Transactional Security & Fraud Prevention

ReadiONE Software Suite provides Integrated Transactional Security & Risk Mitigation. It prevents Identity Theft, MITM attacks & Online Financial Frauds for Banks & Brokerage houses. It provides this by Integrating Stronger User Authentication, Fraud Detection and Risk-based Transaction Authorization. In addition, ReadiONE also provides Financial Crime Surveillance, Internal Fraud Prevention and Compliance Management.

Why ReadiONE?

• ReadiONE is a “holistic” multi-layered solution to transactional security & risk mitigation. It provides multi-layered security at every stage of a transaction, and monitors not only the transaction but also the user and the device.
• ReadiONE is a “cross-channel” solution as opposed to a “single” channel solution. Meaning, ReadiONE simultaneously monitors variety of online channels – namely internet, mobile, ATM, etc.
• 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.
• ReadiONE also provides Internal Fraud Prevention, Financial Crime Surveillance, and Right-Time Compliance Management solutions on the same “Right-Time Response” platform.
• Enterprises can easily add new solutions on ReadiONE: Right-Time Response System platform, as and when required.
• ReadiONE is designed to be a “holistic”, cross-channel, multi-layered solution for transactional security & risk mitigation – that not only takes care of today’s security threats and online frauds, but is also designed to grow so as to prevent emerging online frauds and security threats of tomorrow.

Why is ReadiONE innovative?

ReadiONE is innovative on many counts. It takes a “holistic” multi-layered, cross-channel approach to online transactional security & risk mitigation. Not only does it prevent identity theft, MITM attacks and online financial frauds, it does so across channels – namely internet, mobile, ATM etc. 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 variety of cross-channel 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 Detection: Under the ReadiONE hood is a powerful cross-channel 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 Fraud Analytics: ReadiONE comes with a smart scoring engine that results in more accurate incidents, with minimum false positives. Behaviour parameters too can be configured as required. 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.
• Stronger Authentication for Identity Theft Prevention: For Integrated Identity Theft & Online Financial Fraud Prevention application, ReadiONE comes with a stronger authentication system, allowing second factor and multi-factor user authentication using software techniques. System is easily configurable.
• Transaction Authorization for Emerging Fraud Types: For preventing new emerging fraud types, namely the man-in-the-middle/MITM attacks, ReadiONE supports quickly and easily configurable transaction authorization system. This also supports OTP and OOB techniques.
• 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.

ReadiONE is innovative on many counts. It takes a “holistic” multi-layered, cross-channel approach to online transactional security & risk mitigation. Not only does it prevent identity theft, MITM attacks and online financial frauds, it does so across channels – namely internet, mobile, ATM etc. In addition, it provides Incident Management, Case Management and Dashboards. To be more specific:

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