Oracle Fraud Analytics offers a centralized fraud management platform that allows institutions to rapidly detect and prevent complex fraud schemes that cross products and channels.
There is no shortage of ingenuity when it comes to financial fraud and crime. We see this day-by-day as fraudsters continuously adapt their approaches and methods in an effort to stay one step ahead of the law and the latest detection technologies.
The complexity, velocity, and the expanded opportunity for financial crime require financial services organizations to rethink and retool their approach to fraud management. Enterprise wide and Real time define the gold standard toward which todays firms aspire and this can be accomplished with Oracle Financial Services Fraud. Oracle Financial Services Fraud helps financial institutions to improve
- Gain a centralized view of suspicious events across every channels and products to detect new fraud schemes and entry points.
- Obtain an integrated view of all fraud activity with an Event Correlation engine and advanced Alert to uncover hidden relationships and trends.
- Identify fraud events and avert losses with interdiction and real-time monitoring through Oracle Financial Services IPE (Inline Processing Engine) built on the powerful and market leading Oracle Fraud Analytics Applications Infrastructure.
Leverage Advanced Analytical Capabilities
Oracle Fraud Analytics utilizes advanced analytical capabilities to react to complex and emerging fraud patterns; this provides better customer protection with fewer account interruptions through targeted alerts and reduced false positives.
With this type of application you can build flexible, standardized, and scalable processes that are customizable and can be updated to meet emerging fraud patterns. This helps the investigators to focus on the most urgent and actionable alerts with complete transparency and auditability.
Monitor and Manage Fraud and Performance
Oracle Financial Services Fraud provides a transparent, unified and flexible investigation and reporting analytics platform to manage and monitor fraud and performance across the enterprise.
Users can track recoveries, losses and settlements throughout the entire fraud lifecycle with interactive drill- down capabilities, dashboards, and ad-hoc intelligent reporting from Oracle Business Intelligence. This enables the management to have on-demand and real-time access to the information, allowing them to make informed decisions.
Comprehensive Fraud Coverage
Combat fraud with a comprehensive fraud coverage is a set of pre-built scenarios from an industry proven financial crime library used in over 70 countries.
- Instantly deploy fraud scenarios covering by identity theft, account takeover, employee or insider fraud, online fraud, electronic payments fraud, check and deposit fraud and ATM or debit card fraud.
- Analyze behavior patterns and detect anomalies with multiple detection methods including Text Mining, Link Analysis and Profiling to uncover fraudsters more quickly.
- Scale up to meet changing fraud prevention needs risk models and user configurable scenarios, easily meet existing requirements and emerging fraud schemes.
Focus Investigations to Reduce and Prevent Fraud Losses Using Oracle Fraud Analytics
Intelligently focus investigator attention on the most actionable and urgent fraud alerts to prevent and reduce losses from high-exposure activities.
- Manage investigations from initial alert through G/L reconciliation with Enterprise Case Management that is holistic, contextual and built for financial crime management
- Drill-down capabilities, Interactive dashboards and ad-hoc, intelligent reporting from Oracle Business Intelligence tracks losses, recoveries and settlements throughout the entire fraud lifecycle.
- Open architecture provides easy integration with legacy systems and point fraud solutions to ensure complete and consolidated coverage of exposures and risk.
Maximize Customer Trust and Reduce Reputational Risk
- Provide good customer protection with fewer account interruptions through targeted alerts and reduced false positives.
- Meet and explain guidelines, emerging regulations and customer expectations. Make security a competitive differentiation.
“Future-Proof” Your Compliance Investment Using Oracle Fraud Analytics
Oracle Financial Services Fraud operates within the OFSAA (Oracle Financial Services Analytical Applications) suite for Compliance Management and Financial Crime, the first comprehensive set of applications to meet the particular needs of the financial services community.