Orchestration platforms are a hot topic in fraud, authentication, and AML, and for good reason. They enable a firm to connect to one vendor, then access multiple point solutions for detection or authentication. Hub solutions can also integrate and orchestrate the detection inputs and subsequent stepped-up authentication via a sophisticated risk engine to help financial services firms optimize friction and cost. This risk engine is a key element of the equation when it comes to both detection and the customer experience. With a blunt tool (i.e.,rules and no analytics), false positives and false negatives abound, impeding a positive customer experience and firms’ efforts to optimize operational expense.
This session will discuss the journey to turn concept into reality, address the benefits of orchestration and the importance of advanced analytics, and share challenges and lessons learned. Key discussion points will include:
•A definition of the concept
•Success stories from firms that have employed these platforms