Continuous Fraud Monitoring (CFM) solutions, effective detection methods and proven ROI. Propello are the Fraud Management specialists.
Fraud is the problem
Fraud is a critical and growing issue for companies. The typical organization
loses an estimated 5% of annual revenue to its own employees -- a global total of $3.5 trillion.
Source: Association of Certified Fraud Examiners
Detecting potential fraud earlier reduces losses and protects future revenue.
With business data growing up to 120% a year, new tools are necessary to
understand, identify and prevent fraudulent activity before it occurs.
Source: KnowIT
Propello is the solution
Propello's Continuous Fraud Monitoring (CFM) solution enables your organization to detect fraudulent activity and identify suspicious trends to reduce losses and improve compliance.
CFM uses next generation relational database tools. with industry specific fraud detection rules to automate monitoring and protect against fraudulent activity.
Industries that use Propello
Propello's CFM is effective in a number of different industries including some of the ones below:
Insurance
CFM enables insurers to detect fraudulent claims and accelerate processing of legitimate claims, reducing losses and improving customer satisfaction.
Banking and Finance
CFM enables Banks & Financial Institutions to conduct continuous monitoring and control of many aspects of financial compliance in a flexible solution to achieve control over fraud.
Retail
CFM allows retailers to monitor transactions and cash balances across sites to detect suspicious trends, monitor staff and supplier records and identify fraud.
Utilities
CFM allows Utilities to monitor and identify unusual billing or usage behaviour to quickly identify fraudulent transactions.
Telecommunications
CFM provides Telcos with tight monitoring and control over business processes and financials systems to expose and prevent fraud from taking place.
Government
Enables local and central Government entities to detect fraudulent behaviour internally and externally across programs, suppliers as well as check compliance against policies and procedures.
Why choose Propello?
Propello's 3 stage CFM approach sets it apart from other detection systems.
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Phase 1: Analysis
Clients transactional data is extracted and examined for patterns of fraudulent activity using industry specific tests.
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Phase 2: Monitoring
Continuous Fraud Monitoring (CFM) is implemented to detect, alert and prevent fraudulent activity as it occurs.
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Phase 3: Future Security
To maintain protection the CFM platform is updated to the most up to date rules and logic to enable detection of new fraudulent methods and techniques.
Proven ROI
Propello recently completed a study for a large insurer using its historical claims transactions over the last 5 years, to profile for fraudulent claims that had been paid. We identified savings of at least $5m per annum had continuous fraud monitoring been implemented at this insurer.
Contact us
To find out more about how Propello can enhance your business, please don’t hesitate to contact us.
Articles & Downloads
The Impact of Anti-Fraud Controls
Infographic
Copyright 2014 by the Association of Certified Fraud Examiners, Inc.
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Profile of a Fraudster
Infographic
Copyright 2014 by the Association of Certified Fraud Examiners, Inc.
DOWNLOAD PDF
The Cost of Fraud
Infographic
Copyright 2014 by the Association of Certified Fraud Examiners, Inc.
DOWNLOAD PDF