Hewlett Packard Enterprise are leveraging machine learning with a new software product to help businesses in financial services and other high-stakes scenarios tackle and stop fraud.
As regulation on financial services is more intense than ever, institutions must take steps to comply and avoid heavy, sometimes billion dollar penalties. Meanwhile achieving compliance standards and stopping fraud is becoming more difficult due to ever-complex threats. Combine that with trying to monitor for and spot irregularities in data when you have multiple data types scattered globally and you start to see the where the issues lie for large multinationals.
That’s where the HPE Investigative Analytics solution comes in. It enables companies to identify and analyse risk events as well as take steps in prevention. The solution is purpose-built to identify and stop fraudulent activity and non-compliant behaviour on a macro-scale.
Leveraging HPE’s unique software assets in archiving, compliance and machine learning to automatically detect anomalies, Investigative Analytics allows organisations to root out and shut down bad behaviour before it becomes a crisis. The solution boasts a 200x greater hit rate than any other compliance and risk management system and is fully built on Hewlett Packard Enterprise’s hardware, software and cloud, delivering proven performance, interoperability and reliability.
David Jones, SVP and General Manager, Information Management & Governance at Hewlett Packard Enterprise was enthusiastic about what the product means for the market it serves: “Keeping ahead of unethical and illegal activity is imperative for organisations of all sizes today in order to protect themselves from fines, sanctions and negative publicty that can materially affect shareholder value”
“With HPE Investigative Analytics, we have built on our strong heritage in compliance and analytics software to deliver a solution that analyses more data at a deeper level than alternatives to deliver the greatest amount of insurance possible to our customers.”
In the interview below from June 2015 at HP Discover, before the formation of Hewlett Packard Enterprise in November, David Jones talks about Hewlett Packard’s approach to information management and governance.