Project Overview

A large international bank required an implementation of Actimize’s Fraud Management Solution (IFM), for Corporate Payments Fraud detection. The bank required the solution in order to calculate the transaction risk score and determine what action should be taken to mitigate fraud. The IFM platform was part of the bank’s strategic solution for fraud detection & prevention and as such had immense importance.

Challenges

1. The client had a long list of business requirements, some that could not be fulfilled with Actimize’s OOB solution.
2. The project faced substantial obstacles to reach go-live target date due to a 4-month delay caused by an external vendor that was tasked with creating the bank’s interface, which was a pre-requisite to implementation of the IFM solution.
3. Limited flexibility of the bank’s interface, which meant that any changes needed to accommodate new business requirements such as additional models, were complex and time-consuming, resulting in even more delays.

Project Solution

The Matrix-IFS team worked closely with the client’s fraud and IT departments to implement a customized corporate fraud solution that included:

• Gap analysis to determine which business requirements were covered by the Actimize solution, and which should be covered by the Matrix-IFS customized implementation effort.
• Planning and designing the architecture for the bank’s interface, including core banking systems integration, which was originally tasked to in-house teams or to other external vendors.
• Development of end-to-end stockpiling solution to load raw data into the solution profiles without the dependency on the bank real-time systems availability. Thus, “correcting” the project delays that were caused by the external vendor and ensuring the project go-live original date remains intact.
• Development of a multi-model routing payment solution that enabled the bank to utilize several Actimize fraud detection models without changing the bank real-time system interface.
• Implementation of additional interface for real-time detection and prevention to validate each SWIFT payment made.
• Finally, the Matrix-IFS team led the Bank through the go-live process and performed Policy Manager Rules Tuning, as well as integration with external systems in order to enrich the product’s detection abilities.
• Once the project was complete, Matrix-IFS provided the bank with post-production support (L3), Actimize tuning support and Case Management System User Training.

Matrix-IFS’ Value

• Matrix-IFS was able to design and implement a creative customized solution that answered the detailed and complex list of business requirements.
• Matrix-IFS accompanied the bank’s through every step of the way, offering guidance and expertise even on tasks that were out of the project’s scope
• The bank received the fraud prevention system they required; an efficient fraud detection solution with greater operational effectiveness than before.