Fraud and Financial Crime Management
Detect, Investigate, and Protect Against Internal and External Threats. Take a proactive approach to risk management while removing complexity and enabling compliance.
Bottomline's Fraud and Financial Crime Management enables corporations and financial institutions to reduce risk, prevent fraud, and meet regulatory compliance requirements through a highly extensible and flexible platform that delivers unparalleled fraud protection.
Fraud and Financial Crime Management is an innovative end-to-end enterprise fraud management solution suite that includes a unique combination of comprehensive data capture methods combined with cross-channel analytics and real-time alerting. This allows organizations to detect and prevent internal and external fraud in real-time and to better manage compliance requirements related to fraud incidents
Bottomline’s platform is highly extensible and flexible with a rapid activation model so organizations can quickly achieve:
Better visibility and control
Quicker decision making
The platform layers intelligent machine learning, rules-based detection, and behavioral profiling for anomaly detection and monitoring of end-user activity and transactions across applications and channels throughout the entire enterprise.
Key Fraud and Financial Crime Management platform features
Real-time suspicious transaction interdiction
When suspicious transactions or conditions are detected, transactions can be automatically quarantined until explicitly released by an authorized investigator or payments specialist. In addition, if the suspicious activity is not related to a specific transaction but occurs during an online or mobile session, then step-up authentication can be triggered prompting the user to respond before proceeding with risky activity. It can also send notifications to other authentication systems to trigger out-of-band authentication or one-time passwords.
Cross-channel behavior tracking
The behavior of customers, accounts, employees and other entities is tracked and profiled by the analytics engine which correlates activities between various channels such as e-Banking, mobile, ACH, wires, checks, call center and others and generates real-time alerts on suspicious or anomalous events.
Fraud analytics with intelligent machine learning
By layering supervised and unsupervised machine learning with rules-based detection and behavioral profiling, it constantly enhances its analytics engine and incorporates real-time adaptive intelligence into fraud detection. Leveraging Bottomline’s deep expertise in payments and fraud, the platform's analytics engine uses intelligent machine learning to enable organizations to stay ahead of evolving and complex fraud schemes, reduce false positives, and protect their payments. This is combined with rules-based detection and behavioral profiling in order to quickly protect against known fraudulent behaviors and attacks on low volume transaction types.
Investigations and case management
Suspicious events can be investigated in the Investigation Center, a powerful forensics web-based user-interface, allowing investigators to manage and document the investigation process, view all information relevant to alerts, cases or profiles, in one consolidated view with flexible drill-down options on each related entity.
The system non-invasively, and without an agent, captures a detailed audit trail allowing complete visibility into end-user activity with visual replay of every screen, user modifications, and flow of screens in core business applications.
The system also provides Google-like search capability on the content of every user screen and session, enabling investigators to immediately get answers to questions such as: which user accessed a specific account number in a given timeframe, and then replay the exact activities of the user screen-by-screen. This functionality enables compliance with GLBA, SOX, PCI and other regulations that require a detailed audit trail of access to sensitive customer data.
Bottomline’s Secure Payments solution protects payments across a variety of applications, channels and payment types.
Through an out-of-the-box library of pre-built integrations and support for diverse payment formats, Secure Payments provides on-going flexibility for comprehensive behavioral analytics, real-time alerting, and transaction blocking, allowing your organization to reduce risk, prevent fraud and meet regulatory compliance needs.
Bottomline’s Secure Payments solution effectively identifies and mitigates some of today’s most sophisticated fraud schemes, such as Business Email Compromise (BEC) and cross-channel attacks
Increasing threats of payment fraud have resulted in a new set of SWIFT security controls, known as the SWIFT Customer Security Programme or CSP. The SWIFT CSP establishes a set of mandatory and advisory controls to act as a security foundation for the SWIFT community.
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