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Vigil fraud monitoring service

With the growth of debit and credit card transactions and the introduction of real-time payments, Australian financial institutions and their customers are becoming increasingly attractive targets for fraudsters.

Having a fraud strategy and solution in place that can help your organization to stay ahead of emerging fraud trends and protect your customers, brand and balance sheet is critical.

Our intelligent fraud monitoring and detection service, Vigil, combines our extensive fraud monitoring experience with advanced artificial intelligence and machine learning technology to help predict and prevent fraud losses before they occur.

With 24/7 monitoring by experienced fraud operations and a flexible and agile platform, Vigil can decline potentially fraudulent transactions in real-time with greater power and accuracy for support payments.

Our online case management tool provides your organization with direct access to view transactions and alerts, giving you more visibility to emerging fraud trends than ever before.

Vigil for the New Payments Platform

With the launch of the New Payments Platform, there is a perception that the speed of real-time payments will increase the risk of fraud and leave customers vulnerable to attacks. In reality, real-time payments aren’t inherently riskier than other payment methods, but organisations should be vigilant to the evolving threat of fraud and increase their focus on planning and prevention.

Partnering with Cuscal can help your organisation to manage the risk of real-time payments fraud.

Our Vigil for NPP service combines our extensive fraud monitoring experience with the latest artificial intelligence and machine learning technology from our partner Feedzai, to deliver instant decisions about the authenticity of real-time payment requests without sacrificing the real-time authorisation response times that are essential for the New Payments Platform.

The Vigil for NPP service supplements the blacklist functionality of Cuscal’s core NPP solution, providing your business with an enhanced fraud protection service that integrates seamlessly with Cuscal’s NPP Solution.

Vigil fraud management platform

At the core of the Vigil service is our fraud management platform. This platform is powered by Feedzai – a provider of leading-edge fraud detection used by major banks, payment businesses and retailers globally.

The platform leverages advanced artificial intelligence and machine learning technology, combined with big data, to accelerate the detection of emerging fraud trends which can help to protect businesses from fraud loses.

Agile models ensure the platform proactively keeps pace with fraud as it evolves, scoring transactions at scale without compromising on the response time required to spot and stop high-risk transactions.

Cuscal will have access to the latest data science modules to continually evaluate the effectiveness of the platform’s fraud models – building, testing and deploying new models to strengthen fraud rules and reduce the number of false positive alerts.

Harnessing the power of big data, our platform can turn big data inputs into the insights required to reduce risk and combat fraud.

Instantly ingesting available event signals from multiple sources – including transactional data, online sessions, customer data, device data and third-party data – the platform generates a 360 degree view of the customer’s normal patterns of behaviour which helps to identify fraudulent transactions.

Transactional and event data, paired with sophisticated machine learning algorithms, allow us to create a profile of individual customer behaviour to reach new levels of sensitivity and detect fraud with greater power and accuracy.

Profiling behaviour on an individual level helps the platform to maintain very low false positive ratios, allowing your customers to transact in a frictionless manner.

Our platform has the ability to process large amounts of data, enabling fraud analysts and operations teams to respond quickly and feed information into the platform to retrain modelling to respond to changes in fraud trends or new events.

By adapting to this human intelligence through automated feedback loops our platform can apply this knowledge to future transactions without the need for manual coding, so we can remain adaptive rather than reactive to stay ahead of coordinated attacks and emerging fraud trends.

Vigil fraud team

Our fraud team monitors transactions around the clock to protect against fraud at its most common time – after business hours.

The Vigil fraud team assess all transactions that are blocked, or alerted for investigation by our fraud management platform, to determine whether the block should be removed or if additional action should be taken.

We contact customers on your behalf with the upmost professionalism and sensitivity to confirm the legitimacy of questionable transactions and take action, if required.

The assessment outcomes from our team are automatically fed back into the platform so that it learns from, and adapts to, new fraud patterns and suspicious events without the need for manual coding, so we can remain adaptive rather than reactive to stay ahead of coordinated attacks and emerging fraud trends.

Vigil Case Manager

With direct access to reporting, transaction decisions and streamlined workflows between Cuscal and your organisation, Vigil empowers you with a complete end-to-end view of fraud.

Vigil Case Manager provides your business with an easy to access interface, allowing you to monitor and review items related to your customers.

With real-time access to statistics, analysis and fraud reports, Vigil Case Manager arms your business with the information you required to track your fraud results.