rt360 Real Time Monitoring System

Prevent frauds and perform real-time monitoring of financial transactions

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rt360 Credit
Risk Suite
rt360 Early Warning System
rt360 Expected Credit Loss
rt360 RAROC Calculator
rt360 Collections Management System

Real-time monitoring to prevent frauds and oversee financial transactions

In today’s fast-paced world, monitoring the genuineness of high-value, high-volume transactions has become increasingly challenging. Meanwhile, sophisticated frauds are on the rise, making it difficult to trace the movement of funds. While many banks have implemented Enterprise Fraud Risk Management (EFRM) systems, these systems primarily focus on channel frauds and liability transactions while sidelining credit frauds. In the wake of rising credit frauds, the Reserve Bank of India (RBI) has directed banks to implement critical safety measures, including real-time monitoring of loan accounts.

rt360 Real Time Monitoring System emerges as a powerful solution that enables banks to monitor accounts based on various parameters. By monitoring transaction-based events, suspicious transaction patterns and so on, the system provides real-time monitoring alerts that facilitate proactive and preemptive follow-up actions.

Learn how BCT Digital enabled 360-degree transaction monitoring at a leading Asian bank through its state-of-the-art Unified Monitoring System.

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Key Features


Risk Management as-a-Service

Enabled through modular microservices-based architecture, scalable and responsive UI (web & mobile)


Flexible deployment modes

Cloud-ready architecture tuned for on-premises, cloud, or hybrid deployments


Case management

Supported by DROOLS-based rule engine to route alerts/cases as per the institution’s escalation hierarchy for time bound closure


Reporting capabilities

Best-in-standard reporting for management review and regulatory purposes


Scalability

Horizontally and vertically scalable to meet increase in volumes and users


End-to-end automation

Automated data extraction through open APIs for internal and external data sources

Key Functionalities

kf-1

Near-real-time transaction data ingestion

Near-real-time transaction data ingestion

Uses approaches involving APIs, bots and so on integration costs and multi-vendor interactions
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Near-real-time alert generation

Near-real-time alert generation

Expandable library of alerts covering all portfolios of the bank, with parameterized thresholds for alert generation
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Targeted alert handling

Targeted alert handling

Executed through case management and setting of priorities. Enables fixing different levels of criticality by alert, along with resolution time
enterprise risk management

Highly modular

Highly modular

Allows financial institutions to select services as per risk appetite, management priorities, regulatory guidelines, technology readiness, and so on
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Near real-time transaction data ingestion

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Near real-time transaction data ingestion

rt360 Real Time Monitoring System uses approaches involving APIs, bots and so on to effectively manage integration costs and multi-vendor interactions.
28453

Near real-time alert generation

28453

Near real-time alert generation

rt360 Real Time Monitoring System offers an expandable library of alerts covering all portfolios of the bank, with parameterized thresholds for alert generation.
33369

Targeted alert handling

33369

Targeted alert handling

Executed through case management and setting of priorities. rt360 Real Time Monitoring System enables fixing different levels of criticality by alert, along with resolution time.

Benefits

Enhanced transparency
Minimize any information asymmetry that would typically lead to fraud.
Real-time monitoring and feedback
Immediate scrutiny of high-value transactions, enabling preventive action by the bank.
Seamless integration
Easily integrate with data feeds (e.g. transaction feeds) and external data points (e.g. aggregator feeds).
Round the clock monitoring
Route system alerts to monitoring teams or call centers for 24x7 monitoring.
benefits5
Intelligent detection
rt360 Real Time Monitoring System’s machine learning capabilities reduce false positives and help identify suspicious transactions.

Products

rt360 Credit Risk Suite​

A transformative product suite powered by AI/ML algorithms, data analytics, configurable workflows, and extensive reporting and dashboarding tools.
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rt360 Early Warning System

Comprehensive, always-on early warning indicators powered by AI/ML to help bankers identify potential default, stress or fraud.

