Detect potential losses before they occur.
With the high costs and the constant evolution of fraud schemes, institutions need technology solutions that monitor, detect, and analyze suspicious activities across multiple channels with customers, employees, and third-party affiliates.
To meet the need for an automated solution that proactively identifies potential fraud, ARGO developed a Fraud Management solution. The application uncovers employee, identity, transaction, and loan fraud. It provides alerts for items such as duplicate applications, false identification items, collateral for multiple loans, OFAC checklists, suspicious employee browsing, trial balancing, or excessive account or ID inquiries.
Integrated within ARGO solutions, Fraud Management offers warnings and response mechanisms to stop a transaction prior to an exchange of value, preventing a loss. The system triggers alerts, interrupts transactions, requests supervisor overrides, or displays warnings notifying employees that they should exercise increased vigilance.
Customize to Meet Your Needs
Your institution can maximize its effectiveness using Fraud Management to help prevent fraud before it happens. The solution allows custom configurations by turning certain watch items on and off to increase or reduce the number of hits. Prior to execution, ARGO supports significant testing to measure the feasibility of employee investment against the number of alerts and investigation requirements. Because not all fraud items have the same potential for loss, our solution helps you prioritize items based on proposed impact, with tools to support investigation and proof of process.
Increase Fraud Detection Capabilities
Using our fraud console, your institution can pinpoint possible fraud and reduce risk with a bird’s-eye view of all suspicious activities, including general ledger (GL) monitoring and suspect browsing. With real-time monitoring from a single access point, the fraud console tracks transactions and compares them against watch lists, as well as interaction pattern analysis. The solution also allows for close examination of new accounts based upon dollar amounts and the number of transactions.
Minimize Identity Fraud
With our solution, you can minimize identity fraud by building and maintaining comprehensive watch lists. You can also analyze and detect previous loss payments or known fraudulent items at the point of first contact using our fraud management tools. Your result: prevention of losses through stopped transactions and early detection of suspicious items.
Identify Suspicious Transactions
Your institution can analyze and identify suspicious transactions through reporting and monitoring capabilities, real-time alerts, and historical views of data.