IBM Process Excellence (PEX) For Payment Fraud Prevention
Stay one step ahead of fraudsters with process insights
Process Excellence (PEX) for Payment Fraud Prevention for Banks provides process insights to help identify where processes may be falling short and allowing fraudulent activities to occur. It helps streamline the overall fraud prevention process by identifying bottlenecks, inefficiencies, and non-compliant process deviations. Teams can continuously enhance the process and apply automation to drastically reduce the risk of fraud and improve customer satisfaction
This is where IBM and Celonis Combine their Strengths:
Reduce Overall Turn Around Time (TAT).
Increase customer satisfaction by releasing genuine payments as early as possible.
Cancel fraudulent payments immediately without wait time.
Simplify the investigation process.
Features & Capabilities
The Overview dashboard uses the Process Excellence framework to provide Efficiency, Compliance, and Customer Experience goals and status in a quick, easy-to-read view. The current values of the KPIs are shown alongside the targeted values - enabling the Head of Fraud Operations to make decisions, look deeper into problem areas that may be impacting critical KPIs, and direct the team on corrective actions.
The Trends view shows the progression of KPIs over time and helps to quickly identify performance deviations and cyclicity of KPIs. It can reveal clues where root cause investigation may be needed.
The Efficiency Drill Down facilitates the identification of efficiency bottlenecks that may lead to delays in fraud investigations and payment releases across various modes of transactions, countries, and customer types
The Compliance Drill Down facilitates the identification of patterns, amounts, and causes of fraud losses. Additionally, it allows for the detection of missed checks, as well as the identification of individuals responsible for such oversights. This helps determine the appropriate corrective actions.
The Experience Drill Down helps in fraud prevention but also enhances the customer experience by identifying trends in customer complaints and reducing the need for follow-up calls. This leads to a better overall experience for customers.
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