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Upgrading the Fraud Management Solution for New-Gen Digital Banking

Even as the digital banking platform have made entire banking process easier than ever, the reports of digital banking frauds have increased many times in the recent years.

Weak end point security poses a major threat to banks as more data moves to public domain, face to face interactions are limited, transactions become real time and customers share data via APIs.  

In the KPMG Global Banking Fraud Survey 2019, more than 50% respondents reported an increase in volume and value of frauds.

Emerging Challenges in the Digital Landscape

Newer digital technologies are making banks and other financial institutions increasingly vulnerable to numerous risks such as phishing, synthetic identities, stolen data, and social engineering. Legacy approaches to fraud prevention are not keeping pace as perpetrators of fraud are highly adept at exploiting advances in technology, collaboration, and specialization.

While financial organizations move towards delivering products and services digitally, and explore evolving digital channels for better customer engagement, we help them prioritize fraud prevention within their digital strategy.

Digital Fraud Management Services

Hexaware’s competency and experience span reputational, regulatory, and transactional ecosystems of global banking and other financial services institutions.

Leveraging our deep domain expertise and wide spectrum of fintech partnerships, we have adopted a centralized fraud management approach covering Fraud Governance, Assessment, Prevention, Detection and Response.

Service Offerings

  • Consulting Toolkits

    For collaboration early on in customer’s Digital Transformation journey – blueprinting strategy & identifying gaps

  • Predictive Fraud Models and Next Gen Authentication

    To deliver optimal security and increase user convenience

  • Rule Engines and real time Anomaly Detection

    Provides effective threat detection with supervised and unsupervised machine learning models

  • Enterprise Case Management and Alert Management

    For better fraud response, investigation, handling alerts & cases

Fraud Management in Digital Banking

Fraud Management in Digital Banking

View the brochure to leverage Hexaware’s effective fraud management solutions to encounter challenges faced in an evolving digital banking landscape.

Insights & Success Stories

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