Icelandic Businesses Boost Fraud Detection Efforts with Advanced Technology
Staying Ahead of Emerging Fraud Threats
In an effort to stay ahead of emerging fraud threats, Icelandic companies are turning to advanced technology solutions that enable real-time detection and prevention of fraudulent activities. The latest innovation in fraud management allows businesses to monitor transactions across multiple channels and lines of business from a single platform, providing a comprehensive view of customer behavior.
Advanced Technology for Real-Time Detection
The cutting-edge solution combines machine learning methods with data integration capabilities, enabling organizations to create robust predictive models tailored to their specific needs. This means that Icelandic companies can quickly adapt to new threats as they arise, reducing the risk of revenue loss and improving customer satisfaction.
- Simplifies data integration by combining internal, external, and third-party data
- Enables in-memory processing for high-throughput response times
- Scores 100% of transactions in real-time
Benefits of Advanced Fraud Detection
The benefits of this advanced fraud detection solution are clear. By detecting fraudulent activity faster and reducing false positives, Icelandic companies can:
- Improve the customer experience
- Minimize revenue loss
- Reduce case alert volume by up to 40%
- Improve fraud detection rate by up to 35%
- Reduce false positives by up to 18%
A Better Customer Experience
As Pramote Lalitkitti, Senior Vice President of Fraud Management at Krungsri Consumer, notes, “SAS helped us reduce case alert volume by 40%, improve our fraud detection rate by 35% and reduce false positives by 18%. With fewer false positives and the predictive scoring model of SAS, we can provide a better customer experience while detecting more fraud.”
Meeting the Unique Needs of Icelandic Businesses
In addition to its advanced fraud detection capabilities, the solution is designed to meet the unique needs of Icelandic businesses. It includes features such as:
- Real-time scoring and prioritization
- Immediate customer self-service or fast review and assessment
Staying Ahead of Emerging Threats
As the threat of fraud continues to evolve, Icelandic companies are turning to innovative solutions that can keep pace with emerging threats. With advanced technology like this, they can stay ahead of fraudsters and provide a better experience for their customers.