Friday, 24 November 2017

WeDo releases comprehensive fraud detection system

WeDo Technologies
Tuesday 25 February 14

WeDo Technologies, a worldwide leader in Revenue and Business Assurance software, today announced the latest release to its fraud management software suite, RAID:FMS 7. With the new release, Service Providers will be able to take an enterprise-level view of fraud, managing risk threats such as International Revenue Share Fraud (IRSF), Bypass or Wholesale Fraud and Private Automated Branch Exchange (PABX) Hacking more effectively during the release of new products and services. Taking advantage of Big Data architecture integration…

WeDo Technologies, a worldwide leader in Revenue and Business Assurance software, today announced the latest release to its fraud management software suite, RAID:FMS 7. With the new release, Service Providers will be able to take an enterprise-level view of fraud, managing risk threats such as International Revenue Share Fraud (IRSF), Bypass or Wholesale Fraud and Private Automated Branch Exchange (PABX) Hacking more effectively during the release of new products and services.

Taking advantage of Big Data architecture integration, RAID:FMS extends its analytical capabilities to provide the increased visibility and intelligence needed to identify, investigate and stop fraud across multiple levels of Service Provider activity.

RAID:FMS 7 is built on RAID:Enterprise Business Assurance (EBA) architecture, a common foundation for connecting organisational decision-making. It now extends collaboration capability by accelerating the exchange of information using one even more intuitive interface during case investigation and resolution.

Key features include:

• Advanced Fraud Detection (AFD) takes RAID:FMS 7 to the next level of intelligent fraud detection. AFD empowers fraud managers with an analytical tool that allows them to build their own data mining models, customised to customers and their behaviour, by using a simple step-by-step wizard. AFD also includes a number of advanced statistical techniques that:
o detect subscriber subsets exhibiting suspicious behavior
o use predictive modeling to detect subscribers with a high probability of being fraudsters
o help prioritise potential fraud cases by detecting fraud probability

• New detection performance analysis and rules optimisation features for a more powerful rule calibration and for increased investigation efficiency.

• Improved Contextual Awareness enables service providers to collect additional information during the detection of various fraud types. Empowered by Big Data architectures, RAID:FMS 7 is now more capable of processing huge amounts of information faster and from diverse data sources. This not only accelerates the process from detection to resolution but also provides additional processing capabilities for new sources of intelligence in a constantly changing environment.

• Enhanced user interface sets a new benchmark for response and resolution times, managing every step of fraud detection and investigation until the point of resolution. By analysing usage patterns RAID:FMS 7 is able to align user and software goals to create an interface that accelerates time to resolution at the same time as achieving user consistency and familiarity.

“The pace of change in today’s challenging market creates a huge pressure on Service Providers to release products and services rapidly,” commented João Resende, Vice President of Product Development, WeDo Technologies. “Increasing this speed to launch, combined with the introduction of new technologies and business models, creates greater exposure to risks that are often not considered, opening up systems to new vulnerabilities. Our updates to the RAID Fraud Management Software set a new standard for how our customers address fraud risk, enabling them to take actionable insights from the enormous amounts of data that they are faced with. RAID:FMS 7 empowers our customers, equipping them with best in class software to handle the plethora of challenges and threats they face and protect their bottom line.”

WeDo Technologies is this week exhibiting at the GSM Association’s Mobile World Congress from 24th to 27th February. The company will be in Hall 7 on stand 7G09 and will be demonstrating these new updates to its RAID:FMS software.

To see a video and find out more information about RAID:FMS 7 visit: [http://www.wedotechnologies.com/en/fraud-management]


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