As the speed and volume of digital financial transactions continues to increase, organizations require sophisticated fraud management solutions to stay on top of fraud detection and prevention. In years past, fraud management solutions only needed to look backwards at historical data, finding potentially fraudulent transactions after the fact. But with the proliferation of automated systems, fraud management solutions today are able to observe digital behavior in real time and flag fraud as it takes place as long as the fraud detection software can process data fast enough.
And that’s the problem, the window for spotting fraud and taking steps to stop it is less than one second. With massive amounts of data in motion, superior fraud management solutions must be built with incredibly fast processing speed, since missing even a fraction of potentially fraudulent transactions can add up to tens of millions of dollars in losses for large financial institutions. That’s why companies seeking the industry’s leading fraud management solutions consistently turn to MSI.
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