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Haystax: Prioritized Risks, Actionable Intelligence

Cyber Fraud

Stop processing alerts and start detecting sophisticated fraud activities.

Cyber Fraud

Stop processing alerts and start detecting sophisticated fraud activities.

Home > Security Analytics Products > Anti Fraud | Cyber

Reason like a team of diverse experts at scale

Defending against cyber fraud has emerged as one of the greatest challenges facing financial services and other commercial enterprises today. The Haystax Constellation Analytics Platform™ is an early warning system for fraudulent activity across the enterprise. Our approach blends a variety of analytic technologies with our own patented risk modeling capabilities, detecting the highest-priority fraud events in real time and rapidly alerting those who need to know. By favoring the model-first approach over less sophisticated ‘big data’ technologies, we excel at finding even weak indicators of fraud as well as so-called ‘black swan’ events that have no precedent.

Reason like a team of diverse experts at scale

Defending against cyber fraud has emerged as one of the greatest challenges facing financial services and other commercial enterprises today. The Haystax Constellation Analytics Platform™ is an early warning system for fraudulent activity across the enterprise. Our approach blends a variety of analytic technologies with our own patented risk modeling capabilities, detecting the highest-priority fraud events in real time and rapidly alerting those who need to know. By favoring the model-first approach over less sophisticated ‘big data’ technologies, we excel at finding even weak indicators of fraud as well as so-called ‘black swan’ events that have no precedent.

Target the disease

Haystax data scientists, in cooperation with an organization’s internal experts, build a tailored model that uses so-called Bayesian networks to prioritize and rank hundreds of different fraud event indicators. The model ingests structured and unstructured data on user type, behavior and many other indicators, then prioritizes the results according to the likelihood of fraudulent activity. The solution also identifies for further investigation anomalous activity that cannot readily be applied to a known fraud indicator. The Constellation Analytics Platform™ can be integrated into an organization’s existing SIEM and UEBA tools, as well as other related systems. The output is displayed in a dashboard, accessible to relevant personnel who are then able to investigate further based on qualitative reasoning.

Target the disease

Haystax data scientists, in cooperation with an organization’s internal experts, build a tailored model that uses so-called Bayesian networks to prioritize and rank hundreds of different fraud event indicators. The model ingests structured and unstructured data on user type, behavior and many other indicators, then prioritizes the results according to the likelihood of fraudulent activity. The solution also identifies for further investigation anomalous activity that cannot readily be applied to a known fraud indicator. The Constellation Analytics Platform™ can be integrated into an organization’s existing SIEM and UEBA tools, as well as other related systems. The output is displayed in a dashboard, accessible to relevant personnel who are then able to investigate further based on qualitative reasoning.

Detect and prioritize in real-time

The primary benefit of the Constellation approach is that is able to discern even weak signals and slight anomalies at machine scale and flag these up for human intervention, finding threats that other tools often miss, while avoiding the ever-growing spiral of false positives that other systems generate. And because Constellation is transparent rather than ‘black-boxed,’ the user can see why a risk score or probability is being calculated a certain way.A working system can be deployed in a matter of weeks, not months or years. With the rapid evolution of the threat and with the US government accelerating a move to encourage significantly improved cybersecurity at private enterprises, now is the time to put in place a robust predictive analytics program like Constellation to counter cyber-fraud.

Detect and prioritize in real-time

The primary benefit of the Constellation approach is that is able to discern even weak signals and slight anomalies at machine scale and flag these up for human intervention, finding threats that other tools often miss, while avoiding the ever-growing spiral of false positives that other systems generate. And because Constellation is transparent rather than ‘black-boxed,’ the user can see why a risk score or probability is being calculated a certain way.A working system can be deployed in a matter of weeks, not months or years. With the rapid evolution of the threat and with the US government accelerating a move to encourage significantly improved cybersecurity at private enterprises, now is the time to put in place a robust predictive analytics program like Constellation to counter cyber-fraud.

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National Australia Bank (NAB) has always been at the forefront of research to ensure the security of the bank and its customers, including the use of big-data technologies to identify malware and fraud.

“To extend our leadership position, we collaborated with Haystax Technology this year to test Haystax’s technology in relation to real-time malware identification. Their security analytics platform is allowing us to move to a more dynamic and predictive risk posture.”

Nick Scott , NAB’s Head of Security Governance

Learn more

To learn more about Cyber Fraud, download our one-page case study here.

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