NetGuardians is a leading Switzerland-based fintech company that offers effective risk assurance and fraud prevention solutions. Their platform utilizes big data to analyze and correlate behaviors across the whole bank system – not merely transactions. Using predefined controls, the software empowers banks to target specific regulatory or anti-fraud requirements. In addition, the control updates feature ensures financial institutions are continuously protected from evolving risks and challenges in today’s border-free business environment.
NetGuardians offers an augmented intelligence platform designed to help banks prevent fraud proactively. The solution delivers contextual information along with machine learning expertise and also provides a great user experience. It has enabled banks to reduce false positives by up to 83%, save 93% of time spent on fraud investigation, and prevent new fraud instances.
This service utilizes surveillance algorithms to continuously analyze your staff members’ daily activities and your customers’ transaction-related behaviors to prevent fraudulent banking transactions.
With FPS:
You are instantly alerted to risks as it blocks suspicious transactions in real time.
You can tackle cyber fraud and human risk.
You can benefit from a vast knowledge network to combat fraud.
You get a flexible tool that can easily adapt to your requirements.
You invest in a turn-key solution provided by Swiss partners.
FPS treats the following at-risk situations:
Behavioral evaluation of each client’s payment traffic (currencies, channels, size of transaction, etc). The risk model evaluates all these variables to help you identify suspicious transfers.
Behavioral evaluation of each client’s online banking actions (currency, beneficiary account, geo-localization, browser language, browser type, etc.). Algorithm evaluation of these variables helps you detect stolen identities and infected customers.
Use of breached user accounts to authenticate transactions (for example, same login used simultaneously on different computers). Employee collusion in giving access permission to a staff member to override the four-eyes guideline (transaction is made and validated on the same workstation).
A bank employee changing sensitive information (phone number, postal/email address, etc.) of at-risk customers (held mail accounts, elderly people, and dormant accounts).
A bank staff member modifying client accounts or validating transactions while being officially on leave as per HR systems, outside of working hours or during the weekend.
NetGuardians offers quote-based pricing for its solutions and services. Contact the company for more details.
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