|[December 04, 2012]
New Lavastorm Analytics Fraud Manager Accelerates Fraud Detection and Mitigation for Communications Service Providers
BOSTON & ORLANDO, Fla. --(Business Wire)--
Analytics, a leading global analytics software company, is making it
dramatically easier for communications service providers (CSPs) and
individual business analysts to implement an automatic, real-time, and
integrated fraud risk mitigation solution with its new Lavastorm
Fraud Manager system. Lavastorm Fraud Manager, with its new Fraud
Management Essentials collection of pre-configured fraud controls and
structures, allows CSPs to deploy a fraud management solution with data
collection, data analytics, detection, and management capabilities 75
percent faster and at lower cost than traditional fraud management
Most fraud management systems are delivered as a "blank slate",
requiring that fraud
control analytics be built from scratch, or in some cases operate
like black boxes and require significant assistance from the
manufacturer if modifications are needed. Lavastorm Fraud Manager solves
these two challenges with its new Fraud Management Essentials feature
and by leveraging the open architecture of the award-winning Lavastorm
Fraud Management Essentials is a collection of more than 90
preconfigured fraud rules and alarms, as well as a comprehensive set of
pre-defined aggregates, workflows, hotlists, user structures, case
management structures, call detail record (CDR) fields, customer
details, and profiles that allow a fully-functioning fraud management
system to be deployed in a matter of weeks. Fraud Management Essentials'
preconfigured controls and analytics were developed from fraud
management best practices and Lavastorm's years of experience helping
dozens of CSPs like Kabel
Deutschland and KPN (News - Alert) reduce fraud-based risks, and, in some cases,
accelerate the detection of fraudulent activity by more than 2000
After an initialdeployment using Fraud Manager Essentials, the
Lavastorm Analytics Platform underpinnings of the system allow CSPs to
easily continue configuring the system with new fraud controls to meet
their unique business needs, and adapt quickly to new fraud types. The
Lavastorm Analytics Platform can also be added to CSPs' existing fraud
management solutions (FMS) to provide an exploration and data discovery
environment that simplifies investigation of new fraud types and
automates analytics performed outside the FMS.
"Fraudsters are highly adaptable and elusive and it's entirely
ineffective to control fraud with a black box FMS based on static
rules," said Drew Rockwell, CEO, Lavastorm Analytics. "Lavastorm Fraud
Manager is designed to give fraud managers and analysts comprehensive
coverage in a matter of weeks, along with the benefits of retaining
complete analytic control over their system to dynamically create new
fraud types, continuously monitor activity, and easily adapt to changes
in business models and data types. Anyone trying to fight fraud without
an open, agile system like Lavastorm Fraud Manager should worry about
whether their platform is fit for purpose in one of the fastest changing
industries in the world."
With its Fraud Management Essentials and Lavastorm Analytics Platform
core, Lavastorm Fraud Manager is a comprehensive fraud management system
that allows CSPs to analyze diverse data, investigate hypotheses to
discover new patterns and root causes, identify fraudulent activity in
real time, and manage workflows to eliminate threats. In addition to
reducing deployment time and cost, Lavastorm Fraud Manager empowers CSPs
to realize many important benefits that impact their own and their
customers' security, including:
Improved reaction time with features like near-real-time monitoring
and alarming and hourly call trend analysis.
Improved fraud detection hit rate and success through customizable
early warning rules, and fuzzy matching criteria and special profiles
for new subscribers to automatically analyze intricate fraud patterns
to uncover and mitigate new and obscure fraud threats.
Greater investigative powers for analysts with comprehensive views of
all relevant data and dynamic query capabilities available from within
the case management tools.
Protection of customers against misuse of their hardware, identity,
contractual, and traffic information, such as in the case of theft,
loss, or account cloning.
Tailored fraud-mitigation analytics for the unique needs of mobile and
wireline operators and for consumers and business customers.
Automation of many key fraud monitoring analytic controls to help
organizations comply with Sarbanes-Oxley (SOX) regulations.
To learn more about how the Lavastorm Fraud Manager can deliver more
value faster than traditional fraud management solutions, speed
time-to-action, and improve the accuracy of fraud detection, visit http://www.lavastorm.com/products/lavastorm-fraud-manager.
For information on organizations using our fraud solutions, visit http://www.lavastorm.com/knowledge-base/customer-stories.
Individual fraud analysts looking to enhance their daily analytic
capabilities can download the completely free Lavastorm Desktop Public
version of the award-winning Lavastorm Analytics Platform at http://www.lavastorm.com/desktop-public-request.
Tags: Fraud, fraud management, analytics, data analytics,
business intelligence, self service analytics, telecommunications,
Lavastorm, free analytic tools, Kabel Deutschland, KPN, fraud analytics
About Lavastorm Analytics
Lavastorm Analytics is a global analytics software company that enables
a new, agile way to analyze, optimize, and control data and business
processes. The company's products provide analysts with programming
powers previously limited to IT to rapidly unify disparate data, easily
construct complex analytics, and effectively deliver actionable insight
and results. Analytics built in Lavastorm can easily be deployed as
persistent solutions and applications, providing continuous analytic
monitoring across multiple systems and complex, data-intensive
processes. Lavastorm's solutions have identified business improvements
worth billions of dollars for some of the largest corporations in the
world. For more information, please visit: www.lavastorm.com.
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