Online fraud

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The online channel is increasingly seen as a source of risk for financial institutions. Fraud typologies have evolved from information theft through phishing, to sophisticated trojans, man-in-the-middle and man-in-the-browser attacks, which have defeated two-factor authentication.

The Detica NetReveal^® (formerly Norkom) online fraud solution enables financial institutions to preserve their customers’ trust in the online banking channel through quick, real-time detection of unusual online behaviour. The solution combines information about both the customers’ financial transactions and their web behaviour, delivering a well-rounded view of the fraud risk associated with online business. Our detection methodology provides the basis for a robust online fraud monitoring programme.

The Detica NetReveal^® approach takes a customer-centric view of fraud rather than a transaction- or channel-specific view of attempts at fraud. This increases your accuracy while reducing the number of false positives your investigators have to deal with, saving your organisation time and money. As with all Detica NetReveal^® solutions, sophisticated fraud investigation capabilities come built-in. Your investigators can take advantage of a streamlined alert and case management process and concentrate on the more high-risk incidences of fraud rather than spending time chasing false positives.

Key benefits of the Detica NetReveal^®online fraud solution:

• Secures the online channel, protects reputation and prevents customers from experiencing fraud losses.
• Accelerates time-to-value with the inclusion of a cross-channel detection scenario library for a wide variety of fraud typologies including man-in-the-middle, man-in-the-browser, phishing, mule accounts and others.
• Enhances fraud operational efficiencies with market-leading enterprise alert and case management capabilities, which includes a financials and recovery module to track and analyse losses.
• Leverages existing authentication solutions using the results of authentication to enrich the fraud detection process and a fraud risk score to trigger enhanced authentication steps.
• Reacts to fraud or attempted fraud by automatically blocking access to online banking capabilities.
• Integrated command and control reporting module provides accurate, relevant fraud metrics and activity dashboards to all levels of management.
• High degree of configurability in detection and investigation components empowers clients to modify the solution with minimal reliance on Detica NetReveal^®.

Protecting brand reputation and developing trust in your online channel

The Detica NetReveal^® online fraud solution combines best-of-breed web behavior monitoring tools with a range of detection scenarios. The Detica NetReveal^® gives you a defence-in-depth that minimises your financial losses, while building your customers’ confidence in your online channel. The solution can be easily adapted to your specific needs and extended to deal with fraud challenges that may arise in other channels. This flexibility helps to future-proof your organisation against constantly evolving fraud patterns such as phishing emails, man-in-the middle/browser trojans, account take-over fraud, account abuse, elder abuse, dormant accounts and mule accounts.

The extendable fraud solution

The Detica NetReveal^® online fraud solution can be deployed standalone or as part of an overall Detica NetReveal^® multi-channel fraud solution. Because all Detica NetReveal^® financial crime and compliance solutions are built on single, underlying enterprise architecture, you can extend the online solution at any point in the future with minimal effort. Extending the Detica NetReveal^® online fraud solution across other types of fraud also means that you can begin to link online fraudulent activity with suspicious activity in other products or channels.