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Discover how we have helped solve our clients' challenges across a range of industries

Transform your approach to risk management, financial crime and fraud prevention with Synectics Solutions

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Accelerate your customer
on-boarding process

Implement the fast boarding process that your customers demand without compromising on the range and sophistication of your fraud and financial crime risk analysis.

Align financial crime defence with your business objectives

Reduce siloed working and adapt to changes in both regulation or financial crime risks across your organisation without compromising your ability to get products to market.

Reduce the cost of regulatory compliance

Comply with key regulations such as 5MLD & PSD2 and create effective treatment strategies to improve customer relationships and reduce costs through continually monitoring customers.

Manage risk in real time, cut out costly and unreliable manual processes and streamline your treatment strategies.

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Why Synectics Solutions?

For over 27 years we’ve successfully delivered some of the most effective and innovative fraud & financial crime prevention solutions that are used throughout the world to help our clients’ harness the power of data to protect them and their customers.

Trusted by global institutions & brands

Leading banks, FTSE 100 insurers and government departments choose us to deliver their business critical systems.

A proven track record

Our services have saved over £3.1billion for UK financial service providers and £1.7billion for the UK Government.

Complete peace of mind

Complete peace of mind that all of our systems and processes conform to the highest information security standard: ISO 27001 and are supported by our experts with government security credentials.

Award winning solutions

Our company and innovative solutions have won multiple national and international awards - demonstrating best-in-class delivery.


Trusted, Proven, Effective

Our solutions, systems architecture and collaborative intelligence services operate 24/7 across 15 countries to help clients maximise ROI and reduce risk. Robust, scalable and highly available, our solutions and services are low latency and support your dynamic requirements to deliver proven, effective solutions.

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Saved for our public and private sector clients

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Sub-second responses processed annually at point of quote

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Customer enquiries processed daily

Who we work with

We are trusted by many industry leading organisations across the world to take care of their risk management, financial crime and fraud systems. Some of these include:

Awards we have won

Don't just take our word for it. Our innovative approach to our solutions and services are multi-award winning. Some of our most recent awards include:

Our thinking

Our innovative thinkers are helping to shape the future of what’s possible across all of the markets related to our business.

Addressing current account fraud using predictive analysis

Synectics Solutions have designed, piloted and deployed over 20 predictive models across 11 Tier 1 banks and insurance companies in the UK to help them improve their ability to prevent fraud, as well as substantially reducing the cost of doing so. To help companies without access to sufficiently relevant target data Synectics has also built a standardised predictive analytics fraud Business Need Optimise fraud prevention capability and reduce costs when launching new Current Account product. Solution Deployment of a standardised predictive analysis model in addition to SIRA fraud prevention solution. Benefit Ability to identify almost 70% of fraudulent applications while only investigating around 15% of referrals. Uplift in identification of fraud. Reduced false positives. Estimated savings of over £2 Million per year when product goes onto the market. Customer Challenge Synectics Solutions recently worked with a well-known financial brand to help them deploy a successful fraud prevention solution, despite the client having no relevant product historical data in the geography they were launching in. The client wanted to ensure that when it launched its new Current Account it was optimising its fraud defences by utilising both the National SIRA fraud database, in conjunction with Synectics Precision predictive analytics capabilities. The following case study records the results of the proof of concept in preparation for the clients product launch. Background Predictive analysis has become a widely used tool in financial services in the drive to improve fraud detection, and reduce investigation costs. However, many organisations struggle to deploy a viable predictive analytics programme because of a lack of sufficiently relevant or accurate target data, to build truly effective models. Because of Synectics unique position, as custodian of the National SIRA fraud prevention database, the company used its data science capabilities, and ability to leverage the National SIRA database, to successfully build a standardised product specific predictive fraud prevention model to identify fraud - despite the client’s lack of sufficient in-house data. Building the solution Over 2 million historical current account applications were utilised to train the target model, which included adverse fraud data from National SIRA. Over 25 data features were then used to build the model, including personal applicant details along with additional data features only available from within National SIRA, such as historical adverse flags. Once built Synectics comprehensively tested the model with the client in a proof of concept to prove its effectiveness. Results The Precision Standard Current Account model was able to identify and prioritise fraud investigations to such a high degree that only 10% of referrals prioritised for investigation captured more than 50% of the adverse/fraudulent applications. This represented a huge advantage for the client’s fraud team who would now be able to accurately reduce their investigative workload by a huge margin and still be certain of stopping most of the applications that were not just false positives. Synectics estimates that this level of improved prioritisation and uplift in identification of fraud also achieved represents a likely financial benefit of around £2 Million over the course of the first year of deployment alone for the client. Despite having no historical data footprint for this type of financial product we were able to use the Standardised Precision Current Account model to give us a major boost in identifying actual fraud, as well as improving efficiency and the ability to prioritise our fraud queues when our product goes onto the market” Client Head of Financial Crime “Some clients aren’t able to take advantage of our full enterprise Precision models due to various limitations such as lack of historical data, so it’s great to see our standard Precision models enabling clients like this to deploy otherwise unachievable day one fraud defences.” Rob Bevington – Precision Product & Data Science Manager PRECISION STANDARD – CURRENT ACCOUNT MODEL Chart shows improvement in ability of Precision to prioritise and identify fraud beyond a rule-based only fraud solution as a result of the proof of concept pilot. ROC CURVE FOR PRECISION PERFORMANCE {image} Additional Benefits Not only was the Precision Standard model able to radically reduce the workflow of the client’s investigation team, but due to the additional model features deployed there were fraud’s that would not have been identified in a purely rule-based fraud work flow, leading to additional savings including; Faster customer boarding – as good customers not held up in investigation queues. Reduced workload for busy investigation teams. Reduced False Positive Rates on investigations. More effective identification of fraud than standard rules based solution alone.

