SAS Fraud Management is an enterprise fraud detection solution that monitors multiple channels and lines of business in a multi-tenant capacity on a single platform including payments and events.
Using optimized data analytics and machine learning, merchants, payment processors and the financial institutions can prevent fraud through real-time responses, as well as quickly triage the highest priority alerts, reducing negative impacts on customers.
SAS Fraud Management enables financial institutions and merchants to monitor all payment transactions in real time, maximize insights from external data, and understand fraudulent behavior patterns to make quick decisions on potential fraud to reduce the risk to their organization and customers.
As a real-time enterprise wide SAS Fraud detection system, SAS Fraud Management incorporates analytics and machine learning based on multiple data sources with a variety of detection requirements.
SAS Fraud detection lets you realize the much sought after but rarely achieved goal of preventing and detecting risk across the entire spectrum of fraudulent techniques that today’s criminals employ.
In addition to significantly reducing the potential losses from fraud and improving the customer experience, the SAS solution can also lower the operational costs of fighting fraud. It does this through a flexible, enterprise wide platform that responds faster to new threats as they arise, allowing businesses to deploy new fraud prevention strategies faster.
SAS Fraud Management Benefits
- Make faster and better informed, risk-based decisions.
As a 100 percent, real-time, enterprise wide solution, SAS Fraud Management lowers the operational costs of fighting fraud by responding faster to new threats as they arise.
- Increase operational efficiency.
Between call centers and alert management, the total cost of identifying a fraudulent transaction is high. By using SAS Fraud Management’s self-adapting technology and data hub, you can prioritize alerts and lower false positives, saving your organization time and money.
- Reduce revenue loss.
Find fraud early through the embedded industry-leading machine learning capabilities that allow you to adapt to changes in customer transactions and fraudulent behavior. Our approach significantly improves the industry KPIs for value and case detection rates by scoring 100 percent of transactions in real time minimizing your losses.
- Achieve high levels of customer satisfaction.
False positives resulting in declined transactions can severely affect customer satisfaction. With data analytics and machine learning from SAS, you can quickly identify in real time the highest priority alerts and the most critical risks that justify review to reduce the potential negative impacts on customers.
- 100% real-time scoring and decisioning
SAS delivers in-memory processing to achieve the banking industry’s highest throughput and the lowest latency of response, handling any data in real time.
- Enterprise solution on a single platform
With SAS you can share a single installation of the solution among independent departments within an organization – known as a multi-tenant configuration.
- SAS Business Orchestration Services
SAS Business Orchestration Services is intelligent middle ware designed to support real-time/millisecond request and response event/message processing.
- Simplified data management
Integrate all your data whether internal, external, third party or from multiple sources with one solution that’s flexible enough to handle it.
- Integrate device data for a full analytical approach
SAS partners with external data providers to provide SAS Fraud Management customers a full analytical approach to solving payment and identity fraud.
- Advanced analytics and machine learning
The solution uses the power of SAS advanced analytics to generate real-time responses, allowing decisions that minimize risk. Embedded robust profiling and machine learning capabilities allow you to adapt to the changes in customer transactions and fraudulent behavior.
- Alert management
From a single screen, handle alert resolution, manage the payment and risk decisions, perform hot listing and blocking, and conduct downstream fulfillment actions. Users can search, create, investigate and triage the alerts; add memo notes, blocks and other actions; and apply transaction-level fraud markers.
By indexing relevant machine data and correlating and searching on it to identify the patterns of fraud, an organization can detect and alert on fraud in real time. Locus IT provides such SAS Fraud Analytics services like SAS Fraud Analytics training, SAS Fraud Analytics support and SAS Fraud Analytics implementation. For more information please contact us.