Zurich Insurance Group deploys RiskShield to tackle fraudulent actions

Friday 25 April 2014 11:50 CET | News

Germany-based business technology company Inform and European provider of integrated and value-based management arvato infoscore have announced that RiskShield has been selected by Zurich Insurance Group (Zurich) to serve as a fraud detection solution for their counter fraud efforts across their global network of subsidiaries in emerging countries.

The RiskShield application has been designed to enable financial institutions to tackle potential fraud in payment transactions and virtual channels, such as internet banking. The application is based on several detection systems which are set to provide fraud specialists with an overview of all the banking processes as well as with the ability to trace and stop a fraudulent payment if necessary. By leveraging multiple data sources (customer profiles, browser/device information, transaction history, along with Informs technology, pattern recognition, network analysis and conventional rule based prevention), RiskShield provides a decision engine to route transactions with the right authentication level.

Zurich has plans to implement RiskShield starting with Latin America followed by business units in Europe, Asia Pacific and South Africa. Mexico was the first country to go live with RiskShield.

Inform develops and markets software systems to optimize business processes on the basis of operations research and fuzzy logic. arvato infoscore is a global financial service provider and part of Bertelsmann SE & Co. KGaA as a subsidiary of arvato AG.

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Keywords: Inform, arvato, RiskShield, online fraud, online security, fraud detection
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime