Unisys has released its Active Risk Monitoring System (Arms), a suite of products designed to help financial firms detect and monitor fraud, identity theft and money laundering activity.
The package was developed in partnership with Actimize, a provider of real-time analytics technology. The solutions are designed to detect and track suspicious activity across multiple locations, products and access channels.
The system relates multiple events into potential criminal scenarios and conducts situational analysis in real time - within a fraction of a second of detected activity says the vendor. The rapid implementation of countermeasures also minimises exposure to newly discovered fraud.
In addition, Unisys Arms uses information from a range of sources, has minimal movement or copying of data, and eliminates the need for a central data warehouse.
The new solutions are key components of Unisys' recently formulated 'business blueprinting' solutions for the financial services industry, which includes services for banking and mortgage, life insurance and pension, property and casualty/general insurance, and enterprise payment.
Business blueprinting is constructed to offer a consulting, development and delivery strategy that builds models that link business processes to the software and systems that support them. The idea is to enable clients to visualise how changes would affect not only the IT infrastructure but also the business itself.