Fraud Analytic & Automated Solution Technology

What is FAAST ?

FAAST stands for Fraud Analytic & Automated Solution Technology. It is a risk management and fraud prevention system that monitors transactions and activities within an organization. The system analyzes and detects potentially high-risk or suspicious activities and automatically intervenes by halting transactions or activities deemed risky. It also promptly alerts relevant personnel to conduct further investigation and take necessary actions in accordance with the organization’s procedures.

How Does FAAST Work?

1. Data Ingestion

The first step in implementing and utilizing FAAST is defining the conditions and data to be monitored. FAAST supports multiple data ingestion methods, including real-time, near real-time, and batch processing.

• Real-Time & Near Real-Time – Data can be integrated using web services or message queues. FAAST provides ready-to-use APIs, allowing for quick and seamless integration.

• Batch Processing – Supports various integration methods, including direct connections to a data warehouse and different text file formats such as delimited files or fixed-length files.

At this stage, FAAST’s experienced specialists and analysts provide consultation and recommendations—from identifying optimal integration points to selecting the best techniques, considering the pros and cons of each approach to ensure the most efficient data ingestion method.

2. Data Monitoring and Analysis

Once the data is ingested, FAAST analyzes it using Rule-Based Analysis and Behavior Analysis.

• Rule-Based Analysis – This method detects fraud by comparing behaviors against pre-configured known fraud patterns (Rule-Based System). During implementation and configuration, FAAST experts provide guidance to ensure an effective setup. Rule-Based Analysis remains one of the most efficient approaches for identifying known fraud patterns.

• Behavior Analysis – This method identifies anomalies by detecting deviations from a customer’s usual behavior. For example, unusually large money transfers or transactions from an unrecognized mobile device to a previously unused recipient account

3. Alerting and Investigating Suspicious Transactions

When a suspicious transaction is detected, FAAST generates alerts through its Case Management system, a web application designed for relevant users such as fraud analysts, anti-fraud managers, and IT administrators.

The Case Management system displays detailed information on suspicious or high-risk transactions and activities, enabling users to conduct further investigations. Based on their findings, users can take necessary actions, such as Canceling the transaction, Temporarily suspending a user or account in confirmed fraud cases, Allowing the transaction to proceed if deemed legitimate

IC includes a Configurable Workflow for a user-friendly experience, allowing organizations to customize processes to match real-world operations. Additionally, it features self-service reporting, enabling users to generate reports efficiently.

Key Features of FAAST

• Comprehensive Transaction Analysis – FAAST can analyze transactions and activities in Real-time, Near real-time, and Batch processing through various integration methods, such as Web services, Message queues, Direct database access, and Multiple file formats.
• Customizable Rule Engine – Equipped with FAAST Rule, allowing monitoring teams and analysts to quickly create and modify rules, enabling them to promptly respond to changes in customer behavior or emerging fraud tactics.
• Report Wizard – Empowers analysts to Generate reports independently without needing programmers to modify the system.
• Expert Local Support – Provided by an experienced Thai team with Over 10 years of expertise in implementing Anti-Fraud Solutions.