Guardian Analytics is well-known for using behavioral analytics to prevent banking fraud. But how does modeling account holder behavior lead to achieving your higher-level business objectives?

That’s what I’ll discuss in my session, “Using Behavioral Analytics to Stop Fraud and Achieve Strategic Goals,” from noon – 1 p.m. on Tuesday, Sept. 16, at the Digital Insight Innovation Conference.

GA_logo_colorWe’ve pioneered the use of behavioral analytics to detect unusual or suspicious activity that could suggest that cybercriminals have compromised one of your customers’ online or mobile banking accounts. We’ve extended the technology to also detect fraudulent ACH and wire payments. We do this by individually modeling the normal behavior of each account holder and then detecting anomalies in any new activity — anything that doesn’t fit the normal activity previously demonstrated by that account holder. This approach has proven to be very effective at stopping fraud. 

But what we’ve learned after speaking with our 300-plus customers (including nearly 100 Digital Insight customers) is that the benefits extend far beyond just stopping fraud. 

If you have confidence that you can mitigate the fraud risks associated with mobile banking, for example, would you be more willing to expand your mobile banking services in order to increase revenue? 

If you’re able to distinguish fraudulent wires from legitimate ones while still meeting SLA commitments, might you consider offering expedited wire services that create a competitive advantage? 

What other services are you not offering because of the risks they introduce? 

I hope you’ll attend my conference session to hear more about how behavioral analytics can stop fraud and help you achieve your strategic goals.