Digital Banking Fraud prevention

Author: NetGuardians

Retail Payments Payments
Development

Leveraging on smarter AI, NetGuardians’ platform detects fraud and identifies emerging digital banking fraud cases with fewer false positives.

Using pre-defined AI risk models, banks can tackle digital banking fraud challenges related to eBanking/mBanking sessions redirected by malware, hijacked by hackers, taken over by identity theft and others.

NetGuardians transaction scoring module enables transaction blocking on Fusion Essence and Fusion Equation. When a fraudulent transaction is detected, the transaction is blocked and an alert is generated in real-time and routed to the relevant stakeholders through risk dashboard and forensics tools to determine the reason of the transaction being blocked.

Benefits
- Lower false positives
- Improved fraud detection rate
- Prevention of emerging fraud types
- Rapid activation through FusionFabric.cloud