Enhanced fraud categorization improves performance of the risk engine as well as expands fraud profiling for the policy manager and case manager
Bedford, MA – August 7, 2023 – Outseer, a leading provider in solutions that defend against fraud, today announced enhancements to data tagging capabilities available through the case manager. These updates are part of continued enhancements and improvements to data from the Outseer Global Data Network that is used by the risk engine for model training. These updates enable increased fraud detection and operational efficiency in investigations.
The Fraud Manager enhancements include both additional predefined tags and custom tags for fraud outcomes, made available through the case manager and policy engine. The predefined fraud tags are aligned with common industry taxonomy to improve consistency in case marking. Custom tags allow each individual financial institution to tag fraud types and emerging threats that may be unique to their organization or operational team.
Tagging leads to more detailed and accurate analysis, enabling FIs (Financial Institutions) to tailor their response strategies effectively. By applying tags to cases, FIs can generate comprehensive reports that highlight trends, risk levels, and fraud types. This facilitates better monitoring and enables more informed decision-making. Additionally, predictive AI is heavily dependent on superior quality data used to train and improve predictive machine learning models. The new capabilities in the case manager facilitate more robust fraud data that improves lift in catching fraud and reducing false positives.
“Outseer data science and predictive AI leverage accurate tagging of fraud data to train predictive models to deliver superior performance with low false positives,” said Colm Coughlan, Director of Data Science at Outseer. “Direct improvements in the quality and granularity of data in the consortium based Global Data Network provide immediate benefits to individual customers but also raise performance metrics for all our customers as they stay ahead of emerging threats.”
To learn more about how Outseer delivers fraud solutions that work for you, visit outseer.com.
About Outseer
Outseer is the global market leader in fraud prevention solutions that enable financial institutions to reduce fraud losses and operational costs while improving customer experience. Leveraging our 20-year history as RSA Fraud & Risk Intelligence, Outseer continues to innovate, protecting digital transactions from ever-evolving fraud threats. Outseer achieves this through our experienced global team, with employees in over 15 countries. Our proven AI-based platform leverages unique data science built on decades of global transaction data, including our proprietary consortium data, and intelligently orchestrates diverse data signals and authentication flows. Trusted by thousands of customers in over 50 countries, including hundreds of the world’s largest financial institutions, our solutions safeguard millions of accounts, billions of transactions, and trillions of dollars annually. Outseer is backed by established private equity investors that share our vision for liberating the world from transaction fraud. To learn more about how Outseer delivers fraud solutions that Stop Fraud Not Customers®, visit outseer.com.