Do you monitor the pulse of your fraud protection operations?
When your business depends on you to make informed strategic, tactical, and operational decisions, being able to gain actionable insights from your fraud protection system is crucial. Data should drive everything from reconfiguring rules to targeting new fraud vectors, manually reviewing transactions, presenting at monthly business meetings, or even monitoring and troubleshooting technical issues.
Built on an extensive data platform, Dynamics 365 Fraud Protection enables you to develop a toolkit with custom reports and applications that help you establish a robust fraud management strategy – while providing ongoing insights into your business.
Detecting and understanding fraud
Minimizing fraud begins with understanding fraud by identifying trends and patterns. Reporting helps you do just that by providing a historical view of fraud volume for your business. A customized fraud tracker is one example of a report that you can add to your fraud protection toolkit. These types of reports enable analysts to filter historical data and view score distributions by dimensions (for example, country or region, payment instrument type, or product category) to highlight high-risk segments. These reports can then be used to configure new or existing rules to target those events.
Tracking and raising awareness of high-level fraud trends also provides valuable insight for business planning. Reports used for monthly business reviews can be used to drive conversations around monthly targets, how your fraud protection system is performing, areas for improvement, and plans for upcoming product or process changes that could impact fraud rates.
Defining the analytics that matter for your business is imperative. Measuring success and understanding the impact, scale, fraud pressure, and efficacy of your systems will play a large role in influencing your business strategies.
Managing services and operations
Fraud operations often require multiple touchpoints for members within the organization to either review, monitor, or act on events occurring across various systems. Often businesses choose to develop custom applications to cover these overarching use cases. They will weigh the cost of maintaining these custom applications with the potential improvement in operational efficiency.
For example, if you have an IT organization that manages the service health of multiple business applications, it may be valuable to create a single application to monitor and alert on the health of them all. Sending API request times and errors for your fraud protection solution within the context of all of the other service notifications on a single application would streamline the process altogether. Adding these custom applications to your fraud protection toolkit will not only improve the health of your risk management solutions but also your business all-up.
How Dynamics 365 Fraud Protection can help
Dynamics 365 Fraud Protection provides in-app reporting through scorecards, monitoring dashboards, and a virtual fraud analyst. In addition, understanding the power of joining data across multiple business systems and each business’ unique reporting needs, we have also provided a platform to easily extract and manipulate the data available within Fraud Protection.
Event tracing provides both a real-time and bulk data egress mechanism to send data to your own Azure Event Hubs or Azure Blob Storage locations. By subscribing to events to track transactions, portal actions, or API performance through our Event Tracing page, you can easily analyze your service, extract insights, and develop custom reports by using Azure Stream Analytics or Logic Apps and Dataverse. Here you can join to other datasets available within your tenant to create a rich set of real-time reports such as audit logs, fraud trackers, or monthly business reports.
You can also utilize the data available in Event Tracing to create custom mobile or desktop applications to target unique use cases, which support your business with the help of Power Apps. Utilize Microsoft’s low-code app development platform to create fraud investigation tools for your support agents, latency monitoring applications, and more.
Developing a well-rounded fraud protection toolkit that is customized for your business needs will improve your fraud management strategy. The use of custom reports and applications to address unique needs for your business is a great way to extend existing business processes while incorporating insights from your fraud protection solution. Dynamics 365 Fraud Protection and the event tracing capability can provide the data platform to easily enable your business to configure these new experiences.
Get started today with Dynamics 365 Fraud Protection
Get started with sample reports