Reducing False Positives In Fraud To 10%

DataWalk is anti-fraud software for detecting and investigating potential frauds. DataWalk includes a powerful scoring engine which can be used for flagging suspicious claims, transactions, people, or anything else. As shown in Figure 2, DataWalk enables you to continuously improve your effectiveness in detecting fraud, ultimately enabling extremely high levels of accuracy and efficiency.

When designing the DataWalk system, we approached the issue of scoring from a different angle, knowing there are two keys to deliver superior performance in detecting suspicious conditions:

Fast results

With DataWalk we typically can install our software with the click of the button, import and connect your key data sets, rapidly customize and create rules and scores, and start getting first results in hours. Typically by day 7 you can already be discovering new patterns and fraud reduction opportunities. 

You can then further improve performance by expanding your coverage using additional data sets, incorporating Machine Learning and DataWalk’s capabilities for Social Network Analysis (i.e., clustering) into your scores. 

Do it yourself

DataWalk was designed to be self-service anti-fraud software. We provide a unique, flexible, powerful scoring engine that enables you to easily generate, monitor and continuously tune rules and scores yourself. You can easily test new hypotheses, add and test new data sources (e.g. OSINT – social media), generate new rules, change existing rules and weights, and deploy and manage machine learning models and other AI technologies. You can do all this yourself, very quickly with minimal effort and without professional services. 

With this approach, you can continually improve your effectiveness in detecting more suspicious conditions, and dramatically reducing false positives in fraud. As summarized in Figure 2, other solutions start with mediocre performance that you can maintain only with regular incremental spending, while with DataWalk you can constantly improve your effectiveness as you continue to learn and adapt. DataWalk customers have used this approach of constant improvement to reduce false positive rates to 10% or less.