Beating financial crime
Today’s fraudsters have shifted their focus to the new banking channels, pushing the projected level of cyber crime to $6 trillion by 2021.
Modern banking is about convenient banking – anytime, anywhere. This means mobile banking, internet banking fraud and instant transactions. Each channel brings its own risks. Scaling up on staff won’t tackle them – it isn’t failsafe and the cost is prohibitive.
What is needed is a technological model that:
- covers every channel,
- is affordable,
- meets the ever-increasing compliance criteria,
- minimizes risk while giving a good customer experience,
- and protects banks' reputations.
NetGuardians’ enterprise risk platform keeps financial institutions safe from fraud. By using advanced behavioral analytics, our system correlates data from across a bank’s entire IT system to detect atypical actions and raise alerts or block a transaction in real time, stopping the fraud, protecting customers and avoiding hefty fines.