Fighting payments fraud in online, mobile and tablet banking
Intelligent solutions to protect retail banks and their customers from loss caused by man-in-the-middle and man-in-the-browser attacks, mule accounts and account takeover fraud.
Fractals from NCR helps you secure digital banking channels – online, mobile and tablet banking – without sacrificing the convenience that your customers demand. With Fractals you can get the perfect balance between usability and risk, helping you to protect your customers while giving them a great customer experience every time.
With Fractals you can combine the security strengths of an authentication server with the logic and accuracy of a fraud detection system. The flexibility of Fractals’ three engines for rules, machine-learning analytics and advanced profiling enables it to spot unusual behavior patterns on even the smallest data sets. In addition, the Fractals Intelligence Hub (FIH) enhances your profiling capabilities by bringing together contextual information from a wide variety of external sources in areas such as IP intelligence, device reputation, email and phone number intelligence and geo-location data.
With the FIH acting as your central intelligence hub, you benefit from the experience of global networks of intelligence, and gain a much more accurate picture of your customers to help you identify the fraudsters among your genuine consumers.
This is essential in any form of internet banking, where man-in-the-middle, man-in-the-browser and account takeover are the fraudsters’ preferred form of attack. The same profiling techniques can also be used to identify the use of synthetic ID to create mule accounts and collect funds (a method also seen in first-party fraud). By using Fractals to profile and understand the way your customers normally behave, you can immediately highlight and query any unexpected activity caused by malware, phishing, customer duping or other forms of identity theft.
In this way, Fractals gives you an extra layer of sophistication in the fight against fraud. With Fractals in place, you can set the criteria for a customer’s normal profile and decide what activity should trigger increased or decreased authentication. When high-risk authentication is not available, you can decide whether to allow access to an account or to implement restrictions.
In contrast to passwords and authentication devices, which offer consistent levels of security regardless of the underlying risk or customer convenience, Fractals enables intelligent, risk-based assessments of each situation. By differentiating between ordinary and extraordinary customer behavior, Fractals allows you to request a password or other authentication method in the case of unusual activity while giving customers the convenience of carrying out their daily business without interruption.
With Fractals, you can craft, implement and manage your chosen strategies quickly and easily. You can offer your customers a seamless and safe service, however they choose to access their accounts. When it comes to digital banking the goal is greater customer satisfaction without greater risk. Fractals ensures you achieve it.