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rt360 RAROC Calculator

Accurately assess customer profitability while making credit pricing decisions for RAROC calculation thereby increasing credit growth.
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rt360 Collections Management System

Unlock your full collection potential and increase resolution rates cost effectively with advanced AI/ML technology that underpins a robust collections strategy.
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rt360 Expected Credit Loss

Compute Expected Credit Loss as per regulatory, IND AS 109 guidelines, while addressing requirements such as PIT PD, and macro-economic factors.
Read More

rt360 Real Time Monitoring System

Enhance fraud detection and prevention with real-time monitoring, and facilitate proactive and preemptive actions.

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Brochures

rt360 Credit Risk Suite

Get sustainable growth and maximized profitability powered by AI/ML algorithms, data analytics, configurable workflows, and extensive reporting and dashboarding tools.

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rt360 Early Warning System

Stay alert, efficient and profitable by identifying credit risks proactively and leveraging end-to-end predictive analytics.

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rt360 RAROC Calculator

Ensure dynamic risk-based pricing and efficient capital allocation with focus on maximizing profitability and driving sustainable growth.

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rt360 Collections Management System

Identify credit risks proactively, collect more, economically and at an accelerated pace by leveraging state-of-the-art predictive analytics.

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rt360 Expected Credit Loss

Recognize expected change in credit risk and onboard a framework to manage forward-looking credit loss. Adopt proven, scientific methods for computing credit losses.

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rt360 Real Time Monitoring System

Prevent frauds, monitor high-value, high-risk financial transactions in real/near real-time. Get timely alerts that facilitate proactive and preemptive follow-up actions.

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Frequently Asked Questions

A real-time monitoring system is designed to continuously track and analyze transaction-based events in real time. This system is particularly beneficial in environments where high-value, high-volume transactions occur frequently, such as in banking. By providing real-time alerts, real-time monitoring systems help organizations like banks to proactively respond to suspicious transactions, thereby enhancing the detection and prevention of fraud. The benefits include increased transparency, reduced risks of fraud, and the ability to take preemptive actions, ultimately securing financial transactions.
Delays in data processing and analysis can significantly diminish the effectiveness of organizations, especially those that rely heavily on timely and accurate information to make critical decisions. In sectors like banking, such delays can hinder the ability to detect and respond to suspicious transactions quickly, increasing the risk of fraud and financial losses. For organizations using real-time monitoring systems like rt360, timely data processing ensures that alerts are generated and acted upon swiftly, which is crucial for mitigating risks and maintaining operational efficiency.
The lack of integration with existing systems can pose significant challenges to the implementation of real-time monitoring systems. If a real-time system cannot seamlessly connect with other banking systems or external data feeds, it may not have access to all necessary data, leading to incomplete monitoring and ineffective fraud detection. Furthermore, poor integration can result in higher operational complexities and costs, as well as difficulties in maintaining data accuracy and consistency across systems.
In the rt360 Real Time Monitoring System, automation and predictive analytics are pivotal for enhancing the efficiency and effectiveness of fraud detection. The system uses machine learning algorithms to intelligently analyze patterns of transactions and predict potential fraudulent activities. This reduces false positives and enables the system to generate more accurate alerts. Automation in alert generation and handling also ensures that each case is managed promptly and appropriately, streamlining the overall process of fraud management.
Ensuring data accuracy and reliability in real-time monitoring involves multiple strategies. The rt360 Real Time Monitoring System integrates seamlessly with external and internal data sources to ensure a comprehensive data feed. It employs advanced data processing techniques to handle and analyze the data accurately in near real-time. Regular updates and maintenance of the system’s algorithms and databases are crucial to adapt to new patterns of fraud and changes in transaction behaviors. Organizations can rely on rt360 to deliver dependable and timely results in monitoring financial transactions.
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risk management suite
BCT Digital’s rt360 risk management product suite transforms the world’s leading enterprises, drawing on the strengths of next-generation technologies, sophisticated AI/ML models, data-driven algorithms, and predictive analytics. Its revolutionary Fintech, Regtech, and SustainTech solutions help enterprises optimize their core governance, risk, and compliance processes, enabling them to augment their positioning and go-to-market capabilities.

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