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Payment Fraud Prevention

NetGuardians

Cash Management
Retail Payments
Analytics
Fraud Solution
Ready-to-go solution for real-time fraud prevention
Cash Management
Retail Payments
Analytics
Fraud Solution
Ready-to-go solution for real-time fraud prevention

NetGuardians’ AI-powered fraud solution more accurately detects and blocks fraudulent transactions. It learns each customers behavior and flags anomalous transactions for further validation. System reduces false positives by 85% - this results in +75% operational cost savings as fewer staff are needed to validate suspicious payments - direct savings for a Bank and reduced reputational risk.

Fraudsters are increasingly using social engineering techniques to perform scams such as fake invoice, CEO fraud, and business email compromise (BEC), among others. The fraud losses are forecast to net $10.5 trillion a year by 2025.

NetGuardians’ solution helps Finastra banks to tackle these challenging scams by understanding the normal payment behavior of each customer and using behavioral AI risk models to detect anomalous payment transactions that are outside the norm. It spots and stops fraudulent payments resulting from both internal fraud and external fraud.

Pre-integrated with Finastra core banking, payments, and cash management systems, the solution can be live in weeks by simply activating it on FusionFabric.cloud so banks can quickly reduce their project management costs, decrease fraud losses, and protect their customers.

Regain customer trust ​

High misdetection & false positives cause bank/ customer losses, and customer loss of trust.​Use behavioral risk models to gain their trust back.

Reduce operational costs ​

The platform is preintegrated, does not require any rules for maintenance and adapts to diverse customer behaviors, reduced false positives, intuitive operator UX.

Future-fraud proof

Current rules are programmed to detect known fraud scenarios but miss the new ones. ​The Payment Fraud Prevention app uses behavioral models that self-learn and are able to detect new fraud types.

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General information

Commercial model
Resell
Integration
Pre-integrated products
Fusion Cash Management
Fusion Essence
Fusion Global Pay Plus
Integration coming soon
Fusion Equation
doneAvailable for all 3rd party systems
Implementation
Cloud Hosted | On Premise
Website
Support
Privacy policy
Data processing countries
United States of America

How it works

NetGuardians offers industry leading fraud analytics relying on AI, removing all configuration work usually needed with other systems (rule based). The system learns by itself, so you don’t need to employ data scientists in fraud team. As the solution is pre-integrated with Finastra systems including Essence, Equation, Fusion Global Payplus, Fusion Payments to Go, Total Messaging, and Fusion Cash Management via FusionFabric.Cloud, you can go live with an industry leading product in a few weeks. When you upgrade Finastra systems NetGuardians solution is seamlessly upgraded in the backend, this avoids having to migrate its solution in future.

The fraud happens

The bank client clicks on a phishing mail, leading to stolen credentials that are used by the fraudster to send a significant amount of money to an unknown account.

Using the client profile

NetGuardians has built of a profile of the client based on its transactional behavior and realize that this action doesn’t match its habits.

The fraud is stopped

The transaction is put on hold in real-time before the money leaves the bank. An alert is sent to the bank staff and the transaction is put on hold before the money leaves the bank.

Building the client profile

Each client transaction is analyzed and scored for risk by the system.
How it works

How it looks

Overview screen

Allows the investigator to drill down all the fraud analysis results - prevented and missed frauds and total value at risk, the hit overview and the impacted customers.

Details dashboard

Analyze and compare the suspicious transactions with the usual customer profile.
screenshot container
Overview screenDetails dashboard

Overview screen

Allows the investigator to drill down all the fraud analysis results - prevented and missed frauds and total value at risk, the hit overview and the impacted customers.

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