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by Robert Zachs

The technology and rationale behind Nemesis

Decades of experience fighting fraud across multiple domains, have led Aviana to conceive and develop Nemesis, a sophisticated framework based on the principles introduced here. Nemesis provides flexible data layers to process your transactional data, regardless of the specific vertical or transaction type your business deals with. After the data is injected into Nemesis, the system can identify and score groups of related transactions based on any number of user-defined “links”, and it supports a sophisticated cluster scoring process. Nemesis can leverage transactions-level scores produced by an existing fraud detection system, or support customized machine learning models that Aviana can develop for your business. Thus with Nemesis, we combined traditional transaction scoring with the power of contextual and link analysis.

One of the benefits of Nemesis is its ability to present information about suspicious clusters in a clear and actionable framework. Each cluster of suspicious transactions is clearly presented to the user with English-language descriptions of what has been determined to be suspicious for that cluster. The Nemesis interface provides drill-down capabilities to access transaction-level data, as well as group-level metrics. This allows the fraud analyst to quickly determine whether the pattern is deemed fraudulent and take action. Nemesis also provides multiple report levels designed to provide the right level of insight to fraud analysts, supervisors, and upper management. Nemesis includes a case management and workflow system, or it can be configured to work an existing one.

An important feature of Nemesis is its ability to improve over time using Machine Learning. By using feedback from case disposition, captured from either the internal or external case management system, Nemesis can learn which types of suspicious transaction clusters were confirmed fraudulent and which ones were not, adapting its parameters over time to improve its scoring criteria automatically.

Nemesis implements the principles which have guided Aviana’s approach to effective fraud detection across multiple verticals. While the advanced analytics embedded in Nemesis, which are based on decades of years of experience in pattern analysis applied to fraud detection, provide an effective detection engine, the user interface makes the insights and suspicious patterns immediately actionable. With Nemesis, your business will no longer be exposed to the ever-present risk of losses due to fraud schemes but prepared to timely discover new threats before they can become a problem.