Why iPrevent™ is Unique
| What You See is
Never the Real Problem There are several critical characteristics of fraud, such as continuous behavior changes, exponential growth rates, unpredictability, advanced fraud techniques, etc., that when addressed by the proper technology, can be successfully curtailed. However, the present generation of fraud solutions are based on methods that do not efficiently respond to these characteristics and certainly cannot respond to the constant changes in the fraud world. Most fraud cases will become a loss if they are not detected before the crime is committed. Criminals are continuously adapting their techniques as well as conceiving intricate fraud schemes. Without a smart and adaptive fraud prevention solution in place, fraudulent transactions can thrive indefinitely. Current Generation of Fraud Products are Ineffective Detecting and preventing fraud is a dynamic and continuously evolving process. Therefore, current solutions based solely on Neural Networks, statistics, Data Mining or Business Rules are unsuited for preventing fraud because they must be aware of fraud schemes before these prevention efforts can be implemented, even worse they are unable to detect new types of fraud as they occur. These technologies lack adaptation to new types of fraud. Like current anti-virus applications, they are outdated as soon as they are released. Technologies based solely on Business Rules, Neural Networks, Data mining, and/or statistics are clearly inadequate in a world of ever-more clever thieves. Brighterion's Value Proposition iPrevent, Brighterion's fraud prevention product is the result of over 500 man-years of research and development. In contrast to current static anti-fraud products, Brighterion's iPrevent solution is uniquely self-adaptive. The comprehensive intelligence built into iPrevent allows the customer's model to gather intelligence and incrementally learn as transactions occur. Dynamic Self-Adaptation Maintains Continuous Accuracy Brighterion is a pioneer in the development of Smart-Agents technology and is the first company to apply it to a commercial anti-fraud solution. In Smart-Agents technology, by contrast to supervised models where the system needs to be trained with previous fraud schemes, multiple independent agents interact and negotiate with each other in order to detect any new abnormal behavior. iPrevent is uniquely capable of identifying any abnormal behavior and is therefore, the only product on the market with the ability to identify and stop the most elusive and costly first fraud (previously unknown fraud). Brighterion's patented technology suite includes ten artificial intelligence technologies that work in unison to deliver a collaborative result that is significantly more accurate and unparalleled in the industry. iPrevent's Clear Advantages:
The human immune system produces antibodies to protect the body from known and unknown ailments; iPrevent produces “antifraud counter measures” to protect your business from known and unknown fraudulent activities. The analogy between the human immune system and iPrevent illustrates the software's functionality. Human immune systems protect the body from many known ailments by automatically adapting to new and unknown dangers by dispersing millions of white blood cells. Most importantly, it creates antibodies to protect the body with knowledge from previous illnesses. This is the framework on which iPrevent operates. iPrevent is used daily by many financial institutions around the world. |