Artificial Intelligence-Equipped FraudAxis Launched by Compass Plus Technologies: A Comprehensive, Instantaneous Fraud Detection System for Financial Sectors
In the ever-evolving world of finance, the threat of fraud is a constant concern for financial institutions. To combat this, Compass Plus Technologies has unveiled a new solution – FraudAxis.
FraudAxis, announced on Finovate, is a next-generation fraud management platform designed to help financial institutions detect, prevent, and predict fraud in real time. Built on a modern, microservices-based architecture, it offers a flexible rules library, sandbox testing environment, and advanced investigation tools.
Maria Nottingham, Managing Director and Founder at Compass Plus Technologies, stated that FraudAxis combines the power of AI with proven rules-based analysis. This hybrid approach allows financial institutions to respond earlier and faster to new fraud tactics, ensuring they stay one step ahead.
One of the key features of FraudAxis is its ability to adapt in real-time, protecting the people who trust financial institutions. It reduces false positives and accelerates fraud detection, safeguarding customer trust without slowing down operations or disrupting user experience.
FraudAxis also offers cross-channel analytics, enabling financial institutions to protect against fraud across digital and physical channels. With its self-learning models, institutions can reduce false positives at scale, adapting in real-time to changing behaviors.
The platform also provides fraud teams with 360° visibility and control, with customisable workspaces. Financial institutions can analyse and optimise their fraud strategy with real-time dashboards and a comprehensive reporting suite.
With FraudAxis, financial institutions can shift from reactive to proactive fraud management. By predicting and preventing fraud before it happens through behavioural profiling and anomaly detection, they can equip themselves with the agility and intelligence required to outpace fraudsters.
In a world where fraud is a constant threat, FraudAxis provides the power and intelligence for financial institutions to respond in seconds to fraud. It's a crucial tool in the fight against fraud, ensuring the safety and security of both institutions and their customers.
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