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Cyber Security with Confidence
Chances are you have arrived here because as your organisation has become more digitised and interconnected at an operational level, the associated risks to your business have become greater. You’re aware of the threat to your organisation’s resilience, and you also need to comply.
You need a partner. First Derivative’s team of cybersecurity experts has unparalleled banking domain expertise coupled with product knowledge. Click below to find out more about our cyber domain offerings, our case study examples, our team and our collaborations.
First Derivative is a collaborative partner of Queen’s University’s Centre for Secure Information Technologies (CSIT). An insurance industry case study highlights the work being delivered by that institution in partnership with private sector: Studies estimate that fraud costs the insurance industry $25 billion per year and that 10 per cent of all insurance losses are believed to be fraudulent. When applying these estimates to a client’s business, there is a potential $800 million in savings to be made by reducing fraud. Given the magnitude of the figures, even a small reduction in fraud can have a big impact on the company’s financial results.
The aim of the Partnership was to develop an integrated anomaly detection system to identify fraudulent claims and point of sale fraud. The partnership focused on developing a structural similarity-based matching system to identify fraudulent individuals who re-enter the system with a new identity. The client uses graph databases for insurance data management and data analytics. These graph databases provide input data to the matching system.
Consider integrating First Derivative Cyber Services and elevate your business operations to new heights.
