Fraud Management

Online e Mobile Banking

Online and mobile banking fraud prevention for retail and commercial banks
From malicious malware to sophisticated phishing schemes, banking institutions are under constant, multi-channel attack. By leveraging the strength of using multiple data sources and supervised learning technology, RiskShield provides a robust, agile solution with superb fraud detection results that are accurate and reliable.
Criminals are increasingly turning to online fraud as more traditional channels become increasingly better protected. Fighting online bank fraud requires speed and flexibility. Real-time crime requires real-time detection in order to be deterred effectively. RiskShield has proven to deliver a highly flexible and adaptive rule modeling and prototyping tool that is user-friendly to operate and does not require the fraud analyst to possess programming skills.
RiskShield is a powerful data-event driven monitoring solution and market leader in fraud prevention technology across multiple regions in Europe, protecting millions of Internet Banking accounts in the financial industry. With RiskShield our customers benefit from:

• Detecting more fraudulent activity by using the most advanced and trusted technologies.
• Quickly adapting to new modus operandi of fraudsters using supervised learning technology and intuitive rule management.
• Delivering extremely high detection performance throughput of more than 5,000 transactions per second. 

WEB ANOMALIES
Spotting fraudulent behavior by using session monitoring to track IP address, Geo-location information and other web traffic data.
MULTI-CHANNEL DETECTION
Monitoring transactions and customer accounts across multiple channels to identify and combat complex fraud schemes.
ACCOUNT MONITORING
Combining web session information with account monitoring capabilities to detect suspicious account activities and account takeover.
ALL PAYMENT TYPES
Supporting any kind of financial transactions such as domestic ACH transfers, Faster Payments, SEPA direct debits and international SWIFT transfers.
NON-FINANCIAL ACTIVITIES
Combining financial transaction data with non-financial activities e.g. address changes, multiple authorization requests, new banking products.
UP TO 450 MILLION EVENTS PER DAY
Real-time and high-performance fraud detection technology with up to 5,200 events per second. 
POWERFUL DATE-EVENT DRIVEN MONITORING
Monitor real-time data or events and be alerted when an anomaly occurs or a trend begins to set. 
FLEXIBLE INTERFACING FOR COMPLEX ENVIRONMENTS
Delivers flexible or industry-standard interfaces for complex and propriety banking infrastructures. 
SUPPORTING NUMEROUS EVENT PROTOCOLS
Faster implementations with standard protocols for industry-based services and message formats e.g. MQ services, ISO 20022 and BASE24.

Sirius Technology is Italian Partner of INFORM Software for: 

Assicurazioni

Claims handling optimization and fraud detection for insurance companies in P&C, Life, Liability and Automotive
RiskShield intelligence claim evaluation software identifies legitimate claims automatically for fast track settlement and flags suspicious claims for further investigations.
RiskShield is a smart claim evaluation solution to optimize your claims handling process. As a supervised self-learning system, our decision engine automatically assesses the fraud risk of a reported insurance claim.
How does it work? An insurance claim automatically classified by RiskShield as inconspicuous can be settled faster and is more cost-effective, thus strengthening customer loyalty. The solution incorporates proven technologies such as fuzzy logic, pattern recognition, dynamic profiles and also supports external lists and databases to score claims quickly and effectively. Business rules can be enhanced and developed in real-time as new fraud patterns emerge, without any IT coding or system downtime.

Medical Billing and Healthcare fraud detection for insurance providers in workers' compensation and private health care
RiskShield automated software solution helps insurance companies to focus on suspicious claims, whereas the claims perceived by the software as unsuspicious can directly be settled without losing further time.
Insurance companies around the world today face the problem of how to deal with insurance fraud appropriately -  in particular medical billing fraud. The aim is to present sophisticated claims investigators with a reduced number of highly suspicious claims for manual review. The incoming medical billing claims are analyzed to automatically extract claims that represent potential fraudulent activity or improper medical coding.
RiskShield assesses any fraud risk of individual incoming medical billing claims in real-time in matter of milliseconds and works transparently in the background. Upon receipt of a medical billing claim, the claims management system forwards it to RiskShield. The system uses rule sets and dynamic intelligent profiling to detect fraud patterns. Furthermore, RiskShield scores the medical providers based on the number of suspicious claims in which they are involved so that special attention can be given depending on their ranking.

Sirius Technology is Italian Partner of INFORM Software for: 

Protezione per Acquirer e Merchant

Card fraud prevention and merchant protection for acquirers, payment processors and merchants
RiskShield is real-time fraud prevention solution that automatically assesses the fraud risk of a payment card transaction in order to protect honest merchants against card fraud and the acquirer against merchant fraud.
Traditional card fraud changes due to the fact that a substantial share of card transactions are no longer related to the physical usage of the card. Security features like Chip/PIN are not applicable in Card-Not-Present transactions. The fastest-growing fraud without the actual card – either online, over the phone or through the mail, needs a different approach to protect an organization against these fraudsters.
RiskShield monitors in real-time all in-coming transactions of the (online) merchants. In addition, the pure payment transaction information, profiles, transaction histories and statistical data are made available inside RiskShield to identify any fraudulent transactions, from friendly fraud to counterfeit cards.
RiskShield helps to keep the chargebacks low and it will safeguard an organization against fraudulent and inexperienced merchants. It will allow for additional revenues to be safely and securely generated even when doing business with risky merchants such as online gambling and travel booking sites.

Sirius Technology is Italian Partner of INFORM Software for: 

Card Issuers e ATM Crime

Real-time card fraud and ATM crime detection for card issuers and payment service providers
Payment card fraud has been around for decades now, but since the introduction of cyber technology and e-commerce, it has increased significantly over the last 10 years. RiskShield offers card issuers and payment service providers a real-time fraud detection solution and protects the cardholders from compromised cards and Card-Not-Present fraud.
Banks and financial institutions have always been a target for criminals. However, in today’s progressive technology age and given the exponentially growing online crime activity, financial institutions are finding it difficult to stay ahead of the curve and mitigate risks from fraud. RiskShield provides card issuers with real-time monitoring technology and high-performance analytics to protect them against losses from fraudulent card usage. RiskShield detects and prevents fraud utilizing credit cards and debit cards at ATMs as well as Card-Not-Present fraud.
RiskShield is an intelligent and fast fraud detection system that can assess these risks and block fraudulent transactions from further processing within just milliseconds.
Today RiskShield protects over 145 million payment cards against fraud in payments and saves banks and card issuers millions every year. Card issuers and payment service providers who have replaced their fraud prevention systems with RiskShield report of a 30% reduction of fraud damage losses.

Sirius Technology is Italian Partner of INFORM Software for: