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Overview of the Striim Platform and Highlights of v3.8 - Solutions
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Subject to many strict government regulations and fighting serious financial crimes, the financial services industry has tapped into both real-time data integration and streaming analytics to reinvent their business operations and deliver better customer experience profitably. Striim enables banking and insurance companies to use up-to-date data across the business and automate smart decisions by discovering critical insights hidden in their high-velocity data while they are still actionable. With Striim, you can outsmart risks, ensure regulatory compliance including GDPR, and seize unique opportunities to improve customer experience, all fueling profitable revenue growth.
Striim offers an end-to-end solution for real-time data integration, comprehensive streaming analytics, and data visualization to accurately discover time-sensitive insights, enable automated response, and monitor critical metrics in real time. As a single software platform, it enables you to modernize your data infrastructure with a streaming data architecture and supports key IT initiatives including the adoption of artificial intelligence, and internet of things (IoT) technologies. For example, Striim applies your machine learning models to real-time operational events and enables automated, smart action on a continuous basis. With a complete and enterprise-scale platform, it meets the strict security, reliability, and scalability requirements of financial services companies.
The leading retail bank in Europe uses Striim to detect and prevent ATM fraud and money laundering. The Striim platform analyzes ATM transaction data to monitor and alert “impossible distance” fraud by detecting transactions on multiple ATM devices within a short span of time. It also identifies potential money laundering cases by detecting when there is a maximum ATM withdrawal from one account and transfer the fund to another account, followed by maximum withdrawal from the latter account.
Significantly reduced losses caused by ATM fraud via immediate detection and action, and improved compliance with anti-money laundering laws while minimizing risk exposure
Achieved real-time visibility into the ATM activities across the country enhancing customer behavior analytics and targeted marketing campaigns
Easily sets up and modifies applications with multiple pre-defined criteria that indicate various fraudulent behaviors and money laundering activities
Striim supports bankers and insurers with a variety of use cases including:
