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Fraud Detection Software for Financial Organizations
ScienceSoft brings 19 years of experience in financial software development and 35 years in data analytics to create robust fraud detection solutions tailored to the unique needs of BFSI companies.
Automated fraud detection tools help financial service providers spot and proactively prevent customer fraud, malicious employee activities, and third-party threats.
ScienceSoft creates custom fraud detection solutions that use rule-based algorithms for quick detection of known financial fraud schemes and employ artificial intelligence (AI) for precise identification of emerging threats not recognizable by any conventional mechanisms.
Here are some examples of specialized financial fraud detection solutions we deliver:
Software that monitors digital and offline banking transactions in real-time and uses rule-based and AI-powered algorithms to spot and address anomalies signaling potential card hacks, customer identity theft, and unauthorized funds transfers.
Payment fraud detection solutions
Software that provides advanced behavioral and transactional analytics to detect and prevent fraudulent activities, such as card-not-present fraud, payer account takeovers, card skimming, and money laundering (including layering) schemes.
Software that employs conventional and intelligent mechanisms to recognize and prevent insurant identity forgery, faked claims, non-compliant enrollments and payouts, fee churning, and malicious manipulations across the insurer’s data.
Investment fraud detection solutions
Software that tracks investment account activities and trading patterns and automatically identifies insider trading, Ponzi schemes, market manipulations, and broker misconduct, safeguarding investment firms from financial crimes and compliance violations.
Lending fraud detection solutions
Software that relies on advanced predictive analytics to spot discrepancies in borrower data (e.g., synthetic identities, misrepresented income), falsified loan applications, and underwriter fraud, preventing illegitimate access to credit services.
Mortgage fraud detection solutions
Software that leverages ML-supported data verification and pattern recognition to flag inconsistencies in mortgage applications and recognize forged documentation, helping mortgage lenders prevent straw buying, air loans, and double-sales.
Discover How ScienceSoft’s BFSI Clients Succeed with Automated Fraud Detection
What makes ScienceSoft different
We achieve project success no matter what
ScienceSoft does not pass mere project administration off as project management, which, unfortunately, often happens on the market. We practice real project management, achieving project success for our clients no matter what.