Sifting Out Possible Fraud

HNC Software Inc. is offering a fraud detection solution that uses software that looks for the possibility a crime may have occurred by comparing information it sifts out during everyday processing and comparing what it finds to customers' normal account usage.

The system uses powerful neural network-based profiling software to evaluate each savings account, automated teller machine, automated clearing house and online banking transaction. It compares those transactions against normal usage and delivers a report prioritized by potential dollars saved. It can be used both for off-line batch processing and real-time processing paths.

Copyright © 1998 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 8, No. 10, 9/98