Today, relying on a single fraud detection solution leaves organizations vulnerable. It is no longer sufficient as fraudsters continue to become more sophisticated. They are increasingly going after the weak links in different channels and finding new ways of compromising customer accounts and manipulating transactions.Adding more fraud detection tools and feeds introduces a set of challenges such as keeping a positive customer experience, keeping operational costs under control, and keeping a constant detection rate.
Since these tools and feeds come from different sources and vendors an orchestration layer that takes them all together and produces a single fraud decision is required. Some of the capabilities needed in this layer are:
- An open approach to plug-in and plug-out detection capabilities
- Real time correlation of events from different data sources
- Understand behavior and risk across channels
- Take immediate action like secondary authentication to prevent fraud
this white paper to learn more about how you can orchestrate fraud data and come to a single decision.