Oracle Financial Services Upgrades Mantas Fraud
Oracle Financial Services Software has announced the availability of a new release of Oracle Mantas Fraud. The upgrade provides new features aimed at better preparing institutions to meet the challenges posed by the technological advancement and globalisation of fraud activity, as well as a more stringent regulatory environment.
Mantas Fraud delivers an integrated view across accounts, customers and business lines to facilitate earlier detection of fraud schemes and financial crime rings, and enhance loss prevention and mitigation efforts. The new features include:
“Financial crime costs financial institutions billions of dollars each year, and the fraud schemes only get smarter and more pervasive. In today’s environment, point solutions focused on specific channels or types of fraud fall short in meeting financial institutions’ fraud detection needs,” said S. Ramakrishnan, chief executive of Reveleus and Mantas products, Oracle Financial Services Software. “The new release of Oracle Mantas Fraud provides an integrated fraud management platform that combines robust real-time detection and correlation capabilities with sophisticated behaviour detection, analytics and case management for powerful fraud protection across the enterprise.”