Fraud Prevention

Fraud Prevention Services

As the number and severity of fraud threats continues to grow and create greater challenges to banks like yours, are you as protected as you need to be? 

The banking environment is increasingly more complex and significantly more dynamic than ever before. The number of channels and products offered grows every year. At the same time, fraud criminals have become ever more sophisticated and better organized. The net result of these changes is those tasked with establishing a fraud prevention program and infrastructure face a very hard set of challenges. Anti-fraud programs are expected to be more effective than ever before while keeping pace with the launch of new products and channel services. Detection failures and project delays can have a real impact on a financial institution’s business performance and customer relationships.


What makes Matrix-IFS stand out from other Fraud Service Providers?

Out-of-the-box Fraud solutions require adaptation to client-specific fraud verticals, IT environment, legacy systems, fraud mitigation operation cycle, and many more variables – including the ever-changing onslaught of fraud threats. Matrix-IFS Fraud Prevention experts understand that building detection platforms is not a ‘one-size-fits-all’ undertaking. Instead, Matrix-IFS’s experts thoroughly analyze your needs and infrastructure to holistically create a Fraud Risk Mitigation Solution specific to your institution. We deliver efficient, cost-effective initiatives on time and on budget leveraging lessons learned from supporting tier one global clientele, Bank of America, Barclays, and Citibank.

Service Offering

Matrix-IFS Fraud Prevention Services offers a broad range of advisor and technology  services  that cover  a wide range  of financial verticals.

Matrix-IFS offers extensive domain expertise, technical and business professionals, each of whom has years of experience in evaluating, implementing, and supporting real-time fraud prevention systems. Our team includes reliable and experienced Subject Matter Experts, Solution Architects, Business and Data Analysts, Solution Implementation Experts, Developers, Quality Assurance Analysts and Project Managers, with backgrounds in the Fraud domain.


Matrix-IFS provides fraud prevention consulting, system development and implementation services in the following Fraud Prevention areas:

  • Real-time Fraud Prevention
  • Detection platform gap analysis
  • Cross-Channel platform architecture
  • Vendor evaluation
  • Models tuning
  • RBA consulting (Risk Based Auth.)
  • OOBA integration (Out of Band Auth.)
  • Devices identification integration
  • Rule mining and development
  • Rules conversion between systems
  • EMV integration
  • ETL design / implementation
  • Data mapping and validation
  • Data enrichment
  • Real-time performance and monitoring mentaRequirements design
  • Functional definition
  • Architecture design
  • Workflow design alert views design
  • Fraud detection reports development
  • CM (Case Management) enhancements
  • Post production support

Cross-channel Fraud Protection

Consumers are utilizing multiple channels across a system when making transactions.  Today a transaction may start at one channel be researched in another and finally closed in the third.


Fraudsters will migrate between channels to target the weakest link, but in the challenges also lay the opportunities, multiple channels allow for improved user profiling and increases the number of points along the transactional chain at which we may flag suspicious behavior.


Matrix-IFS works with its clients to create a complete cross channel fraud infrastructure that is as easy to manage as it is effective. We work with clients across a wide range of fraud problems including online, mobile, wire, ACH, check, employee, card, deposit and first part.


  • Cross channel platform architecture
  • Build cross-channel, user-centric Fraud Prevention capabilities
  • Utilizing all available data sources to create a complete picture of each unique individual and their normal habits in order to detect outliers.
  • Utilizing cross channel information in order to reduce customer friction
  • Present provided fraud protection as value added functionality to the customer

Success Stories

Tier-1 Global Bank – Case Management Design & Customization

Project Overview 

  • Matrix-IFS is engaged with the customer globally, across multiple regions, as a ‘managed services’ provider for the Fraud and Trade Surveillance practices.
  • The client needed a unified case management solution for handling transactions marked as fraudulent by an assortment of different systems. Matrix-IFS recommended modifying an existing case management system available to the client in order to provide the needed functionality.  Utilizing an existing system eliminated the need to purchase an external system providing the client an extremely cost-effective solution.

Matrix-IFS worked with the relevant stakeholders to define the requirements, create detailed functional specifications and implement the solution supporting it through the full development cycle.

Global Payment Processor – Fraud Model Optimization & Tuning

Project Overview 

  • The bank was experiencing high fraud losses on their debit solutions, Matrix-IFS was brought in to evaluate and create a roadmap to close the gaps in its fraud monitoring solution. After a two week assessment and the development of an execution plan, Matrix-IFS began working to implement the plan as detailed in the assessment.
  • The fraud prevention solution implemented plan detailed three stages designed to maximize and front-load returns from the solution. Initially, all debit transactions were input into the solution to allow for basic rule coverage on all debit transactions.  This process closed significant holes in the client’s transactional coverage and allowed for immediate and significant reduction in fraud losses.  The second phase added user profiles and score calibration and tuning, and four additional feeds which increased coverage and lowered false positive ratios.
  • Currently, we are reviewing possibilities in adding additional channels to consolidate the card approval process under the same fraud monitoring engine as well as creating a two-way feedback loop between the fraud solution and internal customer support interface in order to automate the handling of alerts and calling customers.

Customer Value

  • Matrix-IFS experience in the compliance domain as well as the in-house knowledge on the standards being followed by the firms, assists our clients to get the most value.
  • The vendor agnostic approach allowed us to provide the solution which best addressed the clients requirements in a cost-effective manner.
  • A global footprint provides our customers a full 24*7 production services support across all the regions (US, EMEA, APAC).

Customer Value

  • Stage deployment structure allowed the client to realize returns on investment within the same calendar year, assuring stakeholders of the roadmap’s design
  • Matrix provided guidance to meet hardware requirements of a real time system and assisted in coordinating procurement and setup.
  • Expertise in score calibration and tuning has helped the team capture fraud not being covered by their internally data mined rules increasing the fraud solutions coverage and lowering false positive ratios.
  • Extensive experience in creating user profiles developed based on multichannel data assisted the client in significantly increasing their fraud.