Birlasoft’s fraud detection solution comprised 21 customizable business rules that laid the foundation to predict and catch fraudulent activity. These business rules were developed after in-depth study of the existing processes to ensure their efficacy. In the case of a potentially fraudulent activity, the solution would pick outliers through various statistical analysis (pattern, ad-hoc, broker profiling) and provide detailed analysis to the governance team for further investigation.
Custom in-built reports were made available for tactical, operational and strategic analysis pertaining to stakeholders across the board. In nutshell, this solution helped this merchant banker reduce revenue leakage and improve its margins.
This solution was recognized by IT Europa and received European IT & Software Excellence Award 2014 for 'Best Vertical Solution of the Year'.