Automation of Wire Fraud Detection for a Banking Leader - Futran Solutions

Global Banking Leader

Wire Fraud Detection Automation

Business Requirements:

Fraud Team Must have dedicated analysis to monitor their wires through the day and follow the same repetitive steps of performing checks, validating threat score, and checking alerts of each wire manually across multiple platforms.

Perform checks on clients and beneficiary account for previous transactions.

Futran Solutions

Wire Identification

Analysis of all the wires
in the queue for potential
fraud investigation from GFX.

Wire Investigation

Validation of historical and current data anomalies to identify fraud using systems like GFT wire inquiry, eConnect, and Threat Metrix.

Decision Making

Fraud Analyst decision making
made faster by checking
investigation notes populated
by Bots.

Outcomes

Faster Wire processing time from 20 min to 2 mins

Automated Fraud Detection with yearly savings of 900 Hours

Simplified Process of investigation commentary

Technologies

GFX System

GFT Wire Inquiry System