Enterprise risk, fraud and compliance solutions
The emergence of a true market leader
This new combined Detica NetReveal® system provides critical capabilities to manage risk, fraud and compliance adherence through the full entity life-cycle in a nimble and flexible manner that can be easily fine-tuned to meet specific client requirements. The system can be used to onboard relationships capturing intended product usage and identifying risk, fraud or compliance issues. Once the entity (customer, employee, device etc.) engages with the institution, we measure and assess actual behaviour versus stated intended product usage, historical usage and expected usage. An extensive range of analytics techniques are available to identify if the entity has “become bad” once on boarded. In addition to this, we also use the explicit and implicit relationships in the data to identify networks or communities of entities, measure the risk of these networks and use this intelligence to improve prevention of risk, detection accuracy and investigation efficiencies.
This enterprise solution can leverage existing capabilities and flexibilty to acquire data in batch or real-time from multiple data sources and at different velocities to:
- Conduct advanced behavioural analysis to indentify unusual or suspicious activities and alert these in real time or batch
- Link and risk score historic data to unearth networks of organised criminality and prevent their propagation
- Support the full end-to-end investigative process, providing the necessary information in one place to allow investigators to make fact-based decisions in an efficient manner
The systems are designed to deal with the drivers of effectively managing fraud and risk losses while, at the same time, providing demonstrable regulatory compliance.
The continued changing nature of fraud and risk creates an environment where new attack vectors change or appear on a regular basis. The most cost effective way to deal with such threats is to have in place a flexible infrastructure that is nimble and can be adapted to meet new emerging threats by leveraging the data, detection, investigative assets and operational knowledge already available within an enterprise solution.
Similarly on the compliance side, organisations need to be able to accommodate new risks introduced through the normal course of business such as new product launches or mergers and acquisitions activity and, at the same time, be able to easily implement recommendations from internal audits or external regulatory bodies without having to go through costly technology refresh processes.
The system has the ability to investigate threats detected by the breadth of the Norkom and Detica NetReveal® engines and also has the ability to ingest and correlate threats from other existing legacy or third party detection engines. This provides a single complete picture of the risk, which investigators use to conduct thorough fact based investigations across multiple channels and products.
This allows organisations to:
- Adopt standardised investigative processes
- Eliminate duplicated effort
- Effectively share information and best practice
- Enjoy greater resource deployment flexibility
- Significantly improve governance and control
- Reduce fraud losses through better prevention and detection of fraud
- Work fewer false positives
- Improve efficiency and investigation throughput
- Clearly demonstrate regulatory compliance
Designed to interoperate
Norkom and Detica NetReveal® are built using the same open architecture and with our complementary technologies, highly experienced staff and deep insight into the industry, we are confident that all of our customers will quickly see benefits from this new combined capability.
To find out more please browse our solutions pages or contact us.