Infigos Software Solutions Ltd

Rule Generation Using Fraud Analyser

The machine learning layer connects the rule-detection and relevant modelling functions. It starts by generating the rules-based framework from the initial training dataset by using most relevant machine learning algorithms.

Read More at: https://www.infigos-solutions.com/fraud-analyser/



For more details,
Website: https://www.infigos-solutions.com/
Email: [email protected]
Phone: +353 1254 8232

INFIGOS SOLUTIONS
FRAUD DETECTION & PREVENTION

OUR PRODUCT & OFFERINGS:
Rule Generation using Fraud Analyser & Rule Management using Rule Engine

Know more at: https://www.infigos-solutions.com/



For more details,
Website: https://www.infigos-solutions.com/
Email: [email protected]
Phone: +353 1254 8232

TYPES OF FRAUDS
Fraud in finance is defined as claiming money from banks or insurance company by deceiving them by wrong means. There are predominately following kinds of fraud, which is costing finance industry over 300 Billion Pounds worldwide.

CREDIT CARD FRAUD:
In the case of credit card fraud, money is claimed from acquiring or merchant bank by customers by fraudulent means. In normal process, customer buys a product from merchant.

INSURANCE FRAUD:
In insurance sector, there are predominately two kinds of frauds – application fraud and claim fraud.

Know more at: https://www.infigos-solutions.com/fraud-analyser/



For more details,
Website: https://www.infigos-solutions.com/
Email: [email protected]
Phone: +353 1254 8232

WHY FRAUD ANALYSER?

Fraud Analyser supports remote team coordination with a feature set that is strong on visual characteristics such as,
1) Drop-down functionality to select different modelling techniques
2) Data manipulation functionality to remove or encode specific variables
3) Dashboards to track progress of data scientist activity and model development
4) Model comparator views
5) Periodic customer reports.But that’s not all.
To differentiate the solution from industry standards such as IBM ODM and FICO Blaze Advisor, Fraud Analyser comes with a dedicated data support team, so that product adoption is swift and easy.The platform is not sticky and enables easy exporting of work when done periodically.

Explore Usecases: https://www.infigos-solutions.com/case-studies/



For more details,
Website: https://www.infigos-solutions.com/
Email: [email protected]
Phone: +353 1254 8232

Case Study: Fraud in Auto Finance

This case study is related with auto finance fraud. Here we managed to cut down the losses of due to repossession and fraud by $3mm on 50% test population within 6 months after machine learning model implementation.

Read More at: https://www.infigos-solutions.com/case-studies/



For more details,
Website: https://www.infigos-solutions.com/
Email: [email protected]
Phone: +353 1254 8232

Rule Generation with Fraud Analyser

If we want to make instant decision about a transaction, application or claims, we need to implement a rule engine such as FICO’s blaze advisor, IBM’s ODM, SAS or Redhat’s decision manager. Before we implement the rule engine, we need a mechanism to generate the rules.

Read More at: https://www.infigos-solutions.com/rule-generation-with-fraud-analyser/



For more details,
Website: https://www.infigos-solutions.com/
Email: [email protected]
Phone: +353 1254 8232

Predicting The Fraud - Score Card Development

For fraud management applications, we are looking to predict fraud score (probability of fraud). So that we can process credit card and insurance applications and claims. We define one-year observation window and 6 months to one-year performance window. Fraud are marked as 1, no fraud is marked as 0 based on past investigation of customers.
Read More at: https://www.infigos-solutions.com/score-card-development/



For more details,
Website: https://www.infigos-solutions.com/
Email: [email protected]
Phone: +353 1254 8232

Rule Generation Process Using Fraud Analyser (People and Process Management)

To keep the things simple, it’s good to involve the people to manage the process. Process is managed by team based in Europe and India. There are two kinds of processes
1. Rule generation process managed by data scientist
2. Rule management process managed by rule engine expert
Read More at: https://www.infigos-solutions.com/people-and-process-management/



For more details,
Website: https://www.infigos-solutions.com/
Email: [email protected]
Phone: +353 1254 8232

Fraud Definition: An organization loses typical 5% of revenue due to fraud each year. As per Oxford dictionary, fraud is defined as wrongful or criminal deception intended to result in financial or personal gain. The most common characteristics of frauds are being uncommon, impeccably concealed, time evolving and carefully organized.

Read More at: https://www.infigos-solutions.com/introduction-to-frauds/



For more details,
Website: https://www.infigos-solutions.com/
Email: [email protected]
Phone: +353 1254 8232

Solutions in the market for Fraud Detection and Prevention
1) Based on Rule Engine
2) Based on AI
It’s not possible to support the instant decision making by using the AI engine, since it can’t handle the real time data directly. For instant decision making, rule engines are used universally.
Read More at: https://www.infigos-solutions.com/rule-engine-implementation/



For more details,
Website: https://www.infigos-solutions.com/
Email: [email protected]
Phone: +353 1254 8232