With Advanced Analytics Applications, Accenture to Help Organizations Stay One Step Ahead of Fraudsters
BENGALURU: Considering security as the top priority, Accenture is all set to launch seven new advanced analytics applications to assist organizations in detecting and remediating fraudulent activities, ultimately reducing losses. The applications facilitate users with tailored analytics insights via visualizations, allowing confident and data-driven decisions on various strategies to address fraudulent activities. Banks, manufacturers, telecommunication companies and government agencies will be the major benefiters of the new move.
The applications were successfully developed in the Accenture Analytics Innovation Center located in Dublin and Ireland. It serves as the company’s global center of excellence, specializing in predictive analytics that targets non-compliance, fraud and abuse.
“As fraudulent behavior can come in many different forms and morph quickly to stay under the radar, organizations across industries are seeking solutions that can help them to quickly identify and reduce this activity to decrease losses,” says Kieran Towey, Managing Director, Accenture Analytics.
Focused on helping banks, the company will introduce Early Warnings that analyzes the incoming data from internal and external sources and effectively monitors credits such as mortgages and loans to identify the potential non-payers. Trade Surveillance is also a part of the company’s offerings that strengthens risk detection and in-house surveillance capabilities by leveraging big data technologies, advanced analytics and text mining algorithms on data. It aims to identify potentially risky and unusual trading patterns.
For manufacturers, Warranty Analytics will be incorporated that provides a deep insight into the warranty issues and offers priority based on actions to effectively solve them. Whereas, for telecommunication companies, Accenture plans to implement the Predictive Fraud Detection solution that detects fraudulent behavior, for instance, an individual acting as a legitimate customer and receives free services. Government agencies will be benefited from the company’s innovative applications like Audit Operations Efficiency, Revenue Fraud Prediction and the Spend Optimizer.
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