Existing financial crime solutions suffer from two problems: many false positives and long investigation times. The curse of existing crime-fighting solutions for financial institutions is that they are black boxes that require hefty consultancy fees to update. On this article, you will find how TIBCO can improve the situation.
Introduction
At Spotfire, we can improve your situation in a number of ways:
- Apply machine learning to your historic data in a fully transparent approach
- Leverage your big data without moving data across and without coding!
- Make machine learning uncomplicated so your business people can interact with it directly
- Compare new models with existing ones to make sure you always improve
- Do a what-if analysis to adjust your investigative efforts to the size of your team and vice-versa
- Understand how good a model is, which KPIs contributed most to it, track model versioning
- Deploy models ultra-fast with Streambase
- Keep track of all alerts and all investigative actions taken on them, such that everything is auditable at any time in the future
- Justify why any transactions received a certain treatment
- Verify that all investigators are following expected procedures, identify bottlenecks, manage workload
Why it matters and how it works
(4.5 minutes)
Where to go to learn more
- Download the Spotfire Template for Busting Financial Crime, load your own data and understand financial crime within your organization, be it AML or insurance claim fraud, credit scoring, or trading floors.
- Review https://www.spotfire.com/content/dam/spotfire/documents/e-book/fight-financial-crime-with-intelligent-anomaly-detection.pdf
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Play with the Spotfire template using a free trial Cloud Account (get one here):
- A cross-industry AI Streaming Machine Learning tutorial aimed at either business users wanting to set up a machine learning strategy for their business, or advanced data scientists wanting to put their models into production in real time (download or just play). Learn how to adapt it to maverick lot, AML, churn, credit scoring, fraud, and claim management, anytime you need to separate one group of cases from the rest.
- A supervised learning template that uses different models at once to allow users to choose the best (download).
- A network chart template that allows users to enter relationships between potentially criminal nodes and spot other members of their crime ring. Forensics on potentially huge data volumes (download or just play).
- read wp-busting-financial-crime-with-tibco-web (1)
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