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Payment Fraud

Detect and prevent a wide variety of payment fraud schemes (e.g. deposit fraud, on-us check fraud, check kiting) using cross-channel and cross-account analytics, monitoring internal and external users, and evaluating unusual patterns.

Anchor: Overview

The Challenge

Despite the declining check volumes in the banking industry, losses attributed to check fraud are still very significant. Fraudsters are using a variety of methods through multiple channels, using cutting-edge technologies.

Our Solution

Bottomline's payment fraud solution provides cross-channel analytics, which can be utilized for detecting a wide range of check fraud schemes including deposit fraud, on-us check fraud, and check kiting. The system tracks activity across multiple accounts of the same customer, and detects direct and indirect links between accounts and customers.

Anchor: Benefits

Benefits

  • Detect a wide variety of check fraud schemes including deposit fraud, on-us check fraud, and check kiting.
  • Track activity across multiple accounts of the same customer and detect direct and indirect links between accounts and customers.
  • Respond quickly to changing threats and new fraud scenarios.
  • Flag potentially fraudulent behavior with real-time alerts, and use the case management system to track from issue identification to case resolution.
  • Improve investigator productivity and reduce total cost of ownership with a solution built on the Bottomline Cyber Fraud and Risk Management platform, which provides a wide range of anti-fraud and compliance solutions.
50% of web app attacks leverage stolen credentials
Anchor: Functionality
70% of companies suffer from at least one type of fraud

Functionality

  • Profiles the activity of each account and customer and detects deviations and suspicious activity.
  • Tracks activity across multiple accounts of the same customer and detects direct and indirect links between accounts and customers.
  • Uses predictive modeling to reduce false positives.
  • Provides comprehensive data for check fraud investigations. Collects data from various sources to create a single report containing all relevant data for investigations, including front and back check images that are relevant to the incident.
  • Provides flexible, user-friendly rule engine and investigation center. Enables corporate investigators to easily adjust scoring parameters, calculation methods, and thresholds.
  • Fully integrates the Bottomline enterprise case management solution and the payment fraud solution to create an effective, easy-to-use investigative environment.

All Bottomline Cyber Fraud and Risk Management solutions incorporate Intellinx technology and use a common platform to capture, normalize, analyze, and act. With this platform all data is captured, normalized, encrypted, and signed—making it easy to analyze suspicious behavior over time and across applications, analyze and prevent new types of fraud, ensure compliance, and provide legally admissible forensic evidence. A common user interface for all types of fraud and compliance analysis maximizes productivity of network operators and fraud investigators. Learn more about the Bottomline Cyber Fraud and Risk Management platform.

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