Post by Logan on Jan 16, 2016 21:37:59 GMT -6
Gold River firm helping California, other states nail fraud artists
A Gold River company that was little more than an idea five years ago is now providing cloud-based fraud detection services to California and government agencies in four other states, helping catch an increasingly sophisticated group of tech-savvy criminals.
Pondera Solutions started building its intricate high-tech engine in 2011, rolling out its Fraud Detection as a Service, or FDaaS for short, in 2013. Since then, triple-digit percentage increases in annual revenue have been the norm, and state governments have come calling.
Pondera’s FDaaS system is a Google-powered analytics solution capable of analyzing and cross-referencing staggering amounts of data from multiple platforms and records-keeping entities, including records kept by states and counties. It can rapidly laser in on fraud, waste and abuse in government programs, enabling agencies to initiate investigations and ultimately, prosecutions.
For nearly a year, Pondera’s service has been utilized by the California Employment Development Department, which is tasked with making timely unemployment benefit payments throughout the state. EDD says scammers have become more adept at using computers and other high-tech means to defraud the process, but Pondera is making that much more difficult.
Read more here: www.sacbee.com/news/business/article54764570.html#
A Gold River company that was little more than an idea five years ago is now providing cloud-based fraud detection services to California and government agencies in four other states, helping catch an increasingly sophisticated group of tech-savvy criminals.
Pondera Solutions started building its intricate high-tech engine in 2011, rolling out its Fraud Detection as a Service, or FDaaS for short, in 2013. Since then, triple-digit percentage increases in annual revenue have been the norm, and state governments have come calling.
Pondera’s FDaaS system is a Google-powered analytics solution capable of analyzing and cross-referencing staggering amounts of data from multiple platforms and records-keeping entities, including records kept by states and counties. It can rapidly laser in on fraud, waste and abuse in government programs, enabling agencies to initiate investigations and ultimately, prosecutions.
For nearly a year, Pondera’s service has been utilized by the California Employment Development Department, which is tasked with making timely unemployment benefit payments throughout the state. EDD says scammers have become more adept at using computers and other high-tech means to defraud the process, but Pondera is making that much more difficult.
Read more here: www.sacbee.com/news/business/article54764570.html#