Salviol’s FROPS platform has a unique architecture that has delivered breakthrough results in the prevention and detection of fraud as well as Money-Laundering in real-time. In addition to blocking fraudsters at the account / loans originations stage FROPS identifies the transition of accounts from normal operation to suspicious behaviour with unprecedented accuracy.Download Brochure
Salviol’s FROPS platform has a unique architecture that has delivered breakthrough results in the prevention and detection of fraud as well as Money-Laundering in real-time. In addition to blocking fraudsters at the account / loans originations stage FROPS identifies the transition of accounts from normal operation to suspicious behaviour with unprecedented accuracy.
The most important aspect of FROPS is the exceptionally high accuracy rate (up to 4 time better than other methods) with which it identifies applications, accounts and transactions with a high likelihood of being associated with financial crime. The false positive rates are exceptionally low. Once it is set up for Fraud Management FROPS can also be used for Loans Book Profitability-Enhancement and to reduce the cost of compliance substantially.
In addition to using internal information to best effect FROPS’ exploits predictive analytics and behavioural information from sources such as the integrated FROPS-OSINT (Open Source Intelligence) which incorporates data from social networking sites (e.g. Twitter, Facebook, etc., blogs, Web, forums) industry and government data bases.
EWS allows banks to detect any developments indicating financial weaknesses and/or vulnerabilities in its client base. It automatically generates alerts of adverse events at an early stage and contributes significantly to the process of managing the relationship with such customers well.
A unique capability of FROPS is the ease with which Key Fraud Indicators (KFI’s) and Key Performance Indicators (KPI’s) can be combined into Key Fraud Vectors tuned to a bank’s specific business profile and risk appetite. This enables banks to perform checks on potential fraudulent behaviour as well as other suspicious behaviours with precision. It is very effective in both ensuring that account origination is well aligned with the bank’s strategy and isolating fraud that is only manifested at a later stage.
FROPS has strong investigation capabilities and a dynamic, global, key fraud indicators library. The Fraud department’s effectiveness is also enhanced by utilizing the industry’s leading behavioural analytics and machine learning technology.
Along with the technologies outlined above FROPS automatically generates Key Fraud Vectors after the detection of new fraud patterns. Hence, emerging fraud patterns are detected and blocked by FROPS’ machine learning capabilities rapidly.
FROPS has been designed for ease-of-use and incorporates guides on all aspects of how to use it well. This includes a facility for authorised business users to generate new KFIs without specialist IT knowledge. The effectiveness of fraud prevention is maximised by utilizing the industry’s leading behavioural analytics and machine learning technology. FROPS recognizes recurrence and statistically unusual behaviour and optimises the scheduling of investigations.
A market-leading aspect of FROPS is that regular updates of Key Fraud vectors are provided by Salviol. These updates include key indicators related to new types of fraud schemes from across the globe.
New types fraud schemes initially seen in one geographical location often travel to other regions rapidly. The Key Fraud Indicators that prevent frauds from a new scheme in one region are made available through the regular updates to Salviol’s Fraud catalogue to all its customers. As a result, protection against new types of fraud schemes can be often be implemented before the scheme begins to take hold in the markets in which the Bank operates.
With Continuous Control Monitoring (CCM) the Bank actively monitor that al the processes relating to consolidating data from internal databases, publicly accessible databases and black lists, are operating
FROPS uses statistical processing, predictive analytics and machine learning on an ongoing basis to identify and block new types of fraud schemes.
The FROPS platform incorporates powerful facilities for the visualization and interpretation of anomalies activities uncovered either automatically by the platform or manually by an investigator.
With its architecture, the FROPS system can be integrated rapidly into diverse environments. Given its accuracy, and the precision with which it can be tuned to each bank’s specific business model, FROPS has consistently delivered a Return on Investment (ROI) within 6-12 months of the date of implementation. Given this track record Salviol provides a guarantee that the investment in FROPS will be returned to the customer if the platform does not deliver a Return on Investment within 12 months.
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