Modeling & Analytics for CNP Fraud Management

Description

This course provides thorough discussion and explanation of the concepts, terms and definitions related to the use of custom statistical models for fraud and risk management applications. This includes discussing types models of and approaches to modeling, defining the required components of a custom modeling solution, understanding factors that dictate modeling performance and success, and discussing specific vendors that offer varying levels of custom modeling components and services.

This course was last updated in May, 2020 to include an added discussion on the use of fluid thresholds for determining risk as well as an updated overview of the vendors servicing the custom modeling and analytics space. HTML5 – compatible with all browsers and mobile devices.

We Want 100% Satisfaction: There is nothing worse than signing up for training only to find out that it wasn’t on the topic you expected, or it wasn’t advanced enough to provide value. If you have any doubt about the fit of a course to your particular needs, please give us a call. We will be happy to discuss the course, and to provide a more detailed overview on the content to ensure you make the most of your training dollars and time.

Enrollment

• Course Access: Unrestricted
• Course Availability: Online, In-House and Webinar
• Prerequisites: This is an advanced level course building off fundamental information about CNP fraud management and intermediate level knowledge of fraud prevention tools, techniques and services for the Customer Not Present channel. It is recommended that students have already completed the eCommerce Fraud: Moving from Tools to Solutions and Overview of Fraud Prevention Techniques courses.

The Fraud Practice’s Online Portal and Training Courses:

• Available On Demand 24×7
• Fast, Reliable Online Presentation
• SCORM Compliant
• Includes Course Syllabus
• Includes Course Lessons & Quizzes
• Includes Final Exam
• Course Completion Certificate

Key Concepts Covered

Whereas custom modeling and analytic risk management solutions were only practical for enterprise organizations and large financial institutions years ago, these advanced fraud management services and techniques are attainable to many large and medium volume merchants, issuers, processors and other organizations today. Just because custom modeling is now more within reach doesn’t mean it is any less complicated, and organizations have many considerations starting with how much they want to manage in-house and how much they want to have provided by third party services.

Key Concepts Covered:

• Fraud Analytics
• Fraud Scoring
• Custom Models
• Scorecard
• Neural Networks
• Statistical Pattern Recognition
• Modeling Infrastructure Platform
• Bayesian Models

What to Expect

1. What is custom modeling and analytics, and how does it fit into the context an overall risk management strategy and fraud solution?
2. What is the difference between custom modeling, fraud scoring and rules engines?
3. What are the components that are required to support a custom modeling solution, and what are some of the factors that can influence success?
4. What are the different types or forms of statistical models that are used with fraud and risk management?
5. Who are the different third party vendors offering custom modeling services for fraud and risk management, and what components does each provide?

Expected time to complete training: 120-150 minutes (includes quizzes and exam)

Course Applicability:

• Payment Types: Payment Cards, Bank Transfers, Alternative Payment Methods
• Channels: Customer Not Present / eCommerce
• Regions: Global – North America, South America, Europe, APAC, Africa & Middle East
• Level of Difficulty: Advanced

Training Objectives

1. Define the terms and have a strong understanding of the concepts related to the use of custom statistical modeling for fraud and risk management.
2. Be able to discuss several types of statistical models, the four required components of a custom modeling solution and factors that can influence performance.
3. Be able to apply knowledge about the prerequisites and considerations for being able to successfully support custom modeling within your organization.
4. Know and be able to discuss third party custom modeling vendors and what aspects or components of custom modeling they can provide.

Continuing Education Credit (CPE)

Taking this course provides 2 Fraud Related Continuing Professional Education (CPE) credit for maintaing CFE credentials with the Association of Certified Fraud Examiners (ACFE).

What People Say

“For a merchant starting business, if they know about these training programs it would save them a lot of trouble down the road. Unfortunately many don’t learn about fraud until it is too late.”

— B. Holmes, eCommerce Certified Fraud Professional

“The training program is fantastic. You don’t have to download anything, it runs quickly and easily right on your web browser. You can pause and go back to write down or review information, play and navigate through the lessons seamlessly.”

— E. Dietrich, VP Global Fraud Prevention Risk Services, ACI Worldwide

“With my experience I thought I would breeze through the training program with no problem, but I’m finding myself challenged in some aspects and learning things I haven’t seen before.”

— T. Hornbaker, eCommerce Certified Fraud Professional