Real-Time Fraud Detection and Prevention

Patterns of fraud continuously evolve making it extremely difficult for financial institutions to pinpoint and proactively prevent such behavior. As financial institutions grow through acquisitions, it becomes even more difficult to track transactions that span business lines and geographies. For example, transaction scoring logic needs to be continuously updated to take into account newly identified fraud patterns so as to be able to detect credit card fraud at the point of sale in real-time or wire fraud prior to releasing funds. By correlating a customer’s interactions with various products and channels, transactions that are inconsistent with normal behavior can be immediately flagged for review. Likewise, comparing claims with identified fraud patterns can help flag suspicious claims. By immediately alerting the right individuals to potential fraud, investigation teams can be deployed more effectively without wasting huge amounts of time and money on false positives.

Vitria OI can assist with identifying and preventing wire fraud, money laundering activities and other suspicious transactions, while it still counts. For instance, the solution can help monitor for spikes in cash withdrawals from ATM machines or for sudden increases in purchase activity across geographically dispersed locations by the same account and immediately alert investigation teams to potential fraud in progress. Rules can be configured to detect and alert teams to sudden surges in money transfers between accounts, in real-time, so that they can immediately investigate these transactions and quickly shut down fraudulent activity.


Vitria OI’s unique activity monitoring capabilities can help financial institutions establish baselines for wire transfers and other transactions by uncovering and analyzing typical patterns. It can then continuously monitor live transactions and flag anomalies or exception paths relative to previous behavior. Its activity discovery capabilities help follow the bread crumbs left behind by transactions as they traverse across multiple channels and systems. It visualizes these activity patterns and can even predict the next likely action using Bayesian techniques.

To identify and stop fraud in process, Vitria’s stream processing engine can help correlate and analyze data from a wide variety of sources including click streams, payment systems and other online interactions in real-time. The solution can immediately kick off a process-based workflow to engage the fraud investigation team when a suspicious transaction is detected.

Vitria OI can also monitor customer accounts and raise alerts based on risk factors such as high-dollar transactions or transactions that occur in quick succession so as to prevent loss of funds. It can help identify customers that suddenly accept a credit card and then increase or maximize their credit limits; the fraud team is then alerted to the possibility that this customer might close out the account and disappear.

Read how Vitria OI can help financial services firms engage in more targeted one-to-one marketing in real-time.