Finastra's platform features NetGuardians' fraud prevention app

The app uses artificial intelligence to proactively detect fraudulent payments in real-time and reduce fraud losses. NetGuardians’ operational experience shows that compared with traditional anti-fraud offerings the software reduces the number of false positives by up to 83%, resulting in bank staff spending an estimated 93% percent less time investigating suspicious payments. The NetGuardians app, available via FusionFabric.cloud, is pre-integrated with Finastra’s corporate payments, cash management, and retail banking solutions: Fusion Global PAYplus, Fusion Payments To Go, Fusion Cash Management, Financial Messaging Services, and Fusion Essence. 

The app uses AI and machine learning to analyse customer behaviour and accurately score payments for fraud. This approach allows banks to reduce their fraud losses while blocking fewer legitimate customer payments than traditional rules-based fraud detection engines. Using the NetGuardians pre-defined AI/ML risk models, banks can tackle payment fraud challenges by detecting suspicious payments coming from social engineering techniques or scams, such as invoice redirection, CEO-fraud, and others. When a fraudulent transaction is detected, it is temporarily held, and an alert is generated in real-time and routed to the relevant stakeholders through risk dashboards and forensics tools for further investigation.