Criminals are constantly developing new methods to exploit weaknesses in an organization’s systems. Business intelligence software and predictive analytical models can be used to identify compromised areas. Fraud deterrence and abuse detection saves organizations millions of dollars every year.
Angoss predictive analytics software and solutions allow organizations to:
- Profile known fraud cases vs. other accounts or transactions
- Segment fraud according to case patterns
- Create models based on probability of fraud
- Build strategies to balance negative action and false-positives
Angoss software and solutions capabilities for fraud deterrence and abuse detection include, among others:
- Data visualization makes it easy to determine which factors differentiate frauds from non-frauds by addressing questions such as:
- How do transaction types, account types and related details differ among fraud cases and others?
- What fraud types cost the business the most and how are they trending?
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Predictive decision tree algorithms are used to segment fraud cases by account or transaction profile. Flexible decision trees allow you to incorporate your policies and best practices into the generated decision trees for optimal segmentation.
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Neural network models score the portfolio, analyze the effectiveness of models and quickly predict fraud. New models can be easily compared and validated against existing models to help ensure that more fraud is mitigated.
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Strategy Trees allow all of your fraud analytics to be stored in a complete suite of predictive analytics software . Include Key Performance Indicators (KPIs) such as fraud amount, fraud rate and false-positive rate directly within each branch of the strategy tree to balance “what-if” scenarios. Strategy Trees allow users to assign, monitor, block and cancel treatments to optimize payments and operational efficiency.