Smart, real-time fraud protection for private banks and wealth managers
Customers of private banks and wealth managers typically make fewer transactions but at a higher average value than those of retail banks, making them attractive targets for fraudsters. There is no room for error, as these same customers demand impeccable personal service.
NetGuardians packaged fraud prevention for private banks and wealth managers is specifically tailored to overcome these unique challenges and is used by 3 out of the 10 largest institutions in the sector to stop more fraud with fewer false alerts.
Impeccable service
When a transaction is stopped it is highly likely to be fraudulent. Explainable AI ensures relationship managers (RMs) can explain to the customer exactly what is suspicious. Fraud is prevented while security and trust are enhanced, helping to forge a deeper relationship between the bank and its customers.
Safeguard your reputation
The world is a small place, where bad news travels fast. While fraud at a private bank is infrequent, when it occurs it can be catastrophic, destroying a reputation built up over decades. The best protection is prevention – from internal and external fraud. Reduce human errors, stop more fraud – including new types – to protect your customers and your organization.
Secured digital journeys
Digital banking is ever more popular, particularly for the younger generation of customers, but it significantly extends the cyber-attack surface for fraudsters. Transaction volumes and speed can also cause problems. Effective protection from standard and high-tech attacks such as deep fake voice calls reassures existing and new customers, helping to grow assets under management.
Control your costs
Volatile markets, changing customer preferences and increasing regulatory obligations are pushing up banks’ costs. Reduce the number of false alerts and unnecessary client call backs, cut down investigation time and transfer those resources to value-add tasks.
