Fraud Detection & Prevention
Exploit the Power of Complex Event Processing to Stop Fraud
As the speed of transactions increases, so does the sophistication of the fraudulent activity that is underway across many industries. With an abundance of data flowing in and out of businesses, is has become much more difficult to stop fraud, and your business can be vulnerable. Whether it's check fraud, credit card fraud, or corporate fraud and theft, the problem can be found in every industry. There is no end to the creativity of those who engage in fraudulent activity, so how can you keep up with the latest efforts to harm your business?
The Pitfalls of Traditional Fraud Detection
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).
Spot Fraud in Real-Time and Take Immediate Action
The Progress® Apama® Event Processing Platform leverages the power of complex event processing (CEP) to spot potential fraud patterns in point-of-sale (POS) activities in real-time. You can reduce risk and lower costs by identifying conditions that negatively hit your bottom line because the platform offers the means to intercede before the damage is done. As fraud schemes change, Apama tools allow you to quickly create new detection rules or to alter the parameters of existing ones to keep apace.
Here are some more features of Apama that will help you effectively combat fraud:
- Highly interactive, graphically-rich dashboards that show view information in an intuitive display consisting of customizable real-time charts, graphs, and dials.
- An integration environment that allows monitoring data to be connected with different middleware systems, applications and other endpoints without disrupting the current IT infrastructure.
- Development and testing tools that can rapidly create, test and evolve monitoring scenarios, without lengthy development cycles that risk being too late.
- New fraud detection rules can be created in minutes or hours
- The ability to create customized capabilities like the correlation of real-time event data with video surveillance systems, with playback support for auditing, simulation, and root-cause analysis.
