Fraud
From the very beginning of commerce, the challenge has been to detect - and better yet prevent - fraud. With recent technological advances providing consumers with easy on-line access, the challenges are only growing. Fraud has become much more difficult to detect and stop. Whether it's check fraud, credit card fraud, or corporate fraud and theft, the problem can be found in every industry. And every business is vulnerable.
Traditional Fraud Detection: Looking in the Rear-View Mirror
Traditionally, fraud detection has leveraged a "static" computing model that stores transactional information and queries the data for patterns of potential abuse. That's a good news/bad news situation. Good (the fraud can be detected), but bad (only long after it has already happened).
Complex Event Processing: Transforming Detection into Prevention
The Progress Apama Event Processing Platform enables fraud detection and prevention in real-time. Apama flips the traditional computing model on its head and lets applications monitor, analyze, and act on streaming events. With Apama, you can intercede while the actions are happening, when the damage of fraud can be prevented.
Complex Event Processing (CEP) allows fraud applications to identify patterns of potential abuse ("4 credit card transactions have been issued against the same card in 3 different geographies in the last 10 minutes") that suggest fraud. And with Apama, you can implement rules that take action to mitigate the damage.
BAM Dashboards: Global Visualization of Event Patterns
Apama's event-driven BAM dashboards are an ideal way to visualize and monitor business operations and detect patterns of abuse. With its graphically rich, easily customized real-time charts, graphs, and dials, Apama dashboards offer a highly intuitively interface that allows users to monitor operations and quickly detect potential fraud activities.
+ Larger View - Sample Dashboard: Monitoring Questionable Trading
Event Data Management: Auditing, Simulation, and Fraud Pattern Analysis
Apama's EventStore capture all events and trending information to detect patterns that suggest fraud, with playback support for auditing, simulation, and root-cause analysis. Additionally, Apama's integration adapter framework enables it to be integrated with other "traditional" fraud detection solutions (SAS, Fair Isaac, etc.)
Rapid Fraud Detection Rule Creation
Apama's Event Modeler and Dashboard Studio allow fraud detection rules to be created in minutes or hours, rather than language-driven, IT-dependent CEP "engines" whose lengthy development cycles practically guarantee that your detection rules will be lagging behind the latest threats to your organization.
For more information on the Apama architecture, visit the Apama Event Processing Platform.
Deployed across multiple industries for a range of applications, Apama can monitor, analyze, and act all kinds of transactional information and identify patterns of potential abuse, in real-time.
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