Data Solutions & Analytics

Smarter Fraud Detection

Project Overview
Project Overview

Fraud detection is critical in any industry, but particularly so in retail banking. When false positives are on the rise and investigation costs skyrocket, there has to be a better way to protect consumers while minimizing financial burden. Concord was approached by a multinational banking client to help reduce investigation costs and adapt their infrastructure to provide near real-time analytic insight.

Results area

Concord partnered with IBM Global Business Services to design and develop a solution that performed analytics processing in parallel with the banking client’s legacy system. As part of a larger Big Data Proof of Concept, Concord and IBM leveraged InfoSphere Streams, InfoSphere BigInsights, and SPSS to conquer the false positive problem and enable real-time analytics.

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