The biggest headache for most payment operations teams is cost control — and a large part of it comes from fraud management:
- Investigation teams waste large amounts of time just assembling the data needed to make decisions.
- Detection engines are always playing catchup with the latest fraud patterns.
- Ever changing regulations increase the time and cost required to reach compliance and meet audit standards.
Given their scope and impact, replacing core fraud systems is not an option for most firms. But instead of replacing them, you can improve the investigative process with augmented investigation, and improve the detection process by enhancing current systems.
This whitepaper describes three ways financial services firms can use TIBCO solutions to lower the cost of investigations through faster results, reduce fraud losses through better detection, and simplify audit and regulatory compliance through centralized access to information.