NOTIVA Central is a real-time, centralized, banking business intelligence driven, comprehensive Fraud Risk Management (FRM) solution. It is designed and developed for Banks to analyse the entire flow of its customer transactions through its various channels, analyse each channel transactions against its necessary bank-defined rule-sets, identify all the possible fraud-trigger points and follow a customized workflow process for fraud analysis and detection, prevention and alert.
How It Works
The tool sources transaction data from various channels such as RTGS, NEFT, IMPS, CHEQUE, POS, CASH, ATM, FUND TRANSFER, etc., and routes them through the rule engine processing module where transactions are analysed and behaviours are identified based on the bank defined rule sets. Based on the analysed behaviour, the alert message processing module kicks into action generating timely alert and notifying relevant parties as per the respective rule set. Lastly, the workflow processing module comes into effect wherein the flow of the suspect transaction analysis and investigation follows a predefined workflow defined by the bank. First it goes to the maker/checker at the branch level, followed by the analyst and the FRM teams at the central level. Lastly, the admin stamps the transaction categorizing it as non-suspicious, suspicious or fraud, at which point it flows back to the CBS for the necessary actions of clearing, further investigation and legal action respectively.