The banking industry has traditionally been a hot target for fraudsters, with access to sensitive customer information. The fraud landscape has been evolving with fraudsters using sophisticated techniques to surpass enterprise security measures, which eventually poses massive threat for banks. To meet these towering challenges, banks need to have strong defense mechanisms in place that are capable of not only automatically detecting frauds but also preventing them from taking place.

1. © 2014 CustomerXPs Software Pvt Ltd | www.customerxps.com | Confidential1
Redefining Starfish Banks
With Use Cases

2. © 2014 CustomerXPs Software Pvt Ltd | www.customerxps.com | Confidential2
Executive Summary
 The banking industry has traditionally been a hot target for fraudsters, with
access to sensitive customer information.
 The fraud landscape has been evolving with fraudsters using sophisticated
techniques to surpass enterprise security measures, which eventually poses
massive threat for banks.
 To meet these towering challenges, banks need to have strong defense
mechanisms in place that are capable of not only automatically detecting
frauds but also preventing them from taking place.

3. © 2014 CustomerXPs Software Pvt Ltd | www.customerxps.com | Confidential3
Use Cases
 Case 1: ATM transaction from one country followed by a debit card
transaction/Mobile Banking login/Credit Card Transaction for the same
CUSTOMER ID from another country within a defined time duration .
 Case 2: Salary Debit within first two days of salary credit, as against the usual
norm.
 Case 3: Address change followed by inventory issuance like Cheque Book
issuance or Debit Card issuance or Debit Card PIN Issuance or IB Password
Issuance within X time duration .
To know more please click here.

4. © 2014 CustomerXPs Software Pvt Ltd | www.customerxps.com | Confidential4
Cross-channel Fraud Management (Solution)
 An ideal cross-channel fraud management solution not just monitors and
prevents fraud on multiple channels but also has the ability to correlate the
intelligence gathered from one source system to the events happening on
other channel to detect and prevent fraud.
 For instance, all the scenarios discussed above could have easily been
averted had the bank implemented a unified cross-channel fraud
management system.

5. © 2014 CustomerXPs Software Pvt Ltd | www.customerxps.com | Confidential5
An Ideal Fraud Management System
So, what should be the characteristics of an ideal fraud
management system?
 Ability to track patterns : An ideal cross-channel fraud management system
should be adept in tracking Cross Channel and Cross Product patterns in
real time and cross pollinate the information for better decision making.
 Built-in Scenarios : Comprehensive functionality with pre-packaged
channel, products and geography specific scenarios.

6. © 2014 CustomerXPs Software Pvt Ltd | www.customerxps.com | Confidential6
 Highly intuitive Framework : The system should have in place a
framework that is highly intuitive, easily configurable and can engage
complex-event-processing functions to handle events.
 Real-time : The monitoring engine should be powerful & capable of
functioning in absolute real-time.
An Ideal Fraud Management System

7. © 2014 CustomerXPs Software Pvt Ltd | www.customerxps.com | Confidential7
Thank You