Concord, MA, April 14, 2009 – Memento, Inc., a leader in enterprise fraud management, today announced Memento Case Manager 5.0, a next-generation solution for investigative case management. Offered standalone as an appliance, or as an integrated component of its flagship Memento Security fraud management platform, Memento Case Manager enables banks and credit unions to more effectively manage, investigate and resolve cases, and simultaneously uncover additional, interconnected fraud with robust, sophisticated forensic research capabilities.

Memento Case Manager 5.0 significantly redefines the role of case management while still supporting the view that effective fraud management is enabled by two complementary capabilities:

• Proactive monitoring and alerting for patterns of fraudulent activity (“detection”), and
• Aggregation, investigation and disposition of alerts, cases and tips (“investigative case management”).

The conventional justification for an enterprise case management system is that it enables streamlined processes, increased productivity, improved visibility and tracking, and more consistent regulatory filing and reporting. Traditional case management systems seek to achieve these goals by providing basic capabilities like workflow management, alert grouping and report filing. However, these solutions fall short when it comes to addressing a fundamental requirement – helping fraud analysts quickly make informed decisions about their assigned cases, and uncover as much interconnected fraud as possible during the process.

Today, fraud analysts face a fundamental challenge when managing cases – a limited amount of contextual data and a lack of sophisticated tools for forensic research, often resulting in frustratingly slow, incomplete, and less than comprehensive investigations.

Effective investigations require a comprehensive set of contextual data: for example, all transactions on an account, the history of account maintenance activity, the background of an individual being investigated, or information on other related individuals and accounts. With legacy case management systems, providing this rich data often requires a complex, expensive, and time consuming data warehouse project. Consequently, data accessed directly from a case management system is either limited in scope or not provided at all, requiring investigators to hunt down information in banking systems, either by themselves or with the help of scarce IT resources.

“Effective case management is about making good, quick decisions on alerts and cases,” says Avivah Litan, Distinguished Analyst, Gartner. “With strong data management and integration, investigators can easily access relevant information and bring together critical evidence for forensic investigations. The result is a tight link between fraud detection, investigation, and reaction.”
Memento Case Manager 5.0 brings financial institutions a more efficient and complete way to manage alerts, investigate fraud and resolve cases – one that taps the potential of every investigation to uncover additional fraud linked to the original alert, case or tip.

Key capabilities of the Memento Case Manager 5.0 solution include:

• Market leading data management and integration. Powered by Memento’s industry leading search engine based approach to data management and integration, Memento Case Manager enables fast, easy and flexible integration of alerts from multiple data sources, and adds additional data sources including contextual transactional data, reference data and any other relevant enterprise and third-party data. It also enables a simple migration from existing case management tools.
• Robust forensic research tools. With a rich, contextual view of all relevant data, investigators can perform comprehensive forensic research of all alerts, cases and tips, regardless of source, directly in Memento Case Manager, and no longer need to log in to multiple banking systems or request additional data from IT. Discovery of interconnected fraud – unreported, but related fraudulent activity – and collusive criminal networks are enabled through the sophisticated forensic research tools that are part of Memento Case Manager.
• Cross-channel alert aggregation and link analysis. Memento Case Manger automatically links alerts based on alert data as well as other account, transaction and reference information, enabling more comprehensive and accurate alert grouping and filtering. Alert linking breaks down barriers between siloed detection systems, providing a cross-channel view of fraudulent actions. Alerts related to the same case, customer, account or transaction can be grouped and investigated as a single entity. This presents the investigator with a customer-centric view of fraudulent activity that can speed resolution and potentially change decisions and outcomes.
• Collusive network discovery. This critical aspect of forensic research allows investigators to follow the fraud trail, identify suspicious connections, and uncover related fraud threats before losses occur. Memento Case Manager provides sophisticated, collusive network discovery for each alert or group of alerts, including graphical network diagrams showing linkages based on a variety of account attributes, account relationships, and account behavior.
• Collaborative workflow, reporting and metrics tracking. Memento Case Manager includes GUI-driven workflows and templates that can be customized base on role, alert type, priority and other factors. It includes standard and custom report and form generation, and support for electronic filing (e.g., Suspicious Activity Reports). Memento Case Manager also serves as a centralized repository for management-level and more detailed fraud and compliance reporting, summary dashboards and other key performance metrics.
• Appliance packaging. Memento Case Manager is offered as a full-featured, pre-configured application appliance that integrates all of the necessary hardware and software into one turnkey package. This feature minimizes the time and complexity of procuring, deploying and managing Memento Case Manager, and speeds time-to-value.

“Investigative case management is a critical element of fraud management for banks and credit unions,” says Paul Whitelam, Vice President of Product Management at Memento. “Memento Case Manager 5.0 is a great leap forward, and will dramatically extend the ability of fraud analysts and investigators to manage complex processes, easily perform diligent forensic research, and quickly make good decisions to prevent and manage fraud.”

For more information about Memento’s next-generation approach to investigative fraud case management, attend an upcoming webinar: http://www.mementosecurity.com/InvestigativeCaseManagementWebinar.php

About Memento
Memento, Inc. (www.mementosecurity.com) is a recognized leader in enterprise fraud management. Memento Security – the company’s award-winning solution – is an innovative platform for monitoring, detecting, and investigating fraud and inappropriate activities by a wide range of fraudsters, from trusted insiders to criminal outsiders. Used by the world’s largest and most influential financial institutions, Memento solutions are business-focused, easy to use, and quick to implement. By detecting inappropriate activities early and precisely, Memento gives enterprises the information they need to prevent loss, protect revenue and mitigate risk.

For more information:
Jamie Watt
Director, Marketing
Memento, Inc.
978-371-0673
jwatt@mementosecurity.com