Financial Software and Systems (FSS), a Chennai-based payments and fintech company, has launched FSS Sentinel, a real-time, preventive fraud-risk-monitoring and management solution, for financial institutions to minimise fraud exposure. The big-data solution automates risk-assessment, enabling banks to see a full picture of their risk profile and take calibrated actions to secure transaction experience. It deploys machine-learning modelling technology to analyse fraud signals, identify fraud types and make better-informed transaction-authorisation decisions, the firm said.
It continually learns customers’ transaction behaviour such as maximum transaction amount, and generates automatic alerts on detecting anomalous usage patterns, according to a press release.
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