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AFMS Information Sheet available
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Adastra’s Fraud Management System (AFMS) is a comprehensive modular solution developed by Adastra for fraud detection and case management; frequently used by insurance, banking, and telecommunications organizations.
Its universal scoring engine makes AFMS highly effective in other fields such as anti-money laundering (AML). AFMS continues to expose hundreds of fraud cases per year, and prevents countless others. The current second generation solution includes increased flexibility, faster automation, as well as optimized intuitive software for fraud case management.
An AFMS implementation sources, integrates, and populates data into the AFMS data mart. Data cleansing may be required to ensure optimal results. A user-friendly interface allows scoring rules to be configured and fine-tuned without coding. The strategy for storing data, on-line or offline is defined in order to ensure the timely provisioning of data to both automated systems and frontline staff.
Leverage your historical data to create new and maintain the effectiveness of existing scoring rules by comparing the scoring outcome with congruent data where the incidence of fraud is known. Highly suspicious claims (those with high scores) should match the fraudulent claims; conversely the least suspicious claims (those with low scores) should not be fraudulent. Deviations are investigated by applying analytics to the historical data set. Statistical methods, applied by analytical tools, analyse historical data in order to derive intelligence that can be used to enhance scoring rules. This will reveal which variables are important, and therefore be included into revised scoring rules.
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