Fraud Detection for Payment Processing

Business Needs

In the realm of financial security, Elevondata faced the challenge of consolidating data into a single Data Lake to establish a comprehensive customer view. The demand for automating customer onboarding while adhering to AML, KYC, and OFAC regulations was pressing.

Key Features

• Events based processing in Near-Real Time (NRT) for AML, KYC, and OFAC compliance.
• Aggregated NRT dashboard for real-time visualization of anomalies.
• Bespoke NRT Replication using Talend for efficient delta loads.
• Data Lake for "Programs" (B2B Client data stores) to support Data Sciences.
• NRT delivery of analytics and consolidated anomaly monitoring dashboards.
• Ingest data from MySQL instances into AWS Redshift.

Elevating Security with Advanced Fraud Analytics

In an ever-evolving landscape of financial security, Elevondata embarked on a groundbreaking journey into the realm of fraud analytics. Fueled by the need to bolster defenses against emerging threats, Elevondata strategically integrated cutting-edge techniques into their existing framework. This innovative approach transcended traditional compliance measures, as Elevondata harnessed the power of advanced machine learning algorithms to proactively identify and counteract fraudulent activities. This additional layer of protection not only provided clients with enhanced security but also positioned Elevondata at the forefront of fraud prevention.

Benefits

• Rapid pilotgo-live within 90 days, showcasing agility and speed to value.
• Delivery of compliance reports to funds issuing/processing banks and B2B clients.
• Reduced Total Cost of Ownership with minimal additional resource deployment.
• Cost-effectiveness due to lower infrastructure and platform costs.