Fraud Prediction & Financial Crime Forensics

A leading UK High Street Bank

Objective

  • Bank wants to avoid any customer with potential threat to its both retail and corporate segments. The project requirement is to implement all the regular checks & strategies that can be run to identify any existing or any new customer joining the bank and all their related links if any.
  • Objective of this program is to design & develop bank’s Gen-II FCTP (replacing legacy Palantir platform) using a new data & analytics ecosystem in-house.

Our Solution

  • Coforge is the strategic technology partner in this transformation program and designing & developing the solution using New Data & Analytics ecosystem with polyglot storage technologies (HDFS, Neo4J, MongoDB and NuoDB).
  • Data Science (Graph Search and Node & Missing Link Prediction) on Neo4J is the backbone for majority of the investigation use cases (DETECTION ENGINE) like
    • Suspicious Activity Report (SAR).
    • Customer Screening
    • Due Diligence (Ongoing and Enhance)

Impact

  • Significant improvement in agility in analyzing card transactions and finding links between transaction/entity and pre-defined blacklist and graylist entities (people or organizations).
  • Improvement in release velocity
  • License Cost reduction

case studies

Highlights: The Coforge Banking and Financial Services Practice

Wealth and Asset Management | Wholesale Banking | Consumer Lending | Cards and Payments | Trade Finance | Risk Management | Finance and Accounting

  • Servicing over 200 Financial institutions
    • 10 of the top 15 US private banks
    • Over 100 asset managers
    • 15 wealth management firms
    • 6 broker dealers
    • 30 pension funds
  • Over 15 years of Proven Experience in Servicing Capital Markets Firms
    • Asset Under Management (AUM) supported: US$ 1.5 trillion+
    • Financial advisors supported: 6,000+
    • End customer supported: 1.5 million+
  • Over 8,000 Person Years of Solution Delivery Experience
    • 45+ software products supported
    • 350+ releases per year