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Transaction fraud occurs once an account is live. Digital transformation has many benefits to the everyday consumer, but it also gives fraudsters a platform to work from, resulting in fraud taking many forms. These include facility takeover, social engineering, card-not-present and bust out fraud.
A sound organisation with proper controls expects to quickly adapt their defences. That’s already a tall order. Now add to this complexity, the ever-increasing customer channels from merchants, PSPs, issuers, acquirers, processors and switches. If you don’t already have a headache, then factor in the myriad of different transactions you must manage including debt, credit, deposits, ePayments and mobile.
Enter TruNarrative: offering you a platform that never rests. The TruNarrative platform will:
TruNarrative empowers the community of risk professionals. Its cloud-based technology enables insight to be shared securely and in real-time amongst users via the TruNarrative Consortium. This widens your lens of insight to improve behavioural profiling and improve the accuracy of detection.
Thanks to the consortium, your decisions are based not simply on the data you’ve purchased or hold, but also on the wisdom and insight of your peers. This prepares you to detect and combat new fraud trends as soon as they emerge.
Our decision engine is always learning. Machine Learning optimises the rules used across the platform. TruNarrative is continually checking the huge bank of rules to see if there are better ones than those applied in your configuration. We look to see if the implemented rules create too many false positives. Such excellent automated rule optimisation reduces fraud risk by quickly spotting changes to the landscape, whilst continually eliminating inefficient rule sets.
Furthermore, the final decision rests with you. Here, human judgement reigns. Artificial intelligence optimises rule performance faster than any human team could. As TruNarrative monitors constantly, you don’t have to. You receive the system’s findings as suggestions. So, you choose whether to apply, reject or continue testing a suggested rule. Throughout, you retain the final word.
For you, we’ve built a Transaction Fraud Journey that makes the complex manageable. The insight gained when you make a decision at onboarding is invaluable. It can allow you to immediately tailor your strategies for ongoing monitoring. Most companies have to start again and don’t have this insight. The TruNarrative platform cleverly connects the insight you gained from application processing to increase the accuracy of decisions you make Day 1. The result: accuracy of your decisions improves from the get go and you detect more fraud.
Detect more instances of Transaction Fraud by having the perfect balance between analytics, scorecards, data and rules.
Use Machine Learning alongside traditional methods and human intuition improve detection and reduce referrals.
Manage complexity and big data in one place to examine behaviour in real time and drive ‘individual decisions’ about your customers.
Connect seamlessly to your application decision so you gain insight made at on-boarding to segment and make better decisions about your customers.
Let the machine do the heavy lifting by letting our system learn what optimal configuration to suggest for your current and future situation. You stay in control of change.
Our platform operates across all channel and product types, therefore reducing costs and sharing insight to detect more fraud.
Reduce the time you spend managing referrals with an easy-to-use interface and automation built in. See everything in one place.