Fraud & Financial Crimes

Your business has access to huge volumes of sensitive data that is collected from numerous sources and refreshed regularly. While this data can be analyzed for strategic benefits, it can also be used to mitigate fraudulent or criminal activities. As criminals become increasingly savvy and take full advantage of technology for nefarious purposes, your business must proactively incorporate new technologies and strategies to stay one step ahead.

Using Data Management Modernization Strategically

You cannot afford to take chances with the protection of your vital, sensitive data, and data management modernization enables you to strategically and proactively confront the situation. Your BI modernization project may:

Help you to identify signs of criminal activities by establishing limits and rules
Review entire volumes of data rather than conducting intermittent, random testing
Identify new trends or concerning patterns immediately so that corrective steps can be taken
Move toward fraud prevention by analyzing data quickly and more thoroughly to be proactive when possible

Generating Superior Benefits of Data Management Modernization

Even the most skilled and experienced data management professionals may struggle to make sense out of huge volumes of data. However, through the modernization of your data management structure, you may obtain more details and useful insights, and you may deter crime or prevent some criminal activity as a result. This is accomplished by:

Improving data quality
Consolidating data
Building an improved management and accessibility platform
Enabling your team to maximize the use of data effectively

Incorporating Machine Learning into Your System

Analyzing data and building insights are critical steps that can be improved through machine learning. Machine learning enables potentially fraudulent activities to be detected as soon as possible because it can more easily manage huge volumes of details, adapt to the identification of new fraud schemes and maintain strict regulatory compliance. Through the combination of machine learning in your data management and analysis transformation, you can:

Identify potential fraud through the presence of established rule limits that update as needed
Actively monitor data in real-time to identify concerns as soon as possible
Complete a thorough investigation efficiently
Reduce the risk of ongoing criminal activity that could otherwise negatively impact your business and your customers

Improving Fraud Prevention and Detection in Your Business

Even if you believe that your current prevention and detection efforts are sufficient, be aware that this aspect of your business is constantly changing. As criminals consistently refine their efforts, you also must remain a step ahead by continuing to enhance your prevention and detection efforts. USEReady can help you by:

Improving your data analysis infrastructure and processes
Providing more detailed insights in real-time
Delivering a customized solution that is specifically tailored to your company’s operational activities and needs