Consumer transaction giant NCR Corp. has announced the latest iteration of its fraud detection technology known as Fractals, which is geared toward the eBanking industry and has several new features.
The company said in a release on Tuesday (Nov. 3) that Fractals has among its most immediately noticeable enhancements a user interface that has been redesigned with input from the existing customer base. Fractals monitors a range of activity, covering ground as diverse as payments and transfers and also non-banking activity, such as login attempts and new recipients who may give hints of fraudulent attempts.
The newest Fractals update helps with “new ways of getting data into and out of the system, with flexible transaction and event mapping.” As pertains to use by fraud teams, NCR has promoted flexible batch fraud tagging and faster data access. The granular management of technology rules also means that the customer relationship remains undamaged while cyberthieves are thwarted.
[bctt tweet=”The newest Fractals update helps with “new ways of getting data into and out of the system.””]
The Fractals offering also has two new external providers for IP intelligence, NCR said, though as per standard company practice, customers are not locked into specific vendor relationships.
In a statement that accompanied the announcement, Steve Nogalo, vice president of payments at NCR Financial Services, said, “Fraud teams are under constant pressure to react to changing fraud trends as they happen while minimizing customer impact. All too often, fraud tools are cumbersome and unwieldy, but we are determined instead to deliver the greatest possible flexibility and ease of use with Fractals.”
The company cited robust analytics ability, such as the inclusion of Bayesian modeling, which can help pinpoint fraud across any sized data set, a function that can help find fraud even as patterns change. That leads to low “false positives,” which also means that the customer experience can continue without interruption or lost transactions.
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