Preventing Fraudulent Transactions



About the Client

The client is a leading financial organization.

Business need

The customer wanted ALTEN Calsoft Labs to do the following:

  • Analyze the transactional data in real time to detect fraud and prevent fraudulent transactions by looking at the customer spending patterns, location based information, life style
  • Stop the transaction for further use
  • Disable the card for further use

Solution delivered

The solution developed by the experts of ALTEN Calsoft Labs,helps in flagging fraudulent transactions with a deep insight into customer’s spending patterns in a heavily regulated banking industry. Also, the solution proposes the possible remedial measures for such an instance. Our Big Data team created the modeling techniques to find the patterns in the spending, and detecting the anomalies in the spending behaviour. Data modeling layer uses Mahout and R to find the patterns, classification techniques to classify the fraudulent transactions from benign transactions.

Business benefits

Analytics platform opens up the doors for understanding the business details in real time,brining out the insights within the massive datasets.

Technology stack

  • Platform: Hadoop
  • File System: Hadoop Distributed File System
  • Paradigm: MapReduce
  • Machine Learning Tools: Mahout
  • Language: R

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