Fraud Reduction Early Detection

FRED is a self-optimizing machine-learning capability that provides fraud protection across all payment channels.

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FRED is a self-optimizing machine-learning capability that provides fraud protection across all payment channels. FRED helps Financial Institutions to apply a highly effective defense, in a rapidly changing technology landscape against sophisticated fraud. With an advanced risk ranking algorithm, FRED will transform unstructured data into useful intelligence that ensures accurate decision-making.

FRED Addresses Several Common Industry Problems

  • Challenges of buying, deploying, training, and managing separate technology platforms for different needs (e.g., products/instruments/portfolios including debit and credit cards, checks, ACH / Wire, etc.)

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  • Barriers to using state-of-the-art, data-driven decision-making systems using smart rules, ML and AI, in fully automated real-time response settings, or in conjunction with manual submissions guided by data insights

  • Information silos that are disjointed and do not talk to each other, preventing a single version of information, either across the board or in a single view of customers’ transactions across products/portfolios

  • Lack of easy access to customer behavior with respect to debit, credit, and retail banking as a means to identify emerging trends

Cross Channel / Omni-channel Monitoring

FRED connects all the various products of the Financial Institution using a unique membership ID for each member/owner of the business and applies all the transaction data from these various sources to provide Cross Channel Fraud prevention on a single platform.

Add New Rules

This feature allows the Fraud Manager to add new rules and bypass the time required to code and deploy new rules. By creating new rules on an immediate basis, FRED becomes much more effective in managing emerging fraud trends.

Automated Decision-Making

Options include a real-time, fully automated decision capability (based on data-driven rules, scoring models, and ML/AI algorithms) as well as manual case management.

Dynamic Decision Matrix

Decision Matrix provides FRED with an auto decision capability. The dynamic nature of the decision matrix allows it to be configured and reconfigured based on real-time analysis & fraud trends.

Dynamic & Multi-Tiered Rule Engine

FRED deploys a Scoring, Blocking, Bypass, and Main Rule Engine, where data-driven rules, models, and algorithms are deployed. The rules can be changed in real-time to properly address the dynamic nature of fraud. FRED comes with a comprehensive base set of rules which can be modified to meet the specific requirements of each Issuer.

Automatic Email Alert

The system has the capability to send automated emails to key personnel on the Issuer side when a transaction is deemed suspicious. This feature allows the Issuer to take immediate, proactive steps to address potential fraud situations.

Exportable Reports

The reports can be exported to various formats such as excel, pdf, WORD, etc.

FRED Is a Smart Solution For Cross-Channel Fraud Mitigation

Credit Cards

Credit/Debit Cards

cheque

Check/RDC

online-transfer

Online Transfer

ACH

ACH/SDACH

Mobile Payment

Mobile Payment

Wire Transfer

Wire Transfer

Competitive Advantage Through Operational Excellence

We believe driving operational excellence is the pathway to digital transformation and competitive advantage. To help clients achieve that goal, we combine technological innovation with data-driven insights and human expertise. Our solutions and services can be customized to meet the needs of financial institutions of all types and sizes.

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info@quinteft.com

Call us | (646) 813-0694

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