ReadiONE Software Suite prevents employee related online branch banking frauds like account frauds, fraudulent debits, dealing with self accounts, multiple and unusual transactions on the same account, fund transfers to fraudulent accounts, identity theft, Authority / Position misuse and so on. Enterprises can easily add new solutions like Financial Crime Surveillance, Real-Time Risk Monitoring & Mitigation and Opportunity platform on ReadiONE: Right-Time Response System platform, as and when required.
- ReadiONE is a new generation multi-layered, holistic, real-time Online Branch Banking Financial Fraud prevention solution that saves Banks and financial organizations millions of dollars annually by proactively preventing online branch banking frauds from trusted employees who circumvent the policies, procedures, rules and regulations of the organization and perform unauthorized, fraudulent or suspicious transactions at Bank’s branches
- ReadiONE proactively monitors users (employees), transactions and devices in real-time to detect suspicious and fraudulent patterns, make real-time decisions and respond at the right-time, thereby preventing frauds before they result in a damage.
- ReadiONE is built ground-up using new generation innovative technologies, namely metadata, service-oriented architecture, event-driven architecture, business process architecture, composite event processing and smart scoring engine. Therefore, ReadiONE is flexible, easy to configure, quick to implement, resulting in low TCO(Total Cost of Ownership).
- ReadiONE empowers business units - It is designed to be managed by business analysts as opposed to IT analysts.
Why is ReadiONE innovative?
ReadiONE is innovative on many counts. It takes a “holistic” multi-layered, cross-channel / cross-system approach to online transactional security & risk mitigation. In addition, it provides Incident Management, Case Management and Dashboards. To be more specific:
- Innovative Transaction Data Management: No need for costly, inflexible and time consuming data warehouse! Traditional fraud detection systems use "data at rest" techniques, that builds a data warehouse, a costly, inflexible and time consuming approach. This only allows post-facto analysis. ReadiONE uses innovative new generation “data in motion" approach, for faster, cost effective real-time solution.
ReadiONE indexes your transaction data coming from various channels of disparate systems and sources, and creates a highly efficient event cache. This approach allows you to add any new data source quickly and easily without expensive schema modifications. Our innovative "data in motion" indexing and event cache allows predictive, real-time or near real-time analytics and response, something not possible with traditional systems.
- Innovative Cross-Channel / Cross-System Detection: Under the ReadiONE hood is a powerful cross-channel / cross-system real-time scenario detection engine. Not only ReadiONE comes with out-of-the-box fraud and compliance scenarios, it also allows business analysts to easily and quickly build and deploy new ones as and when needed by their businesses.
- Innovative Cross-Channel / Cross-System Fraud Analytics: ReadiONE comes with a smart scoring engine that results in more accurate incidents, with minimum false positives. All this means additional cost savings, with lesser number of Incident Analysts [Fraud Analysts].
- Innovative Response Management: ReadiONE comes with a user friendly configurable rule engine and BPEL based graphical business process management system. This allows business analysts to easily and quickly configure the response system based on specific business needs.
- Incident Management & Case Management: ReadiONE is a role based system, allowing business analysts to easily set-up organization hierarchy, user roles etc, for organization specific Incident and Case management.
- Dashboard: ReadiONE comes with a graphical dashboard system. Both real-time and historical reports are made available. This is a role based system, which is easy to configure.
- Innovative Technologies: ReadiONE is designed to be configured by business analysts, allowing businesses to respond to dynamic market changes quickly and easily. System is built on Meta Data, allowing any changes to be "hot" deployed. System uses innovative, new generation technologies that are highly cost effective, user friendly and quick and easy to configure and deploy. This results in substantially lower Total Cost of Ownership/ TCO.