Salviol Global Analytics, a London based, innovative software provider optimizes businesses through the detection, prevention and management of fraud. The company’s flagship FROPS software (Fraud, Risk and Operational Performance Solutions) targets the ‘Fraud Detection and Prevention market,’ which, by some estimates, is expected to grow to be worth 20.5 USD billion by 2019. FROPS monitors all of the processes within the organization and looks for deviances in behaviour and potential fraud. FROPS is supported by Salviol’s database of known global fraud schemes that is continually updated. So FROPS effectively serves as an anti-virus tool for fraud within a company. Salviol offers a guaranteed ROI within the first 12 months of implementing their solutions. The successful company is selected as one of 100 Most Promising Big Data Solution Providers in 2015, received a Bully Award, European Business Award and many other awards.
5% revenue loss due to fraud
Fraud is a major global issue. The insurance market is a trillion dollar market where a typical organization annually loses 5% of its revenue due to fraud. FROPS finds patterns in huge amounts of data, analyses them and warns the user of potential fraud. It is based on three core modules:
‘Investigator Suite’ identifies fraudulent patterns and finding new forms of fraud. ‘Real-time Event Suite’ makes processes smarter and detects fraud in real-time and advises how to improve processes. ‘Data Consolidator’ connects any internal and external data source and create a single point of view.
How does it work?
Backed by a one-year ROI guarantee, FROPS is an off-the-shelf, supportable solution that acts as a comprehensive package working with individualized security modules, and is quick to configure. Covering both structured and unstructured data, internal and external information, FROPS ensures maximum detection accuracy for the key indicators of fraud. An early warning system measures and minimizes risk and loss, while also detecting financial weakness and client’s vulnerabilities. FROPS easily sweeps through entire networks and operations with a revenue assurance module that measures processes, and searches for deviation. Additionally, risk and compliance solutions map event data to audit criteria, streamlining required resources in order to stay ahead of reporting and audit demands for mandates such as Data Retention, Data Privacy Act, PCI Sarbanes-Oxley, ISO 27000, and DSS.
Why we selected Salviol for DIA Barcelona
We selected Salviol at DIA Barcelona because Salviol addresses the massive, growing multi-billion dollar fraud problem. FROPS sets the standard for achieving zero tolerance in fraud detection. Their main competitive advantage is the existing database of fraudulent schemes and their 12-month money back guarantee.
Who is Salviol
Founded in 2009 by a group of ambitious entrepreneurs in a small Slovenian town. Today Salviol is a privately held company and headquartered in London. Last year they announced a partnership with Viewdeck Consulting Ltd. CEO and co-founder is Alexsandar Vidović.
In the summer of 2015 the company has raised 6.5 million euros in Series A funding led by Orange Growth Capital. Salviol will leverage the new funds to expand its European and international operations, and to drive sales of its FROPS product.
“Our customers are able to work in a fraud-free environment. We measure our success not only by the prices we won but by the satisfaction of our clients. We have managed to rapidly expand our client portfolio internationally” – Alexsandar Vidović, CEO and Co-founder Salviol.
Presenting at DIA Barcelona
Dejan Vidovic, VP of Sales