We advise our clients on the emerging set of FRM rules and global regulatory compliance practices, determine their impact on operating models to accept and process payments; and recommend a technology road map to increase acceptance while reducing risks.
Fraud & Risk Management
The choice, convenience, and inclusion in the payments industry today, is phenomenal. While traditional card payments still lead the pack, consumer payments patterns are shifting towards instant payments through a mobile tap, QR codes, Biometric Payments or ‘Pin on Glass’, etc. At the same time, banks still have conventional payments products like Wire transfer, Check payments, Bill payments, and Electronic Toll collection. The transaction risk for all these channels cannot be monitored in silos. False positives and declines are still far too high by industry standards resulting in a credibility gap.
With an exponential increase in payments methods, we understand that industry players must converge risk monitoring and fraud management, for all digital channels, under one holistic and comprehensive platform.
How we empower our customers
RS Software helps our clients to:
Make the right decisions
Harness data for business gains
We help build or enhance enterprise data lakes with the required infrastructure to support data localization and compliance with data sovereignty rules. Export Transfer and Load (ETL) ecosystem data to train artificial intelligence (AI) and machine learning (ML) models on relevant features.
Use data intelligently
We develop predictive fraud models based on a consortium of client fraud data to provide a shared model for fraud detection and higher economic value than a singular approach.
Keep payments safe
We configure and implement an enterprise-class fraud and risk management platform leveraging AI and ML that can support multiple payment products (cards, checks, ACH, RTP, etc.) on a single platform and ensure high availability with 24×7 support.
Customize fraud detection
Our experience helps us frame global, categorized, and custom rules for detecting fraud, segmenting and actioning alerts, and tuning risk profiles rules to suit our clients’ needs.
How RS Software Executes
RS Knowledge Management
Curated learnings from client engagements, enriched continuously with visits by industry SMEs to our Silicon Valley office and our world-class development center in India, participation in industry events globally, and ongoing market research keeps us current at all times. Best practices are in place to maintain the rich information in a systemic manner, tested for prompt availability over 25 years, proven scalability in talent knowledge growth and in building reusable knowledge artifacts.
RS School of Payments™
The single focus here is to provide a platform for continuous learning. Leveraging RS Knowledge Management, we have built a rich set of payments and technology-focused curated content at various levels of advancement. Best practices of in-class and remote learning are deployed and tested for effective learning with feedback from performance in projects. A combination of mandatory and optional learning sessions are made available as domain credits, which are evaluated for complete understanding through formal evaluation, and certification is then granted. Quick and constant learning access is the only way to scale and help clients win.
RS Payments Lab™
RS Knowledge Management and institutionalized learning through RS School of Payments come together to motivate and create an environment for innovation. The RS Payments Innovation Lab which celebrates its 10th birthday in 2019 has many credits, including a patent in US for a geo location based algorithm that facilitates customer acquisition. The lab has built multiple fintechs that surface as an integrated solution on the company’s world-class digital merchant acquiring platform. The lab is an incubator for payments innovation and applied technology, leveraging our Silicon valley presence and innovation focused talent in India.
RS Accelerators and Assets
Years of investment in Innovation, and the core values of the organization to be responsive to customers are the driving forces behind the development of accelerators, frameworks and products. A combination of these digital assets are deployed to enable faster time to market based on customer needs. A suite of these assets are now available, with more being added as continued innovation comes to fruition. The execution excellence is enabled by applying appropriate project management practices from the set of tried and tested methodologies such as Waterfall, Relaxed Waterfall, Agile, Distributed Agile, etc.
Our success stories
Implemented an in-country FRM platform within six months with commodity hardware and open source components for processing 5 billion monthly transactions.
Implemented payment fraud specific rules across multiple products for monitoring 18+ online and offline channels, for 1,200+ Bank issuers, 1,200,000 + merchants/acceptance points, processing nearly one billion transactions per month and growing.
Huge data lake
Set up the required Infrastructure at the customer data center designed and built a data lake to store six months of data.
Benchmarked the system with a response time of <200 milliseconds and a sustained load of 2,500 Transactions Per Seconds (TPS).