Outseer Fraud Manager Reviews & Product Details

At a Glance • 15 Billion+ transactions and digital interactions protected a year • Protects the user's digital journey at every step, in multiple channels: Web, mobile, Phone, IVR, ATM, Branch and Open Banking (API) • Outseer Intelligent Platform™ helps orchestrate all your fraud prevention efforts effectively • Highest reported fraud detection with lowest intervention rates in the industry • Flexible deployment options: on premise or Cloud Outseer Fraud Manager™ Helping You Protect Every Step of the Customer Digital Journey The dramatic increase in consumer adoption of digital interactions and transactions during the pandemic has prompted organizations everywhere to accelerate their digital transformation efforts. Whether it’s web, mobile, ATMs, call centers, IVR systems, or open APIs, speed and convenience are now simply expected. At the same time, fraud continues to proliferate, with cybercriminals leveraging phishing, account takeover, man-in--the-browser, APP scams and other advanced attacks to gain unauthorized access to customer accounts. The significant rise and reach of data breaches has also exposed mass sets of data and customer credentials that are then used for account takeover. A new data breach is announced weekly. In fact, there were 4,145 publicly disclosed breaches that exposed over 22 billion records in 2021. Outseer Intelligent Platform™ which underlies Outseer Fraud Manager provides comprehensive fraud protection across the digital journey, streamline fraud operations and lower fraud losses all while maintaining seamless user experience which in turn drives increased revenue and profitable growth. At the core of the platform is the Outseer Risk Engine™, built for precision detection, utilizing the most effective signals to detect and prevent fraudulent activity. Our predictive algorithms work in real-time to analyze hundreds of signals coming from the Outseer Global Data Network™, our Partners, and our customers. How It Works Outseer Fraud Manager is powered by the Outseer Risk Engine™ that accurately assesses the risk associated with each transaction and digital interaction during the user digital journey. By applying risk-based approach, only small number of activities or transactions are asked for additional authentication that can be done using the out of the box step up authentication options or by leveraging the organization authentication tools. Outseer Fraud Manager orchestration capabilities allow organizations to share third party signals with Outseer Risk Engine to get an integrated risk score. Outseer Risk Engine™ The Outseer Risk Engine, which is at the core of the Outseer Intelligent Platform,™ is built for precision detection. The Outseer Risk Engine analyzes hundreds of signals coming from the Outseer Global Data Network™, our Partners and our Customers, and uses predictive algorithms to detect and prevent fraud in real-time. It uses an advanced machine learning statistical approach to calculating the risk score. This approach looks at the conditional probability of each event to evaluate if its most likely genuine or fraudulent given the known facts or predictors. All available factors are taken into consideration but weighted according to relevance; the most predictive factors contribute more heavily to the score. The predictive weighting calculations are updated daily based on authentication results and case management feedback. Behavioral Profiling Our behavioral profiling compares current activity with established customer behavior to detect deviations from normal that may be indicative of fraud. Multiple parameters are examined including frequency, time of day, and type of activity. For example: Are these payment types and associated transaction attributes consistent with typical transactions for this user? Outseer Global Data Network™ Outseer Fraud Manager uniquely benefits from data signals contributed by the Outseer Global Data Network – a globally shared, fraud intelligence consortium that gathers data from transactions spanning thousands of companies in numerous industries around the world. When a member of the network marks an activity as “Confirmed Fraud” / “Confirmed Genuine” in the case management application the associated signals are shared across the network. When an activity is attempted and includes one of the signals from the Outseer Global Data Network the risk is automaticallyadjusted, delivering smarter risk decisions. Device Profiling Outseer’s device profiling capabilities allow you to assess whether a customer’s device is different than one usually used to do business with your organization, or whether it has been connected to known fraud. Parameters analyzed include IP address and geolocation, operating system, browser type, and other device settings. In many cases, account takeover attacks are conducted from fraudsters devices with the genuine user credentials hence accurate device identification and profiling of known devices for a user is key to mitigate account takeover. Outseer device profiling and device identification capabilities use unsupervised machine learning algorithm to calculate an accurate assurance level that reflects the probability the user used the device in the past. Read more in our datasheet.