With FROPS you can increase additional efficiency. Why? FROPS solution consists of three core innovative modules that create unique and leading functionalities.
FROPS is a highly scalable platform that finds and detects anomalies and exceptions which can be part of a Fraud or Operational Risk scenario across large amounts of data within an organisation and from external sources including social media. Using that knowledge in real-time to feed Investigators, to identify perpetrators and to make processes and transaction systems improve their automated decisions.
FROPS solution is a “data mining” type, and allows company to have a more open approach to non-predetermined fraud detection criteria and the use of business sector rules, based on a cross of specific warning criteria known by the Fraud sector, service provider and insurance company’s specialists. As an artificial intelligent solution FROPS uses a “learning algorithm” and “predictive models” based on reproduction of confirmed fraud cases detected in the past.
With Key Fraud Indicators and Key Risk Indicators set in place, FROPS performs rapid calculation of a risk score for each of the losses and/or networks triggering the warnings to responsible departments and employees. FROPS open architecture and flexibility offers our clients a possibility to evolve over time by adding and creating new perimeters, entity, KFI’ and KRI’s, links independently.
All information is processed in real time. That allows users an action overview with in-depth analysis of structured and unstructured data, such as printed media, social media, web. Furthermore, investigator module technology combines advanced technological building blocks that automatically performs a detailed analysis and is able to identify trends and their implications for businesses and products.
We are different than others in terms of our offering because we are looking for behavioural deviances not only relaying on IT products as such but in finding patterns within huge amounts of data and looking for issues and anomalies based on why and how they occur, not only what and when they occur.
To be able to understand fraudulent activity you must understand the main activities that occur prior to the event.
Automatic update of FROPS Key Fraud Vector Catalogue with philosophy of “Anti-virus” service for Fraud prevention, is our leading advantage on the market.
With FROPS you can increase additional efficiency. Why? FROPS solution consists of three core innovative modules that create unique and leading functionality.
FROPS suites can be purchased separately, but main advantage and best outcome is to purchase the complete FROPS solution.
Investigator Suite enables identify fraudulent patterns and find new forms of fraud.
Real-time Event Suite not only make processes smarter and detect fraud in real-time but also advise how to move on in the process.
Supports and empowers investigators to find and detect fraud based on investigation and visualization of suspect objects and individuals, to include social network data and other internet links or external data sources, and seek out Exceptions and Anomalies which could indicate fraudulent behaviour. Visualization Layer to assist and speed up the investigation process and a rules engine based on known patterns and Key Fraud / Performance Indicators (KFI / KPI). In addition, machine learning analytics allows the identification of new forms of fraud and risk.
Is a High speed smart decision engine that uses the FROPS Rule Engine (KFI/KPI) to detect fraud and other inconsistencies and anomalies in real-time in any operational process. Both the standard KFIs provided by the system and from the investigator or business analyst, are continuously checked in real-time. The decisions from this activity can then be integrated via API’s to provide better information to an automated authorization process (e.g. On-line approval) to MFS or a manual process flow (e.g. Customer Service Agent).
Basic and fundamental component of FROPS, creates a unified and consistent view across all internal and external available data. “Single/Unified View” across multiple, dispersed, disjoint, new and aging data sets, to help study, analyse and predict behaviours and outcomes. Data does not need to be moved there are no additional IT costs to store manage and make it accessible. As the data remains in its original location and access is controlled via a defined mechanism the security classification of the data remains intact.
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