consumer goodwill.
Wire transfers are the fastest way to move funds to another business, person, or recipient for immediate access, making such transfers an especially attractive target for criminals. Fraud through wire transfers is fairly simple, considering all that’s needed is an account number and bank routing number. Wire fraud costs organizations money, but perhaps even worse, it can lead to eroding brand reputation and diminished customer loyalty.
With Simility, financial institutions can stay ahead of the fraudsters, stopping suspicious account activity in real time.
Criminals across the globe are using sophisticated methodologies to commit financial crime. Institutions cannot risk damage to reputation, client trust, and market share from this financial abuse and illicit activity. Simility’s AML solution combines the power of standard rules with advanced machine learning techniques and provides customers with a transparent view of the risk via a user friendly, highly optimized workflow.
With mobile check depositing, banks and financial institutions have made it quicker and easier than ever to get money into customer’s accounts. However, fraudsters are trying to benefit from mobile deposit convenience and check clearance delays, resulting in increased losses for financial institutions.
Simility’s adaptive fraud-prevention solution is tailored to detect and prevent fraud via mobile remote check deposits.
Business complexity, along with increased regulatory and market scrutiny, is driving organizations to adopt a structured approach to governance, risk, and compliance (GRC).
Simility allows customers to significantly reduce costs by eliminating manual processes while making the review more continuous and near real time.
In today’s high speed and sophisticated trading environment, market conditions and regulators are increasingly requiring exchanges, broker-dealers, and investment firms to proactively implement advanced trade surveillance tools. Unfortunately, most organizations use legacy systems that don’t easily ingest important new data feeds, and they suffer from hard-to-use rules-based technologies. Perhaps worse, these legacy systems are unable to deal with emerging threats–the unknown unknowns that pose some of the greatest dangers.
Deploying the latest technologies is crucial for organizations to effectively and efficiently detect any breach of internal controls or policies that may lead to unlawful trading.
Simility is a highly sophisticated, yet easy to deploy and use analytics platform designed specifically to detect unauthorized transactions. It automatically ingests both structured and unstructured data, transforming and enriching it to help exchanges, brokers-dealers, and investment firms quickly identify and manage potential risks of market abuse. Our real-time approach to monitoring, analytics, alerting, and reporting automates manual processes and helps organizations meet their policy mandates and regulator obligations with confidence.
Simility easily ingests pertinent data from virtually any feed, and seamlessly integrates with your existing monitoring and compliance solutions. Simility helps companies: