BANKiQ FRC Overview

BANKiQ FRC is a real-time, Cognitive ML enabled solution for monitoring Merchant on-boarding, Transaction payment monitoring, Suspicious Transaction Reporting (STR) & complete Fraud Management curated for Merchant Acquirers. The Solution is:

FRC Overview

Monitoring merchant onboarding and transactional behaviour, is essential to pro-actively identify anomalous chargeback and frictionless payment conversion. As a Regulated Entity(RE), Suspicious Transaction Reporting (STR) to FIU/Regulator and also providing your Merchants a ‘safe’ payment platform for payment processing is crucial.

Acquiring Banks, Payment Service Providers (PSP), Payment Aggregators (PA), Payment Processors require real-time  monitoring of Merchant on-boarding, Payment Transaction Monitoring & a comprehensive Fraud management solution to support today’s Fast-payments, multi-channel  work-flow and protect their Merchants transactions, be vigilant of transactions processed through their payment platform as well as reputation management.

BANKiQ FRC uses a multitude of fraud detection strategies including pre-packaged curated Fraud rules & scenarios, Adaptive Analytics, Deep Learning, ML, Customer and Transactional Profiling, Behavioural Rules and other probabilistic models on a cross-channel data agnostic basis, both in real- time and batch.

The solution provides strong real-time Link Analysis and Data Visualization, comprehensive Cross-Channel Alert and Case Management, Work Flow, Fraud and Operational Reporting inlcuding XML based STR Reporting, Granular Security, Auditing and Extensive Performance management along with interjection, powerful orchestration and operational control, through a user-friendly graphical console.

BANKiQ FRC platform has a rich variety of features including AI and deep learning, bespoke analytics, a rich rule engine with pre-packaged Acquiring Fraud-rule library, Access Portals for Merchant & Acquiring Banks, and industry leading forensics around the data, link analytics and geo locations, all in an easy to use analyst friendly form factor to support the Merchant Acquiring business.