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THE CHALLENGES FOR ENTERPRISES

Financial institutions, insurance companies, and other enterprises collect a wealth of data from a variety of databases and platforms in both structured and unstructured formats. Separately, this data tells only a part of the story, and it is far too complex for analysts to identify patterns, insights or anomalies that could alert enterprises regarding potential threats and opportunities.

 

 

DATA-DRIVEN BUSINESS DECISIONS

Fifth Dimension is changing the game by transforming the unknown into business value. Fifth Dimension’s innovative platform integrates data from any database, any source, and in any format including structured data and unstructured data. All of the data is fused, processed and stored in one central location, and the technology then generates meaningful competitive insights.

 

 

THE FIFTH DIMENSION EDGE

Powered by AI and deep learning, Fifth Dimension’s solution will reveal the hidden value in an enterprise’s data, providing the ability to uncover insights that otherwise could not be found. Enterprises can make smarter, data-driven decisions by investigating and responding to risks before they become a reality while realizing new opportunities for profit and growth. When complex patterns are exposed, analysts can investigate the data with user-friendly tools and respond quickly to time-sensitive risks in order to protect the enterprise and its customers.

USE CASE 1

UNCOVERING & PREVENTING FRAUD SCHEMES

Economic crime is on the rise with nearly one-third of businesses experiencing it at some level and financial institutions and individual taxpayers losing billions of dollars annually. The most common schemes like asset misappropriation and embezzlement often occur through employees and result in the business suffering from financial hardships, costly remediation and new regulations regarding future compliance. 

The Background

Economic crime is on the rise with nearly one-third of businesses experiencing it at some level and financial institutions and individual taxpayers losing billions of dollars annually. The most common schemes like asset misappropriation and embezzlement often occur through employees and result in the business suffering from financial hardships, costly remediation and new regulations regarding future compliance. 

 

The Challenge

Analysts in financial institutions are faced with sifting through massive amounts of data including employee email records, web access, removable media, badge reader logs and VPN logins, as well as tracking data for employee activity on proprietary databases, trading systems and customer relationship management (CRM) tools. Their work is made even more challenging when attempting to connect entities and uncover insights from video camera feeds and audio recordings of phone calls. Correlating this volume of data can lead to the discovery of insights into criminal activity, however, it is impossible for any human to handle, especially under pressure.

 

The Solution

Fifth Dimension’s insight-driven investigation platform fuses and processes any amount of structured and unstructured data to uncover hidden relationships between employees, revealing complex schemes. The platform’s entity profiling, link analysis and advanced pattern recognition technology automatically identify high-priority leads and threats across structured and unstructured data. Fifth Dimension’s Auditory Similarity Cloud can be used to pinpoint connections between employee phone recordings while the platform simultaneously creates event timelines, further narrowing potential leads. Using the investigation platform and automated insights, analysts can explore additional connections and easily identify the culprits. With the solution in place, financial institutions can be alerted to any anomalies that might be related to fraudulent activities and stop them before they become financially devastating.

USE CASE 2

USER-BASED INSURANCE COMPANIES IDENTIFY DRIVER INSIGHTS

Usage-based insurance (UBI) is an innovation by auto insurers that aligns driving behaviors culled from vehicle telematics with premium rates for car insurance. Vehicle telematics generates huge volumes of data, which must be proactively analyzed to accurately assess and predict the risk of insuring each driver.

The Background

Usage-based insurance (UBI) is an innovation by auto insurers that aligns driving behaviors culled from vehicle telematics with premium rates for car insurance. Vehicle telematics generates huge volumes of data, which must be proactively analyzed to accurately assess and predict the risk of insuring each driver.

 

The Challenge

Telematics companies have typically relied on AI to provide basic pattern recognition within structured data, such as social media interactions, past insurance claims and driver history. Now, more advanced solutions are required to analyze all of the collected unstructured data from dashboard videos and static images, voice recordings and text content to gain a more holistic view of each driver.

 

The Solution

With its highly advanced AI and deep learning-based intelligence solution, Fifth Dimension’s platform integrates and processes large volumes of collected data – voice, video, image, and text – and automatically builds millions of profiles for drivers. The platform delivers automated and highly accurate predictive intelligence in the areas of risk assessment, driver verification, distracted driver detection and claims analysis. These enhanced capabilities enable telematics companies to offer greater incident prevention through unprecedented pattern analysis, improved risk assessment and more accurate insurance underwriting. Ultimately, these tools drive superior insurance coverage decisions and lead to significantly higher profitability.