What is UmbrellaFraud?
UmbrellaFraud is a mainframe-based fraud detection system designed for banking applications running on z/OS. It leverages the Hogan application infrastructure to monitor transactions and identify potentially fraudulent activities in real-time.
How does UmbrellaFraud work?
UmbrellaFraud integrates with existing banking systems through APIs and data feeds. It analyzes transaction data, customer data, and other relevant information to detect patterns indicative of fraud. When suspicious activity is detected, alerts are generated and sent to fraud analysts for further investigation.
What types of fraud can UmbrellaFraud detect?
UmbrellaFraud supports real-time fraud detection, rule-based fraud detection, and anomaly detection. It can identify various types of fraud, including credit card fraud, wire transfer fraud, and account takeover fraud.
What techniques does UmbrellaFraud use for fraud detection?
UmbrellaFraud uses a combination of techniques, including statistical analysis, machine learning, and rule-based logic, to identify fraudulent activity. It continuously learns from new data to improve its accuracy and effectiveness.