Pondera’s FDaaS will integrate Azure Machine Learning to identify anomalies, trends, clusters and patterns that indicate fraudulent activities.
Pondera Solutions announced Thursday that it has integrated its Fraud Detection-as-a-Service (FDaaS) detection solution with Microsoft Azure, including Azure Machine Learning, Microsoft Power BI, and Azure SQL Database. Pondera's FDaaS is a trademarked, cloud-based solution that analyzes claims and program participants, quickly sifting through massive data sets to identify problems and alert agencies to investigation.
FDaaS is a super investigator that combines technical intelligence with agency data to quickly identify potential fraud. Because FDaaS uses machine learning and geospatial technology, it also continues to learn over time, uncovering new and emerging methods of fraud.
“Pondera Solutions’ fraud detection software already offers an advanced combination of computing power and real-world fraud investigators,” said Andy Pitman, director of HHS Solutions for Microsoft Corp. “FDaaS’ integration with Microsoft Azure will result in an even more powerful fraud-fighting system.”
Pondera’s FDaaS will integrate Azure Machine Learning to identify anomalies, trends, clusters and patterns that indicate fraudulent activities. Microsoft Power BI will help to visualize the results of the fraud analytics in operational reports and the Executive Dashboard.
“Pondera Solutions will bring significant value to our customers, who will benefit from the immediate integration of FDaaS with Microsoft Azure when analyzing their data,” said Pondera Chief Executive Officer Jon Coss. “Azure Machine Learning, in particular, offers our customers the ability to quickly scale up or scale down analytic functions to make our solution even more effective in detecting fraud, waste and abuse.”
Pondera uses a combination of Infrastructure-as-a-Service (IaaS) and Platform-as-a-Service (PaaS) offerings in Azure to give FDaaS the best combination of power, control, flexibility and speed to results. IaaS is used to run complex and specialized routines and processes, and PaaS is a highly scalable and cost-effective model to take more mature routines and processes into a production mode. Azure SQL Database is used post ETL to host Pondera’s transactional and nontransactional production environments.
Pondera has made headlines a couple of times this spring and summer. In June, the GovTech 100 company based in Gold River went the private-equity route with a large investment by Serent Capital of San Francisco, suggesting an intention to quickly increase the business value of the company.
More recently, Pondera made news again with the announcement that Malcolm Sparrow, a nationally recognized author and Harvard professor, had agreed to serve on Pondera's board of directors. Sparrow’s credentials are impressive: He’s faculty chair of Harvard University’s Executive Program, “Strategic Management of Regulatory & Enforcement Agencies.” He’s also a professor of the Practice of Public Management at Harvard’s John F. Kennedy School of Government. In addition to License to Steal, Sparrow has written seven other books and is an internationally recognized expert in his field, having testified before numerous U.S. House and Senate committees and in state legislatures. He’s been cited in The New York Times and The Economist, among other publications.
Pondera Solutions, founded in 2011, aims to use the power of cloud computing and advanced analytics to combat fraud, waste and abuse in large government programs. Since that time, Pondera has helped government programs in seven states prevent and collect hundreds of millions of dollars in improper payments.
This story was originally published by Techwire.