Fraud Detector is a standard, easy-to-customize, Harmony solution that uses business rules and expressions to detect suspicious transactions. It is Do It Yourself IT - aimed at domain experts - who can easily add new rules and it is considered to be one of the most compelling, innovative, IT solutions available today. The slideshare describes the benefits & shows how it's implemented in Harmony (in a matter of hours !!!

1. Harmony Fraud Detector
the easiest, fastest and most flexible IT solution for
detecting fraud
Real-time fraud detection

2. Vulnerable to “fraudulent” transactions ?
Use our real-time fraud detection service:
the easiest & fastest road to detect fraud.
Unlike traditional IT systems,
real-time rule changes
enable high detection levels,
and workflow controlled actions to follow-on.

3. This might be a fraudulent situation;
how would a bank know,
how to act upon this?
multiple card transactions in a short time frame,
average transaction amount exceeds the account profile setting.
Case 1: debit/credit card fraud

4. Case 2: IRS/belastingdienst benefit claims &
fraud
multiple requests for social benefits,
with identical SSN*
and/or telephone no, and/or email address and/or …
*
BSN in NL, NI in UK
This might be a fraudulent situation;
how would the IRS know,
how to act upon this?

5. Case 3: Wendy confronted with fraud
This is a fraudulent situation;
because Wendy was travelling in Europe.
Obviously, her Bank didn’t know this.
Withdrawal from her account by an ATM in south-east Asia

6. Conclusion
Traditional IT limits to detect fraudulent behavior,
makes it hard to act upon possible fraudulent cases,
no [simple] option for customers to control settings.
limited agility [to act],
increases “workload” [to fix/prevent]
excessive [costs].

7. The solution: Harmony Fraud Detector
A real-time monitoring & case management system
that filters suspicious transactions, creating tasks to
act upon potential fraudulent behavior.
Innovative profiling, adaptive, implemented in a
fraction of the time [it usually takes], at a fraction
of the cost.

8. Benefits
Dual purpose solution / single license fee:
- facilitates domain experts: next-to-none learning curve
- for IT experts: standard architecture & platform
Superior (mainframe) price/performance:
pay only for what you use … (like your electricity bill)
Customer self-service: Customer controlled profiles.
Connects to IoT (Internet of Things): open, sensor & event driven

9. “Fraud detector” monitors transactions:
filters out fraud “suspects”
using “patterns” & customer’s profile.
Creates cases,
assigns cases to groups for follow-up
Fraud detector: what it does

10. Domain experts, like data managers, accountants, fraud investigators,
managers, even directors, define rules;
without the need for IT
specialists.
Rules are simple to create: Do It Yourself IT
the rules spreadsheet is an easy to understand format.
Use decision tables :self explanatory.
Setting-up Fraud Detector

11. The Fraud detector platform
Fraud detector runs on Google*
, Amazon, Linode or your own platform
24 x 7, managing hundreds transactions/second.
supports real-time rule changes
Agile and automated testing using Testimony
DIYIT = business IT, saves time & money, increases quality
*
Google Compute Engine tops all other platforms for scaling, 24x7 and price

12. Who’s using Fraud Detector
• Financial institutions
– Banking, insurance, investment
• e-Commerce
– Companies marketing B2C goods
• Consulting partners
– Forensic knowledge providers
• In need of smart, flexible and high ROI IT solutions

13. Costs / business model
• We deliver a turnkey cloud solution
– licensing income based on:
• Transaction complexity
– Single record / multiple record transactions
• plus [number of] transactions
– Modeling this to “user based” pricing
• plus [number of] account profiles
– charging for extra availability & scalability
• High availability / redundancy 24x7 = 99,998
• “spikes” in transactions
– Xmas shopping, super-sales [days]

14. Nanno van der Laan, co-founder
marketing & sales,
creator of the team
Nikola Kasev, co-founder
creator of Harmony
Minto van der Sluis
creator of Testimony
Nanno, Nikola and Minto (from left)
About us