Fight Unauthorized Activity



Problem 

This Fraud covers 3 main Fraud types :

  1. Transactions not reported (intentional)
  2. Transaction type unauthorized (w/monetary loss)
  3. Mismarking of position (intentional)

Pain points:

  • Unclear grated delegation limits and/or inconsistent systems set up
  • Unreliable transactions reporting and whistleblowing policies, non-effective roll out of related-procedures
  • Missing to identify sensitive parts of the reporting and position evaluation processes

 


Answers

Mitigation internal approach:

  • Risk management by design
  • Machine Learning applied to fraud management
  • Alert / Validation by design

Technologies:

  • Cloud services
  • Big Data
  • Data Management

Solutions

AQMETRICS

AQMETRICS proprietary risk analytics empowers the automation of traditionally resource-intensive and error-prone processes to ensure intuitive, fast, and cost effective electronic compliance risk management, regulatory reporting and document management.

Find more about AQMETRICS here.

CARDABEL

Cardabel provides a new management of risks and frauds in capital markets activities leveraging unsupervised machine learning research.

As rules evolve and regulations change, fraud will evolve with them. Cardabel is unique in that its dynamic pattern recognition ensures that no scheme is hardwired in the fraud detection engine.

Find more about CARDABEL here.


How Aurexia can help?

PRE-PROJECT: préparation of innovative project

  • Conduct RFP process on business topics
  • Validate data to be proceed by the solution (data preparation)
  • Formalize digital ambitions & business needs
  • Detect relevant business use-cases for specific technology (RPA..)
  • Lead ideation workshops to define pain points and needs

DURING PROJECT: End-to-end project delivery

  • Ensure global project management with key stakeholders
  • Design business requirements and adaptive services
  • Review operating model with new solution and business
  • Define IT governance with key stakeholders on new solution deployed
  • Promote solution with an awareness plan and change management strategy

AFTER PROJECT: Monitoring project success

  • Ensure change management plan roll-out with users and management
  • Conduct data visualization project to add reporting capabilities
  • Promote the project through a dedicated communication plan
  • Formalize KPI and build project business case
  • Identify new project opportunities (same client with other departments