Fraud Detection and Prevention
The trend towards Instant Payments is clear by now. But as some like to say, Instant Payments means instant fraud. Banks have a tough time finding fraud detection solutions that work within the difficult time constraints of an Instant Payments flow. National Banks and clearing and settlement institutions are looking for centralized solutions to help their participant banks.
Real-time Fraud Detection
With the advent of 24/7 Instant Payments systems, Montran’s Fraud Detection solution is fully prepared to offer real-time fraud detection complying with Instant Payments latency requirements, helping banks overcome a major obstacle in joining Instant Payment schemes.
Independent or Centralized Deployment
The Montran Fraud Detection solution can be offered directly to commercial banks, as well as a centralized multi-tenant environment offered by Instant Payments operators (or any other CSM) to their participants. As a value added service, this will ensure seamless participant onboarding to Instant Payments infrastructure with minimum or no integration effort.
ISO20022 Compliance and Multi-channel Support
The Montran Fraud Detection solution natively supports ISO20022 messages used by all recent RTGS, ACH, or Instant Payment systems around the world. It also supports the older format (SWIFT MT, ISO 8583, NACHA and many local CSM formats).
Sophisticated Fraud Detection
The Montran Fraud Detection solution uses a framework combining a customizable rule engine, risk scoring, behavioral anomaly detection based on historical trends, smart black/white listing, geolocation, limits, and velocity.