Minimize Exposure Maximize Prevention

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Minimize ExposureMaximize Prevention
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Facts of life
In 2005 banks had to recover Tens of Billions of
USD In Card Fraud. 5 Billion in the US alone.
Frost Sullivan By 2009 US card fraud will rise
up to 15.5 Billion.
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Facts of life
9 out of 10 alerts turn out to be False
Alerts 70 - Undetected Fraud

• Identity Theft Related Fraud on the rise
• Number of cases (50 increase since 2003)
• Avg. fraud loss

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Facts of life
Over the last twelve months most companies have
increased spending on fraud management some by
more than 100 Nearly half have raised spending
by more than 10 CyberSource UK 2006 Fraud
Report
25,000 branches
21,000 branches
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Looking for a needle in a haystack 110,000
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We are looking for a chain
A sequence is like a chain easier to find a
chain and easier to validate if a chain is legal
or not More Detection with Less False Alerts
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Sequence 196,000,000 results
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Sequence of transactions - 2,830,000 results
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Sequence of transactions - 2 results
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SeqUR trying to do the unthinkable like

• Detect card fraud in speed

Speed Accuracy PATENT MDA2 Technology

• MDA2 technology
• Multi Dimensional Association Analysis

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ABC Sequence
B
A
Amount
C
Time of Day
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Case Study

• 650,000,000 historical transactions as raw data
• Examine 200 transactions in parallel per second
• Each transaction triggers 5 different sequential
  processes
• Using the following hardware
• 2 Blades, Duel Core, Duel Processors
• 16 GB RAM
• Total HW cost Under 35,000
• Pricing Model

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SeqUR Founders

• Ori Einhorn CEO
• Mr. Einhorn was the pioneer of data warehousing
  projects in Israel, installing the first DWH in
  Pelephone.
• A leader of data retrieval projects both for
  fraud detection and marketing, achieving an ROI
  of less than 10 months.
• An Expert of statistical solutions combining SAS,
  SPSS and SGI in data mining projects. While
  working as a consultant
• for PwC was elected as SIME Special Interest
  Matter Expert in DWH and DM for the Financial
  and Telco sectors.
• Pelephone Israeli Banks Poalim, Leumi, Fibi,
  Hamizrachi, Discount and others
• Isracard CitiBank National Bank of Greece
• Hagit Halperin V.P. Sales
• Combining computer science knowledge with
  software design skills, Ms. Halperin has a vast
  experience in leading
• anti terror and financial fraud prevention
  projects and had worked for many organizations
  such as
• IDF LOTAR (a combined project with the US
  authorities) The Israeli Anti Money Laundering
  agency
• UNICRE (Portugal) JCC Payments (Cyprus) Leumi
  Visa Isracard (Israel)
• Bank Leumi IRS (Tax forms USA) Swiss Post
  Bank
• Dr. Eli Eisenstein V.P. RD
• Ph.D in the Neural Networks field (Computational
  Capabilities of Neural Networks) - Department of
  Physics,
• Bar Ilan University. 10 years of experience in
  design and implementation of real time
  applications .
• Prior to his job at SeqUR, Eli was the manager of
  the software department at Mango DSP, handling
  multi DSP

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Profit Loss
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Cash Flow
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Thank You!