What is FraudGuardian?

the most complete software platform for fraud mitigation

FraudGuardian is backed by NG|Screener, an innovative enterprise software platform that uses Big Data technology and predictive analytics to combine and standardize data from across the entire banking system. 

FraudGuardian enables financial institutions to address specific fraud challenges (e.g. mobile banking, payment fraud, e-banking, account takeover, identity theft) with bundles containing predefined controls. These controls ensure continuous auditing of human behavior across channels, IT layers and financial transactions.

Predefined controls, called Smart Control Objectives, are simply plugged into NG|Screener. FraudGuardian comes out of the box ready to easily integrate into any core banking platform such as Temenos T24, Oracle Flexcube, Finnova and Avaloq with preset connectors.  Its real-time auditing interface allows you to easily view all detected activities anytime.

Running like a Swiss clockwork, our controls operate continuously without impacting the performance of your applications.

Intelligence updates

Fraud patterns and requirements change rapidly. Through our controls update service, you stay up-to-date and continually guarded by easily adding new controls developed by our dedicated risk experts.

Their vertical-specific content delivered as out of the box controls gives audit and compliance professionals a head start in identifying operational risk and detecting fraud.
— Gartner Cool Vendor 2015

analytics platform

How FraudGuardian catches it

User behavior analytics

What’s behind fraudulent transactions? People and their human behavior. Transaction analytics can’t see the actions that lead up to internal fraud. But FraudGuardian is different. It correlates actions – even the most subtle – from across the systems with smart behavior analytics based on policy rules and predictive analytics. You’re already on the trail before a fraudulent transaction happens.

Multi-layer, multi-channel

FraudGuardian analyzes events and identifies atypical behavior on a large scale using big data technology and predictive analytics to combine and standardize data. This shows the big picture from channels, network, operating system, database and core banking, so you immediately detect any suspicious movements.

Alert & continuous realtime auditing

FraudGuardian tracks and audits all activity continuously, in real time – and alerts you right away when something isn’t right. You gain the potential to stop fraud before it’s too late. 

Benefits

HOLISTIC APPROACH

Data is one place, in the same format and cross-referenced.

TAILORED FOR BANKS

Built to fit the specific parameters of key core banking applications from Temenos T24 to FlexCube.

COST EFFECTIVE

Automated frameworks save 60% of the time you'd spend checking controls.

FAST IMPLEMENTATION

Time to implement a new control standard is reduced by 80%.

PROACTIVE DETECTION

Detect suspicious activity before it becomes an incident and be proactive.

RESPONSIVE SECURITY

Automatically applies new controls to the system.

BEHAVIORAL ANALYTICS

Uses data to continuously track human behavior behind banking transactions.

AUTOMATED COMPLIANCE

Monitors controls continuously to facilitate audit reporting.


 

Tell us your current fraud challenge and our Risk Consultants will get back to you with specific controls objectives.

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Why is fraud so hard to detect?

Smart & Evolving Fraud patterns

Fraudsters can be smart. They can hide in the smallest actions – movements that seem normal at first glance, under-the-radar activities like a briefly changed user access. What’s more, the patterns that can signal fraud evolve so rapidly you can’t simply look for specific actions. You need the right technology to spot any subtle pattern that may signal fraud.

Making sense of big data

Networks, operating systems, databases, banking applications, authentication systems, webservers, physical security systems... Each of these bank systems was designed for a particular task. They are each monitored individually, but fraud activity leverages several systems at once. You need to be able to cross-reference events and handle big data analytics to detect fraud.

Catch fraudsters red-handed

To really fight fraud, you need to catch it as it happens. Unfortunately, with complex bank systems, creative fraudsters who constantly change their game, spotty auditing and other challenges, most fraud is discovered only long after it happens – too late to stop it and act with the evidence in hand.

Banking fraud cost an estimated $67 billion per year.
70% of this is internal. Most remains undetected.
— Association of Certified Fraud Examiners, Report to the Nations 2014

Who is it for

Institution type

FraudGuardian is for any financial institution with a need to detect internal fraud and continuously audit operations.

Risk Managers

Responsible for managing and reporting on operational risk related to business operations and technology.

Security Administrators

Responsible for supervising security benefits of continuous auditing and global correlation to mitigate internal fraud.

Internal or IT Auditor 

Responsible for third-line defense and data integrity.

Leveraging your business

Agile & easy to customize

Adapting to your strategy

We recognize that each institution has different policy standards to support their competitive advantage. FraudGuardian easily plugs into any rules set and adapts to risk policies.

Adapting to your environment

Have a specific GRC tool to integrate into? Using particular incident management software? No problem. We can configure the required plugins or develop the services needed so FraudGuardian works best for you.