Real-time FRM for all your digital channels

Reduce your losses from fraudulent transactions.Get your chargeback ratios back in line and avoid, customer dissatisfaction from declined purchases.

Digital payment transactions are increasing exponentially, especially now that FinTechs have entered the mix providing innovative and alternate payment methods to drive more convenience and inclusion. While traditional card payments still lead the pack, there is a shift in consumer payments patterns towards instant payments through a mobile tap, QR codes, Biometric Payments or ‘Pin on Glass’, etc. Banks still have conventional payments products like Wire transfer, Check payments, Bill payments, and Electronic Toll collection. The transaction risk for all these channels cannot be monitored in silos. False positives and declines are still far too high by industry standards, and as a result, the industry has a credibility gap that is being exploited. But how if fraudsters are still learning how to build synthetic credentials that are being used for criminal intent, over and above friendly fraudsters that are gaming the chargebacks system to their benefit. You need systems to account for all transaction risk types, and with payments methods, there is a greater need than ever before to converge the risk monitoring and fraud management for all digital channels under one holistic and comprehensive platform. When you have access to data to drive cross-channel intelligence and establish the digital persona of your consumer, various rules and models can be applied to drive better business outcomes: more acceptance with less risk.

What RS can do for you

  • Conduct Advisory work on the emerging set of FRM rules, along with global regulatory compliance practices to determine the impact on your current operating model to accept and process payments.  Recommend a technology road map to account for increasing acceptance while reducing risks
  • Build or enhance an enterprise data lake with the required infrastructure to support data localization and compliance with data sovereignty rules
  • Export Transfer and Load (ETL) ecosystem data to train the artificial intelligence (AI) and machine learning (ML) models using features (elements) relevant to you
  • Develop predictive fraud models based on a consortium of client fraud data which provides a shared model for fraud detection and a higher economic value than a singular approach
  • Frame global, categorized and custom rules for detecting fraud, segmenting and actioning alerts and tuning risk profiles rules leveraging 28 years of payments industry experience
  • End-to-end implementation of a comprehensive Fraud And Risk Management solution using RS IntelliEdgeTM and post-implementation,  managing 7/24 operations for high availability
  • Configure and implement the RS enterprise-class fraud and risk management platform leveraging AI and ML which supports multiple payment products (cards, checks, ACH, RTP, etc.) on a single platform

    Click on RS Software Factsheet to know more.

  • Networks/Banks/Processsor
    - Implemented an in-country FRM platform within six months with commodity hardware and open source components for processing 5 billion monthly transactions
    - Implemented payment fraud specific rules across multiple products for monitoring 18+ online and offline channels,  for 1,200+ Bank issuers,  1,200,000 + merchants/acceptance points, processing nearly one billion transactions per month and growing
    - Set up the required Infrastructure at the customer data center designed and built a data lake to store six months of data
    - Benchmarked the system with a response time of less than 200 milliseconds and a sustained load of 2,500 Transactions Per Seconds (TPS)
    - Deployed a single platform for real-time risk scoring and case management of 18+ online and offline channels congruent with national payments regulations and standards for risk guidance
    - Built and operated the FRM platform with 24 X 7 support for a contract period of five years
    - Designing Common Point of Purchase and Anti-Money Laundering modules for monitoring risk at a national scheme level

    To know more about how RS Software was involved, click here for a case study.