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Broker screening article

The financial industry is evolving rapidly – with the advent of Open Banking and advanced Fintech solutions presenting many more sales opportunities to brokers and Independent Financial Advisers (IFA). In addition, we are seeing thousands of new entrants to the enabler communities since the introduction of sweeping reforms to financial and insurance regulations. As well as opportunities, this presents challenges. Many providers are still reliant on paper based or spread sheet systems to screen and validate their network of enablers, to ensure that they are appropriately qualified and compliant. This poses significant organisational challenges when managing the workflow involved inbringing new enablers safely on board. How can the industry make these processes simpler, faster and more efficient? A major provider has trialled and launched an IFA and Broker Boarding Solution which is delivering instant results – saving time and money and reducing risk. Providers need to board new IFAs and brokers quickly and efficiently, with as little friction in the process as possible, and provide them with the best business terms for both parties in order to continue to grow their market share. The Challenges With so many changes in the world of financial services and insurance – from the opening up of opportunities for new providers and brokers through the Open Banking Standard, to the digital transformation we are seeing that is impacting organisations and changes enforced in the GDPR – traditional systems of screening candidates for pensions, life insurance, mortgages and other financial services enabler panels, are being stretched to the limit. Providers need to board new IFAs and brokers quickly and efficiently, with as little friction in the process as possible, and provide them with the best business terms for both parties in order to continue to grow their market share. That’s particularly critical at this time of change, where demand is increasing rapidly and old ways of working are becoming outdated. Many of the screening systems are not designed to cope with the high numbers of new entrants. Outdated systems cause problems Currently there are largely only time consuming and manual screening processes in place for brokers and IFAs, all of which slow down the boarding process. Some are even paper-based, and many require extensive cross referencing of various data sources using spreadsheets. It is a costly way of working. In addition, many of the screening systems are not designed to cope with the high numbers of new entrants – or the growing problem of candidates without the right qualifications to be compliant, or who are not who and what they claim to be. Your internal controls effectively monitor and manage your firm’s compliance with anti-money-laundering (AML) policies and procedures. Compliance and regulatory requirements The Financial Conduct Authority (FCA) states in its report on financial crime1 that: “Firms must satisfy us that they have robust governance, effective risk procedures and adequate internal control mechanisms to manage their financial crime risk. Some firms will also have further obligations placed on them by law.” “By using effective systems and controls, your firm can detect, prevent and deter financial crime.” Senior management should take clear responsibility for managing financial crime risks and be actively engaged in addressing these risks.” Subsequent to that report, the FCA’s paper on money laundering and terrorist fraud2 added: “The Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 require you to apply risk-based customer due diligence measures and take other steps to prevent your services from being used for money laundering or terrorist financing.” “We require all authorised firms subject to the Money Laundering Regulations to meet additional but complementary regulatory obligation to apply policies and procedures to minimise their money laundering risk.” “Your internal controls effectively monitor and manage your firm’s compliance with anti-money-laundering (AML) policies and procedures.” ...apply risk-based customer due diligence measures and take other steps to prevent your services from being used for money laundering or terrorist financing.” On the subject of brokers it states: “Although mortgage brokers, general insurers and general insurance brokers are not subject to our AML rules and the Money Laundering Regulations, they still need systems and controls to prevent financial crime. They are also subject to the Proceeds of Crime Act 2002.”2

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Has app fraud and payee authentication become one of the most pressing challenges in 2020 for fraud teams?

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Our innovative thinkers are helping to shape the future of what's possible across all of the markets related to your business

Find all of our white papers and thought leadership articles by clicking here.

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