Enterprise Fraud Management (KEFM)

Kognitive Enterprise Fraud Management Solution is a real-time intelligent solution that combats sophisticated fraud in real-time. It monitors suspicious activities in real-time, and ensures that right decisions are taken at the right time. Kognitive EFM is designed to meet fraud detection, investigation, prevention, monitoring compliance, and audit needs of banks.

KEFM provides an electronics barrier for any type of fraudulent transactions emanating from any online channel, enabling enterprises to accept more orders, and help protect and grow businesses. KEFM detects a full range of payment fraud for any business and industry. Our real-time machine learning powers automated decisions to stop fraudulent behavior proactively and stay ahead of emerging trends. KEFM provides your team with sophisticated tools needed to detect fraud and work more efficiently.

Core banking is one of the most important channels for banking since the bulk of highvalue transactions pass through it. Most of the core-banking transactions are monitored postfacto that leaves enough room for fraudsters to get away with the fraud. KEFM Real-time Transaction Monitoring solution protects banks against core-banking frauds like customer, account and employee level frauds. It makes use of real-time intelligence and predictive analytics to detect and stop/hold suspicious transactions as they happen in the core banking system.

Advantages

Reduced sophisticated fraud across channels
Reduced false positives
Lower operational costs
Regulatory compliance
Shields your bank from all core-banking frauds

Perpetual monitoring of financial & non-financial inquiries
Reduced reputational loss due to fraud
Improved customer loyalty and advocacy
Aids regulatory compliance and auditing
Integrated fraud risk reports & dashboards

Real-time fraud risk advice established on bank policies with the help of Decision Strategy Manager
Pre-packaged scenarios to prevent ATO, Money Mule and Mandate Fraud
Integrated advanced Case Management based on behavioral patterns

Data Flow

Highlights

Implemented successfully in large banks
The tool sources transaction data from various channels such as RTGS, NEFT, IMPS, CHEQUE, POS, CASH, ATM, UPI, etc.
Combats cross-channel, cross-product fraud (internal fraud, identity theft, ATO, credit card fraud, CNP fraud, etc.) across the bank
The tool sources transaction data from various channels such as RTGS, NEFT, IMPS, CHEQUE, POS, CASH, ATM, UPI, etc.
Transactions are analyzed and behaviors are identified based on the bank defined rule sets
The alert message processing module kicks into action based on the analyzed behavior, thus generating timely alert
Relevant parties are notified as per the respective rule set
Monitors financial and non-financial core-banking transactions with cross-pollinated intelligence gathered across all other channels
Provides real-time alerts on employee fraud such as unauthorized customer account access, repeated charge waivers to customers, high volume TOD issues, etc.
Monitors all transactions and alerts the department concerned of any fraudulent pattern identified or of any potential fraud threat
Prevents suspicious transactions from advancing and creates cases for the Fraud Investigation Team