Fraud Prevention and Detection for Credit and Debit Card Transactions
The key value of adopting BRMS to provide fraud detection capabilities lies in the flexibility that this methodology offers from an installation and a business-use perspective. BRMS offers the ability to use a common platform to address fraud issues throughout an organization, removing the need to identify different solutions and platforms to tackle credit card, debit card, check and money-laundering fraud. BRMS provides a user-friendly point and click environment that helps business users to create and modify fraud detection rules "offline." Rules can be created, modified and tested quickly and then deployed to a production system when ready. This enables institutions to react quickly in their effort to keep pace with fraudsters. New detection policies can be activated in hours, instead of months, helping to reduce lost revenue and increase customer satisfaction.