SAP Fraud Management and SAP Fraud Analytics improves prevention of anomalies to mitigate fraud risk and reduce losses with powerful Big Data screening software from SAP. Scans the large volumes of data in real time with increased accuracy to prevent and detect fraud and errors. SAP BIS (Business Integrity Screening) is available for use on-premise or in the cloud.
Fraud detection is a challenging problem. The main fact is that fraudulent transactions are rare and they represents a very small fraction of activity within an organization.
The challenge part is that a small percentage of activity can quickly turn into a big dollar losses without the right tools and the systems in place. This software helps you to identify anomalous activity quickly by using flexible rule sets and predictive analyses that can help to uncover potential fraud patterns.
- Cloud or on-premise deployment
- Anomaly detection and compliance checks
- Alert investigation
- Risk identification using predictive analytics
SAP Fraud Analytics Key Benefits
- Minimise fraud risk
By protecting revenue, reduce losses through fraud by screening high volumes of transactions for anomalies.
- Identify suspicious patterns
Use behavioral analytics to investigate and detect suspicious patterns so you can take steps to mitigate future fraud risk.
- Increase productivity
Use the powerful analytics capabilities that reduces false positives, improving productivity for investigative teams.
- Exception detection and compliance checks
Receive alert notifications for exception scenarios that are relevant to your organisation such as corruption, employee theft, incorrect transactions, or warranty fraud.
- Calibration of detection strategies
Refine your detection strategies using simulation and calibration features to perform what-if analyses on historical data, and assess which approaches are the most effective.
- Prevention and deterrence
Analyze exception scenarios to understand how to prevent re-occurrence and determine which approaches are the most effective in deterring fraudulent and anomalous activity.
- Business partner screening
Avoid doing business with high-risk or sanctioned parties by screening against lists from international organisations, government agencies, and private content providers.
SAP Fraud Management
SAP Fraud Management is a solution for investigating, detecting, and preventing fraud. Powered by SAP HANA, this solution can be used in any industry, including Banking, Public Sector, Health-Care, Utilities, and High-Tech.
The main advantages of SAP Fraud Management are as follows:
- Early fraud detection by using the power of SAP HANA and integrating into the business processes
- Quick investigation using efficient alert management
- Continuous improvement of detection accuracy by minimizing false positives with real-time simulation and calibration capabilities on ultra-high data volumes
- Fraud prevention using predictive analytics in-memory and rules to react to permanently changing fraud patterns
SAP Fraud Management enables you to create detection strategies that support the power of SAP HANA to sift through ultra high volumes of data for clues of fraud with rules and predictive algorithms. We at Locus IT provide SAP Fraud support and services. For more information please contact us.