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Using Big Data and Analytics to Combat Fraud Loss
New Book from CA Technologies Revathi Subramanian Provides Insight for Banks on Using Data-Driven Analytics to Transparently Protect Users, Reduce Fraud, and Increase User Acceptance
Authored by CA Technologies senior vice president of Data Science, Revathi Subramanian, the book provides insight into how the use of accurate enterprise-wide data, combined with data-driven fraud detection systems, can have a transformational effect on the banking industry.
It provides tips and insights for fraud management professionals on using technologies like neural network predictive modeling, user behavior-based pattern recognition, and statistical big data analytics, all part of the emerging data science discipline, to reduce the risk of fraudulent activities in their business.
An excerpt reads, “The use of neural network-based behavior models in real time has changed the face of fraud management all over the world. It significantly reduced banks’ fraud exposure in areas where there is a need to react in a split second and stop a transaction before money goes into the hands of a fraudster. By strengthening the data enterprise, great strides can be made toward effective enterprise fraud management.”
“CA Technologies pioneered solutions for protecting eCommerce transactions in real time and has helped banks protect their cardholders and increase the volume of online shopping transactions,”
According to a review by Professional Security Magazine Online (http://www.professionalsecurity.co.uk/
Available today by and published by John Wiley & Sons, “Bank Fraud: Using Technology to Combat Losses” also includes:
The challenges of fraud detection in a financial services environment
The importance of data accurately captured, categorized, and stored when using data-driven technology to combat fraud
The use of statistics, including effective ways to measure losses per account and ROI by product/initiative
The Ten Commandments for tackling fraud and ways to build an effective model for fraud management
Learn more about CA Technologies neural network models in the “Payment Authentication Using Advanced Models (http://www.ca.com/
About the Author
Revathi Subramanian is senior vice president, Data Science, at CA Technologies. Before joining CA, Revathi was the co-founder of the SAS Advanced Analytic Solutions Division, where she led the development of a new enterprise real-time fraud decision platform utilizing advanced analytics. Revathi is credited with multiple patents including those in real-time scoring technology in fraud and risk management. Previously, Revathi held various leadership roles in HNC Software (acquired by FICO in 2002), where she built innovative transaction-
About CA Technologies
CA Technologies (NASDAQ: CA) provides IT management solutions that help customers manage and secure complex IT environments to support agile business services. Organizations leverage CA Technologies software and SaaS solutions to accelerate innovation, transform infrastructure and secure data and identities, from the data center to the cloud. Learn more about CA Technologies at www.ca.com.
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