Identifying fraudulent transactions in e-banking

Rake enables banks to automatically or manually prevent oline banking fraud, which reduces costs, protects customers and the bank’s reputation.

Rake monitors online banking transactions automatically through advanced techniques of clustering and classification processes that are specific to Data Mining, which is the process of extracting hidden patterns from data. Rake defines the behavioural profile of each individual e-banking user in combination with IP geo-localisation systems and transaction history, in order to detect , report and prevent suspect transactions.

Existing antifraud tools can be effective in identifying known fraudulent behaviour patterns, , but are useless against new methods that emerge constantly. Rake is currently the only truly effective software, because it works in background to spot irregular behaviour. This is essential in online banking where the bank has no control over their clients’ PCs, which may be infected with worms that are hidden from the bank’s defense mechanisms.

The software can be configured to prevent risky transactions in real time or to alert operators of suspect actions so that manual preventive measures can be taken.

Rake is also highly reliable and flexible, allowing it to be integrated effectively with any online banking software.