BANKiQ FRC solution is real-time, cognitive with automated preventive abilities. BANKiQ FRC software – STR module and BANKiQ FRC software – FRM module is well integrated amongst itself. Solution integrates natively with the Payment platform or Transaction Channels through its Fraud & Risk adapter and has been architected for real-time Transaction Monitoring and interjections. Response-time is less than 100ms and it operates with an automated outlook.
Its capabilities include real-time Transaction monitoring, Investigations, pre-packaged STR Rules, STR Reporting, pre-packaged Acquirer Fraud Rules & Scenarios, Inbound/Outbound integration capabilities to exercise controls and interventions, Case management, Workflow management, Link analysis, Management accounting, Vigilance, Access Portals to Acquiring Banks and Merchants etc.
The heart of the system is the Decision Engine which has Fraud detection capabilities equipped from rules and scenarios defined to it and also by self learning Cognitive Machine Learning (ML). The Product is facilitated by data management and data pipelines which makes the system potent with information and intelligence. All these capabilities ensure minimum friction for good transactions and maximum protection against the bad ones. BANKiQ FRC solution complies to all data protection and data security requirements all through its modules and their workings.