The Objective
Multiple commercial banks in India had a common security requirement to deploy an Enterprise Fraud Risk Management Solution (EFRMS) to fight against intimidating frauds, hampering large banking functions.
The Challenge
In a layman’s term, the challenge was to find the bugs and get rid of them. Technically, the client put forth a challenge to identify and prevent frauds/threats in real time through monitoring and proactive prevention capability.
The Inspira Solution
Inspira designed a transparent 24×7 monitoring solution for real time fraud identification and mitigation. The banking systems inclusive of with CBS, Treasury, TMS and UPI were integrated with the EFRMS for identifying fraudulent behaviour.
Key Benefits
Integrating the fraud management system with large banking functions across client’s vast IT environment, led to a series of benefits:
- Abiding by the regulatory compliances
- Proactively migration and mitigating frauds
- Advanced cross channel platform for uncovering hidden patterns, trends and outliers.
- Platform with forensics capabilities
The Result
- Inspira’s victorious deployment of an Enterprise Fraud Risk Management Solution (EFRMS) using analytics and machine learning gave the major banks an assurance of real-time threat detections and prevention.
