4 min read
It's International Fraud Awareness Week, and we'd be remiss if we didn't acknowledge the importance of the global fight against fraud by bringing more features to market today in our Celebrus Fraud Data Platform (FDP)
We launched our Celebrus FDP in June of 2021 with a very simple mantra: catch the fraudster before the fraud. With the ongoing sophistication of fraudsters and the increased speed of digital transformation in today's marketplace, fraud happens faster than ever before. Organizations need better data and sophisticated machine learning to stop these attempts before they happen and alleviate the stress on the fraud management teams. In fact, research by Juniper predicts that fraud losses will reach $206 billion by 2025. The research also found that spending on fraud detection and prevention platform services will exceed $11.8 billion (€9.93 billion) globally in 2025, from $9.3 billion (€7.83 billion) in 2021.
research by Juniper predicts that fraud
losses will reach $206 billion by 2025
In our experience, organizations leverage many enterprise fraud management (EFM) platforms today to protect themselves from all fraud types as best as they can. One theme that is prevalent across all these platforms, however, is that they are starved for better data and insights. With the many limitations forced upon third party solutions, and the data gaps that exist in the industry today, many of these solutions are simply unable to provide a 360-degree view of each individual customer or potential fraudster. This was the core premise behind the launch of our Celebrus FDP.
Better contextualized, real-time behavioral data at a biometric level, powerful machine learning capabilities, and an ability to provide meaningful insights in the correct format directly to existing data-starved fraud management systems in milliseconds gives the enterprise an opportunity to catch the fraudster before the fraud. To further our mission, we are thrilled to announce the following features to ensure better protection against the rise of fraud and scams across the globe:
This capability allows organizations to better follow the activity of mule accounts used by fraudsters often used to steal victims' money. With Sense and Trace, Celebrus FDP captures granular data and profile digital activity in real-time to discover compromised identities. There are two components to Sense and Trace that ultimately ensure more fraud is detected in a timely manner:
Organizations can detect if users are attempting to hide identity and react fast.
This capability uses machine learning and data orchestration to better identify issues across the organization's digital channels. Leverage acceptable ranges and outcomes to alert the business to anomalies. Features include:
For more information or to schedule a demo:
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