Overview of SAS Fraud Management
SAS Fraud Management is a comprehensive and integrated solution designed to help financial institutions and other organizations detect, prevent, and manage fraud across various transaction types and business lines. This advanced platform leverages cutting-edge technologies such as artificial intelligence (AI), machine learning, and real-time analytics to provide robust fraud detection and prevention capabilities.
Key Features
Advanced Analytics and Machine Learning
SAS Fraud Management employs advanced analytics and machine learning to generate real-time, risk-based decisions. It includes embedded profiling and machine learning capabilities, patented signature-based analysis technology, and advanced analytic modeling controls. This enables the platform to detect and adapt to changing behavior patterns, ensuring more effective and robust models to combat evolving fraud tactics.
Real-Time Transaction Scoring and Decisioning
The platform scores 100% of all transactions in real-time, utilizing in-memory processing that delivers high throughput (over 10,000 transactions per second) and low latency (less than 50 milliseconds). This capability supports real-time decisioning for transactions, including purchases, payments, and non-monetary events.
Single Integrated Platform
SAS Fraud Management offers a single, multitenant platform that can be shared among independent departments and channels. This multitenancy capability allows for flexible deployment and scaling to support current and future business needs, whether vertically or horizontally.
Simplified Data Management
The platform houses all internal and external data from multiple sources on a single platform, using a flexible enterprise orchestration system. It integrates seamlessly with various data types and sources, providing a single interface for accessing the solution from multiple client source systems or third-party data providers.
Alert Management
The solution includes a comprehensive alert management system that handles alert resolution, manages payment and risk decisions, performs hot listing and blocking, and conducts downstream fulfillment actions from a single interface. It features a rules studio for authoring, estimating, simulating, and managing rules, as well as an alert triage and fulfillment interface to enhance analyst effectiveness and productivity.
Key Functionality
Fraud Detection and Prevention
SAS Fraud Management is designed to detect and prevent various types of fraud, including payment fraud and identity fraud. It uses advanced machine learning models to identify high-priority alerts and critical risks in real-time, reducing the potential negative impacts on customers.
Operational Efficiency
The platform simplifies data integration by combining all internal, external, and third-party data to create better predictive models. This integration enables organizations to respond faster to new threats and scale their operations as needed.
Security and Compliance
SAS Fraud Management includes robust security features such as SSL/TLS support, industry-standard encryption algorithms, role-based access control, and single sign-on (SSO) integration capabilities. It also integrates with tokenization providers to ensure the security of sensitive data.
Customization and Scalability
The solution allows for the deployment of custom machine learning models and supports champion-challenger capability to ease the transition between models. It also provides flexible message layouts and external messaging APIs for easy integration with other systems.
Benefits
- Increase Fraud Detection: Embedded machine learning methods detect and adapt to changing behavior patterns, resulting in more effective fraud detection models.
- Increase Operational Efficiency: Simplified data integration and a single platform enable faster response times and better scalability.
- Reduce Fraud Loss: Early detection of fraud through advanced analytics and machine learning capabilities helps in minimizing financial losses.
- Increase Customer Satisfaction & Retention: Real-time identification of high-priority alerts reduces the negative impacts on customers, enhancing their overall experience.
In summary, SAS Fraud Management is a powerful tool that leverages advanced analytics, AI, and machine learning to provide a comprehensive fraud detection and prevention solution, enhancing operational efficiency, security, and customer satisfaction.