Simplifying Multivendor Management with Risk & Fraud Orchestration

When it comes to fighting fraud, businesses need to use every tool in their arsenal to accurately assess risks in today’s rapidly changing threat landscape. But as more and more solutions and data sources are needed to manage risk, the complexities of managing a multitude of data sources can actually harm — not help — teams’ efforts to accurately measure risk and quickly respond to changing threats. 

Fortunately, risk orchestration provides a solution to these challenges. This blog post will explain what risk orchestration is, how it benefits businesses, and how it works on the Transmit Security Platform. 

What is risk orchestration? 

Risk orchestration integrates outputs from multiple detection solutions, harmonizing disparate risk scores into a standardized framework. This gives teams the ability to: 

• Build and adjust decisioning logic based on unified risk scores
• Improve fraud detection by eliminating data silos 
• Reduce the need for custom code 
• Simplify integrations between different data sources  
• Utilize individual risk tools for the specific MOs and threats they are strongest in
• Drive decisions on how to effectively respond to risk while minimizing friction for legitimate users 

Why is risk orchestration needed?  

To evaluate risk, enterprises may use multiple fraud tools, external reputation databases and in-house solutions. Each of these data sources have different strengths and weaknesses for evaluating risk, and each has its own unique way of collecting and structuring data, resulting in a range of complications that include: 

• Data standardization: Each solution calculates risk differently, making it difficult to compare scores and arrive at a unified decision for how to handle each request. 
• Complexity: Standardizing data and managing disparate tools requires more expertise and time, preventing teams from quickly responding to evolving threats.
• Cost: Each new tool increases the cost of implementing and maintaining integrations. 
• Context: Data silos inhibit teams’ ability to understand requests within the context of typical usage patterns.
• Customer experience: Without unified, actionable risk scores, businesses must rely on one-time passwords, strict session limits and other security measures to prevent fraud, resulting in degraded user experience. 

By providing unified scores that provide a clear, consistent picture of each customer’s risk level, fraud orchestration helps businesses streamline decision-making for how to handle each request — without introducing significant custom code into their application. 

Risk orchestration at Transmit Security

With risk orchestration on the Transmit Security Platform, teams can simplify multi-vendor management and get the most out of their fraud solutions, ensuring that the right tool is used at the right time. As a result, teams can: 

• Contextualize requests by viewing all of a users’ authenticators, devices, risk scores and applications in one place.
• Standardize data using a single identity hub to manage solutions from multiple vendors and cross-correlate fraud signals with call center logs and other internal data.
• Reduce complexity using drag-and-drop orchestration tools that help teams visualize the decisioning process and drive decisions between data sources without needing to make any code changes. 
• Lower operational costs by reducing the time and expertise needed to implement and maintain integrations.
• Improve customer experience by easily testing and tracking how different policies impact performance, accuracy and customer engagement.  

Conclusion

By streamlining operations and simplifying the management of multiple fraud solutions and third-party tools, risk orchestration helps businesses gain more agility and efficacy in detecting and responding to fraud on their platforms. 

For more information on how orchestration breaks down identity silos and improves multi-vendor management, check out our blog post on how TIAA leveraged Transmit Security’s orchestration capabilities to create security controls faster and reduce operational costs.