Accenture offers fraud detection apps for select verticals


Accenture announced seven new advanced analytics applications to help organisations to detect or control the impact of fraudulent activity.

These applications are specifically designed for banks, telecommunications companies, government agencies and manufacturers.

“As fraudulent behavior can come in many different forms and morph quickly to stay under the radar, organizations across industries are seeking solutions that can help them to quickly identify and reduce this activity to decrease losses,” said Kieran Towey, managing director,Accenture Analytics.

“Recognizing the need for speed, Accenture’s new analytics applications can be ready for use in as little as a few weeks, informing more effective actions that can eliminate risky activities straightaway. The faster we can help our clients to find fraudulent and abusive activity, the faster the steps can be taken to end it.”

For banks, these applications will give early warnings of any unauthorized activity. Further, they – strengthens in-house surveillance and risk detection capabilities by leveraging big data technologies, advanced analytics and text mining algorithms on data

For government agencies, analytics applications optimize audit processes and improve auditor case selection efficiency and maximize savings.

Moreover, these applications help to accelerate value-added tax fraud detection by providing audit managers insight on the operations and key performance indicators of their analytics tools.

For telecommunications companies, these applications will be helpful to detect the likelihood of fraudulent behaviour from customers who receives services but hesitate to pay for it.

For manufacturers, applications provide insight into warranty issues and offers prioritized actions that could help to solve them.

The new applications were developed in the Accenture Analytics Innovation Center in Dublin, Ireland.