Why TIBCO Cloud Live Apps is a Good Fit for Fraud Detection and Management
Blog: The Tibco Blog
As the banking industry evolves, so do regulations and expectations — it’s only fair to turn to technology to help the industry meet these regulations and expectations.
That’s why we created TIBCO Cloud™ Live Apps, a business user focused, low-code development platform, with case management capabilities at its core.
Many banks are already struggling to meet increasing regulations. They simply don’t have time to rely on IT for all of the new or updated app requests. When time scales are tight, Live Apps delivers by allowing those most familiar with the business problems to have a driver’s seat in application development without waiting on an already backlogged IT department.
This is a genuinely new approach that encourages natural-minded problem solving. Business users understand the case, they aren’t required to bend their way of thinking to find a solution. Live Apps allows them to make their idea a fully functional app in minutes. It also allows them to quickly test, modify, and scale that app so that it continues to be beneficial for the business.
Regulators want to know the entire process of fraud investigation — why the transactions were flagged, what the resolution was, and the decision throughout. Current systems make this difficult. They are complex. And, user access and sharing are difficult. As an answer, Live Apps offers a collaborative and fast environment where regulators can easily have access to necessary information. This means they are able to view things themselves, rather than adding more difficulty and time constraints to an already demanding situation.
It’s also important to note that while these regulations may apply to many banks, there is no one-size fits all solution. Different banks have different needs and wants. This is where the flexibility of Live Apps is essential. The applications that are created are catered specifically to your business needs and wants, and extend your existing systems, rather than a makeshift solution that doesn’t deliver the results you need.
Watch our demo to see how Live Apps is used with the Risk Management Accelerator to detect fraud, manage investigation, and meet increased regulations.
Editor’s note: Subject Matter Expert Mark Hudson was interviewed for this blog