Advanced real-time data orchestration capabilities enable flexible decisioning workflows for organizations to advance their detection capabilities for new use cases, including RTP, while reducing the cost of data and improving the customer experience
Due in part to the long-awaited release of the Federal Reserve’s FedNow network, 2023 will be a big year for the adoption of real-time payments and products among financial institutions. Reiterating its commitment to developing the most advanced fraud and risk management solutions, DataVisor made significant enhancements to its already industry-leading real-time fraud prevention capabilities.
“DataVisor’s Decision Flow eliminates these limitations, enabling risk management teams to tailor and automate decisioning workflows to different types of traffic for swift and effective detection while accelerating the approval of transactions for good customers.”
Built with the most cutting-edge cloud technology, DataVisor’s Decision Flow is designed and optimized to scale to support the largest enterprises in the world with high queries per second (QPS) and low latency. At a peak traffic rate of over 15,000 QPS, Decision Flow boasts a hyper-low end-to-end detection latency of under 100ms while supporting sophisticated velocity features, rules, and machine learning model computation. Decision Flow empowers organizations to make informed real-time fraud decisions with high confidence, especially for new use cases like real-time payment fraud.
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Modern financial institutions experience significantly increased user traffic in a digitalized world. Each user activity and transaction may be associated with a different risk profile and must be assessed and treated accordingly to maximize the user experience while minimizing fraud, a challenge that is compounded by the real-time low latency requirements prevalent today. To meet unyielding customer expectations of immediacy, financial firms must monitor massive amounts of data and make sound decisions in fractions of a second, and the stakes are high: Mistakes in real-time transactions are costly and irreversible.
“I see a modern fraud workflow like a massive assembly line with thousands of moving parts. Important real-time routing decisions are required for each component to be at the right spot perfectly in time to produce valuable outputs. Like the central intelligence node in the world’s largest assembly line, Decision Flow enables fraud teams to harmonize the processing of customer events and filter them for fraud with a nuanced, risk-based approach. All this in real time, at any scale, and without latency.” said Fang Yu, Co-founder and CPO of DataVisor.
“Prior to using our Decision Flow, firms were often disappointed by rigid legacy workflows that treated all users and transactions the same. This does not stop sophisticated fraud and adds unnecessary friction for low-risk customers.” continues Yu. “DataVisor’s Decision Flow eliminates these limitations, enabling risk management teams to tailor and automate decisioning workflows to different types of traffic for swift and effective detection while accelerating the approval of transactions for good customers.”
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With Decision Flow, organizations can build, visualize, and implement fraud decisioning strategies using a drag-and-drop interface in a flexible manner and realize the following benefits:
- Reduce fraud losses. Decision Flow enables fraud teams to combine different fraud technologies including rules, machine learning, and step-up authentication in various sequences for better detection performance.
- Maximize revenue and reduce churn. Stringently evaluate high-risk transactions to stop fraud, yet allow low-risk ones to flow with reduced friction for much smoother experiences for good users.
- Reduce customer acquisition costs. With Decision Flow, firms can route only a subset of suspicious traffic to check against various third-party risk signals, reducing the total costs spent on fraud tasks and data providers.
With its comprehensive fraud and risk management platform, DataVisor helps leading global organizations approve more transactions while capturing more fraud and reducing fraud losses.
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