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D&B revolutionizes its Payment Fraud Detection System with Knoldus
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About Dun & Bradstreet

Dun and Bradstreet is a global corporation that provides its partner organizations with information on commercial credit, data & analytics reports on businesses. D&B is globally recognized for generating an organization’s business credit reports that help third-party stakeholders to analyze the financial performance and health of the organization

Currently, Dun & Bradstreet generate analytics for about 100 million companies globally. Its proprietary suite of reports is helping organizations leverage analytics to decide whether to allocate business credit to a customer, continue or initiate business with others, or establish their credibility & reputation in the industry.

The Risk Management platform needed an addendum for an efficient payment fraud detection mechanism

Dun & Bradstreet’s risk management platform allowed partner organizations to access deeper intelligence to get a clear picture of the credit history, payment defaults, or potentially fraudulent activities of the organizations they were doing business with. This helped them to mitigate risks by receiving notifications & alerts whenever a business begins to pose a threat in the future.

And for this, the system needs to be efficient and meet the SLAs; alerts & notifications have to be processed fast so that the partner organizations using the platform can modify their business strategies right on time so that they don’t suffer any losses. However, there were significant roadblocks to achieving D&B’s goals because of the challenges that the Risk Management platform was bringing out.

Let’s understand these challenges at a deeper level.

Challenges

For partner organizations relying on the Dun & Bradstreet platform, timing is the most critical factor. If there is a bankruptcy report or a default payment in the credit history of one of the companies that a partner organization is associated with, then they would need to get alerts on that immediately. But what made this difficult was the fact that there were millions of customers, which gave rise to huge volumes of alerts on an hourly basis.

Major challenges that D&B was facing:

Solutions: Succeeding in fraud analytics

Knoldus collaborated with the Dun & Bradstreet engineering team to identify the business needs and document critical non-functional requirements. D&B wanted to make sure that it meets all the requirements of its service-level agreement (SLAs) The solution was laid down with:

A glimpse of D&B’s Risk Management Platform

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Technical Architecture

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Results

Download the detailed version of the case study:

    Building a real-time payment fraud detection system? Knoldus can help.

    Without digital transformation today, there can be no innovation. And Digital transformation means robust software applications that not only meet but also exceed customer expectations.
    In the world of finance where speed is a key factor and uncertainty is the norm, meeting Application SLAs is more important than ever. The applications associated with the industry need to be responsive and provide a high-quality service while integrating efficient risk management. Knoldus’ Payments Risk Management solution offers real-time fraud detection and prevention using machine learning and advanced analytics designed to:
    If you’re building a robust risk-management application, Knoldus experts can help. Our engineers have deep experience in all aspects of reactive and distributed computing, big data, machine learning, and data sciences, and are able to provide your team with critical advisory-level services at key points in your journey. Knoldus solution enables to you deliver the flexible, reliable, scalable and performance demanded in today’s challenging, dynamic environments.
    Drop us a line at hello@knoldus.com or contact us here. and let’s discuss how Knoldus can help as your trusted IT partner.

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