Feat Systems’ Post

Cyber attacks on Indian banks and financial institutions have surged at an unprecedented rate. Recent reports indicate that 1.3 million attacks occurred in just 10 months until October 2023, averaging around 4,400 attacks every day. To combat this growing threat, it's crucial to deploy modern intelligent automation technologies on a large scale. These technologies are essential not only for preventing attacks but also for supporting customers affected by them. Discover how UiPath in partnership with Feat Systems enabled one of the leading private bank to automate and streamline their cybercrime portal processes. This enhancement has significantly improved their ability to support customers in critical moments, thereby elevating the overall customer experience while significantly improving their operational efficiency. #bfsi #intelligentautomation #cyberattacks #Customerexperience #uipath

"Introducing Bharat Informatics’ cutting-edge Mule Score Detector, empowering businesses to stay ahead of money mule fraud with advanced AI-driven tools. Stay secure, stay protected." #BharatInformatics #FraudDetection #MoneyMulePrevention #AIforSecurity #RiskMitigation #SecureBusiness #KYC #KYB #Banking # RBI #SEBI #Identity #fraud detection

🔐 Improved Compliance – Staying Ahead of Regulations 🔐 Compliance with financial regulations is not optional, and failing to meet standards like AML (Anti-Money Laundering) or PCI DSS (Payment Card Industry Data Security Standard) can result in heavy fines and reputational damage. As payment fraud evolves, so do the regulations governing how businesses must protect transactions. Transaction monitoring ensures your business stays compliant by automatically identifying suspicious activity and flagging it for review. With real-time tracking and automated reports, you can confidently navigate complex regulatory landscapes while reducing the risk of penalties. Don’t leave compliance to chance — stay protected with transaction monitoring. How does YOUR payment provider stack up? #Compliance #TransactionMonitoring #AML #FraudPrevention #BusinessSecurity

🌐 Top 10 AML Software Solutions for Banks 🏦💻 In the fast-evolving landscape of financial security, Anti-Money Laundering (AML) software plays a crucial role. Here are some notable solutions that have made an impact: Stay informed and vigilant in the fight against financial crime! 💼💡 #AML #BankingTechnology #FinanceSecurity #realtimemonitoring #fintech #actimize #lexisnexis #RegulatoryCompliance #FraudPrevention #DataProtection #KYC #FinServ #TechInFinance #AMLSoftware #BankingInnovation

Do you know that: The Treasury department is often the first to detect payments fraud? US companies are prepared to cut ties with organizations impacted by payment fraud? There is a paradox of AI in payments fraud prevention? Employees can either be your best defense against payments fraud or the weakest link (securetreasury.com)? Banks view payments fraud risk as the leading operational challenge for their corporate clients. To learn more, please watch this video. Thank you. #paymentsfraud #paymentfraud #artificialintelligence #ai #fraud #cybercrime #cyberfraud #cybercriminal #finance #CFO #treasurer #CEO CTMfile Trustpair PYMNTS Association for Financial Professionals TD Strategic Treasurer LLC https://lnkd.in/erQtykmw

Why manage fraud and AML separately when you can have both in one platform? Xceed FRAML provides fraud detection and AML compliance, powered by AI in a singular unified case manager. Experience streamlined operations and faster, more accurate protection, all in one powerful platform. https://bit.ly/3Y7WAj0 #XceedFRAML #fraudprevention #fincrimeefficiency

Mule accounts are often used by criminals to launder money or facilitate fraudulent activities, posing significant risks to the integrity of the financial system.   A recent collaborative study with 10 banks highlighted the prevalent use of rule-based systems for fraud detection, which have proven ineffective in flagging suspicious transactions linked to mule accounts.   As per the report from RBI Innovation Hub, the alarming disparity between declared income and transaction volumes in mule accounts, emphasising the inefficiency of current fraud detection methods. To combat this issue, the developed AI model is capable of real-time detection, aiming to enhance fraud prevention measures within the banking sector.

Real-time fraud detection is a critical challenge, and recent pilots by RBIH and NPCI highlighted the urgent need for innovation in the field. At Bureau, we have developed a solution that not only meets regulatory standards but also empowers banks with full control over their fraud prevention strategies. Our models are transparent, explainable, and customizable, setting us apart from black-box algorithms. The strong interest from key industry leaders at GFF reinforces the value our solution brings to the banking sector in India. Read about it more at https://lnkd.in/gVDDjzkY.

Why manage fraud and AML separately when you can have both in one platform? With NICE Actimize you get the experience and expertise of the industry’s leading Anti-Fraud and Financial Crime technology provider, in a purpose built FRAML solution for small to mid-size financial banks. Xceed FRAML provides fraud detection and AML compliance, powered by AI in a singular unified case manager. Experience streamlined operations and faster, more accurate protection, all in one powerful platform. https://bit.ly/3Y7WAj0 #XceedFRAML #fraudprevention #fincrimeefficiency

In this ever changing pattern of emerging digital frauds it’s critical that the organisations always stay a step ahead. We have,in recent years, also seen a huge jump in the employee churn percentages in the bigger banks. With the availability of these latest solutions which use data from multiple sources and artificial intelligence based rules, the organisations are now in a position to curb these incidents in a very cost effective manner. If we truly profess to be customer centric we need to protect them from such cyber frauds.