In order to help businesses and government agencies effectively detect and remediate fraud, the American consulting firm, Accenture has launched seven advanced analytics applications.
“The applications will provide a tailored analytics insights via visualizations to enable businesses and government agencies take more confident, data-driven decisions on strategies to address fraudulent activity,” Accenture said in a statement.
According to Accenture, with the help of these applications bank can analyse data coming from internal and external sources, monitors credits such as loans and mortgages to identify the potential non-payers, and provides an early warning on potentially risky customer credit activity.
Similarly government agencies can optimises the end-to-end audit processes with advanced analytics tools that detect more fraudulent and non-compliant refund claims, improve auditor case selection efficiency and maximise savings, claimed the company.
Telcos can also use it to detect the likelihood of fraudulent behavior – such as an individual posing as a legitimate customer who receives a service but won’t pay for it – by analysing internal company and external data to determine the risk factors and level associated with each service user and alerts audit managers of risky behavior.
Manufacturers can estimates the probability of suspicious activity that involve warranties, either individual claimants or authorised agents. The application provides insight into warranty issues and offers prioritised actions that could help to solve them, said Accenture.
The new application will be available via Accenture Insights Platform, a cloud-based end-to-end analytics solution. In addition, organisations can use them on their own-premise.