FraudNet™ from Fiserv is a powerful automated transaction monitoring engine that helps financial institutions to proactively identify potential fraudulent threats, mitigate risks and maintain regulatory compliance.
FraudNet is a centralized fraud detection and integrated case management system that scores each online bill payment and halts the processing of suspicious transactions until they have been reviewed by fraud specialists. The sophisticated FraudNet engine leverages advanced algorithms and proprietary negative file history, making it extremely accurate in detecting fraudulent transactions before they are processed. The FraudNet engine enables you to proactively identify potential fraudulent threats, mitigate risks and assure regulatory compliance.
Through analyzing high-volume data streams, detecting complex suspicious scenarios and examining behavioral patterns, FraudNet continually updates these rules to provide the real-time intelligence you need to identify fraudulent transactions.
With FraudNet, you leverage rule sets and negative files with all participating partners in a real-time, transaction-monitoring environment, linking to an ever-expanding, increasingly intelligent and proactive fraud detection engine. The combination of leading technology and proven rule sets make FraudNet a powerful tool for you and your institution. FraudNet enables your customers to feel secure by replacing traditional paper financial transactions with electronic versions.
FraudNet is a complete payment fraud protection and management solution that enables your financial institution to:
- View customer transaction history and account information
- Issue fraud alerts to customer service systems
- Take immediate action on fraudulent transactions during processing
- Cancel or freeze account activities
- Manually add externally reported fraud cases
- Add to negative files as the alerts are evaluated