Salviol’s FROPS platform has a unique architecture that has delivered breakthrough results in the prediction, prevention and detection of fraud. It also identifies, in real time, accounts with a high probability of transitioning from a profile that is in line with the banks risk appetite to a high risk loan. The net result is a substantial increase in the profitability of the loans book.Download Brochure
Salviol’s FROPS platform has a unique architecture that has delivered breakthrough results in the prediction, prevention and detection of fraud. It also identifies, in real time, accounts with a high probability of transitioning from a profile that is in line with the banks risk appetite to a high risk loan. The net result is a substantial increase in the profitability of the loans book.
The architecture of FROPS is ideal for identifying, at an early stage, loans that are likely to become troublesome. This can be either because of fraudulent activity or because a customer transitions to a high-risk (or vulnerable) status. The accuracy of this early warning facility in FROPS enables much more effective, proactive, management of such customers/loans so that losses can be avoided or minimized. This also facilitates best-practice in respect of policies relating to vulnerable customers.
The overall impact of FROPS is that there is a major reduction in non-performing loans and a substantial reduction in operating costs. An additional, important, advantage of FROPS is that once it is set up for enhancing the profitability of the Loans Book it can also be used as an exceptionally powerful Fraud Prevention engine 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.
An important feature of FROPS is the highly flexible way in which of risk scores and therefore the Key Fraud Indicators can be managed. This enables FROPS clients to tune the platform with precision to their match their own risk appetite. It also enables them to respond rapidly to changing market conditions and any adjustments in their own business such as the introduction of new products.
By aggregating all the data, internal and external (from both structured and unstructured sources) FROPS creates a single point of access to all the information relevant to fraud prevention and compliance. This information includes all the relevant data within the bank internal systems as well as outside data sources. It optimises data matching and data mining for the detection of suspicious patterns.
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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