Why QSFS - QSFS by Quadratyx

Challenges Faced by Banks

Transformative Impact of Digital Transactions

The exponential growth of digital transactions has revolutionized banking, offering unparalleled convenience. In FY 2022-23, there were 114 Billion digital payments amounting to $7.3 Trillion, illustrating the substantial scale of this transformation. However, this progress has also created opportunities for fraud, thereby presenting challenges for financial institutions.

Evolving Challenges in Banking Security

Fraudsters complicate detection and prevention by employing advanced methods such as SIM swapping, identity theft, and RATs.

There has been a concerning surge in both the number and monetary value of payment frauds in recent times. From fiscal year 2015-16 to 2022-23, the volume of such frauds has skyrocketed by 462%, and their overall value has seen a staggering 593% increase. This evolving nature of fraud and increased instances have implications for banks.

Financial Implications and Customer Trust

	Banks face significant financial loss from fraud, liable for compensation.
	Balancing fraud prevention with operational stability puts pressure on resources.
	Each fraud event chips away at customer confidence, a key asset in long-term banking relationships.

Turn the tide against fraud

Why QSFS?

QSFS empowers banks to combat payment fraud like never before. Utilizing cutting-edge machine learning capabilities, QSFS offers accurate detection of suspicious activities, swift response to emerging threats, real-time risk scoring, and seamless integration with existing systems. With its dynamic adaptability and nuanced pattern detection, QSFS sets new benchmarks in fraud prevention, safeguarding customer accounts and transactions with unparalleled precision. Embrace the future of fraud detection and secure the trust of your customers with QSFS.

Customer Specific

Uses historical data to build Customer Genomes

Dynamic

Updates Customer Genome after each transaction

Nuanced

Detects unconventional frauds and subtle behavioral changes

Adaptive

In-built model retraining adapts to evolving frauds

Integrable

REST API allows easy integration with any existing FRM solutions

Instantaneous

Effectively scores transactions in milliseconds

Scalable

Microservices architecture ensures scalability for increasing volumes

Actionable

Management dashboard enables performance metrics review

Experience QSFS in Action

Supercharge your fraud detection capabilities with QSFS! Experience real-time, and adaptive fraud detection that stays one step ahead of fraudsters. Seamlessly integrate with your existing systems, handle growing transaction volumes, and gain actionable insights. Transform your fraud risk management and secure your customers’ accounts today. Join the fight against fraud – implement QSFS now! Contact us for a demo.

QSFS by Quadratyx

We are a product-centric insight & automation services company globally. We help the world’s organizations make better & faster decisions using the power of insight & intelligent automation.