3 tips for creating intelligent fraud management workflows
Mary Powathil - Program Manager
Today’s continuous growth of e-commerce sales drives the need for a stronger focus on fraud detection and protection. To meet demand and stimulate growth, it’s become crucial to keep fraud and operational costs low by streamlining business processes. Automating the risk analysis and transactional review process with machine learning platforms, like Dynamics 365 Fraud Protection, is one way to do that.
Platforms like Dynamics 365 Fraud Protection provide a rich set of APIs that you can use to assess the risk surrounding account logins, account creations, and purchases. Rule-based linear models then use the risk score, as well as purchase or account attributes, to segment traffic and return automated decisions. Rules are just one way to automate decisions on events. It’s equally important to have this information feed into your existing business workflows and then automate where possible.
Here are three ways to help you customize and automate your own end-to-end fraud management workflow.
First: Diagram your existing risk management framework
It’s crucial that you develop a business process diagram (from transaction processing to data flows for automated risk assessments, case management, reporting, and communications) with key stakeholders and metrics for tracking success at each stage. Getting a high-level view of existing workflows will help identify areas for improvement or automation.
Second: Identify real-time decision points
Use your fraud management process diagram to identify key metrics or flags that could require real-time actions. For example, the risk score is an actionable data point used to indicate fraudulent activity and could be monitored in real-time. API latencies, rule executions, or changes to existing rules or configurations in your fraud management platform, are other examples of key data points that could be valuable to track in real-time.
Third: Configure triggers and automate actions
After identifying the key real-time decision points throughout your fraud management process, it is important to find a platform that will manage the data egress and automation components.
Dynamics 365 Fraud Protection’s event tracing establishes a real-time telemetry platform that can seamlessly integrate and extend your existing business workflows. You can subscribe to events triggered by the user or system-level actions and forward the data associated with each event to Azure Event Hubs or Blob storage. From there, you can take advantage of powerful fast-development tools such as Azure Logic Apps and Power Automate to configure trigger conditions and real-time actions from all of your connected systems.
For example, if a user’s score is suspiciously low, you can subscribe to a transactional event that will be sent to Azure Event Hubs and consumed in Azure Logic Apps to check the score, trigger an email, and investigate the order before a chargeback occurs. Using an ever-growing library of third-party connectors available in Azure Logic Apps, you can create a highly customizable workflow to cover everything from order investigation, additional verification for suspicious orders, alerting on changes made in the portal, and updates to customized monthly business reports. These connectors work seamlessly with Dynamics 365 Fraud Protection to provide you with a single solution for your business’ fraud detection and protection needs.
Developing a robust fraud management workflow that enables your business to scale and operate efficiently is crucial. Dynamics 365 Fraud Protection and its Event Tracing capabilities aim to support your business by easily connecting to and optimizing your existing business workflows. Get started today with Dynamics 365 Fraud Protection and learn more about how Event Tracing can provide real-time insights and workflow automation here: