The bank says that it chose the system to minimize fraud losses, reduce regulatory risk and mitigate financial crime.
In addition to the Erase system, Rietumu Banka will implement the Advanced Peer Group Analysis (APG) module. This uses a risk scoring calculation to identify extreme deviations, flagging alerts only when a customer’s behavior is significantly different from others in its peer groups.
NetEconomy says that, by leveraging this calculation method, high-quality alerts will be generated.
