Fraudulent transactions are rising fast and financial service organizations need to do more to keep pace. Fraud detection tools are used to flight potentially fraudulent transactions but over 90% of cases will be false-positive and currently, large teams are needed to review these. This is where Blue Prism and Rainbird fraud investigation solution can take over from manual processing.
Blue Prism first collects the case data from the company systems before passing this to the Rainbird decision-making platform. Rainbird has modeled the best-practice expertise of fraud investigators so that it can automate decisions at scale in just seconds. Decisions can be 100 times faster and 25% more accurate with Rainbird providing a percentage certainty level for all of its responses. An audit trail of Rainbird is a reasoning process and provides full explainability of the outcome. With Rainbird automating a very resource-intensive decision-making process is at speed and scale. This decision is then passed Blue Prism to drive the next action whether notifying the end customer or logging this on systems like ServiceNow and completing the process.
Let’s sum up what has been written: intelligent fraud prevention from Blue Prism and Rainbird delivers operational efficiency, reduces fraud, and enhances the customer experience.
