The real-time system against fraud
The new system, developed by SAS Fraud Management and HSBC, which is used in the U.S. (and soon in the UK and Asia) is used to verify credit card fraud in real time.
The mechanism is based on the platform of SAS Enterprise Business Intelligence by analyzing and comparing the usual behavior of the customer, the currency in real time and automatically, transactions through credit cards / debit decide whether, by virtue of consistency and appropriateness of asking the user profile and, only in suspected cases, to authenticate the transaction considered risky by the system.
In this way HSBC has significantly reduced the economic losses caused by fraud and gave customers greater security transactions, thanks to the excellent cross-savings achieved in different sectors. You might think of spreading among financial institutions, as required by law, including sharing of this type of information that help to prevent fraud and to increase information exchange, developing new applications.