During the Spieker Point Inc. open house, Walter Schwabe from FusedLogic TV interviews Greg Campbell, President & CEO of Spieker Point about using analytics for financial fraud detection.
Walter Schwabe:
“We’re here at Spieker Point Software Engineering and Solutions at their open house and eighth anniversary. Welcome to FusedLogic TV. I’m your host Walter Schwabe. We’re here at Spieker Point and I’m joined by Greg Campbell the President and CEO. Greg welcome back on set you know we’ve been talking throughout the night here at your open house about analytics and everything to do about that let’s talk let’s get specific and talk a little bit about the financial fraud industry and how actually there might be not industry but issue and let’s get into the insurance side of the business is their fraud happening in the insurance side.”
Greg Campbell:
“Absolutely and we have an interesting bench strength in terms of financial fraud detection or trying to translate that over to the insurance fraud industry what we see with both financial fraud and our early investigations into insurance fraud turns out that it’s really the merchant who is the biggest offender with respect to that fraud that’s happening there it’s not us in the that are the owners the credit cards or in this case users of the let’s say medical system it’s actually the proprietors out there who are running transactions multiple times from your visa card or in the insurance side of things that are charging for services that you haven’t used in that particular facility.”
Walter Schwabe:
“When you mention bench strength we’ve had Steve Hole who is your software architect and he’s got a lot of experience in that area I would imagine that there’s a ton of opportunity out there to really help insurance companies deal with this especially as you say in the medical side of things. Is it just strictly in Alberta that you doing business or do you look for opportunities outside the province as well?”
Greg Campbell:
“We do look for opportunities outside the province we are doing business in Europe right now as well as other parts in North America so you know that certainly is global economy is is what it is these days so we are doing work all over the place.”
Walter Schwabe:
“Sounds like a really large market to me.”
Greg Campbell:
“Well certainly and insurance fraud is kind of interesting compared to financial fraud in that financial fraud there’s trillions of transactions on a monthly basis you know it’s a huge data set to be able to draw conclusions from insurance fraud while the dataset still it’s fairly large it isn’t quite as large as that insurance market so you know we have to be a little bit more clever about how we are looking for fraud patterns and fraud detection.”
Walter Schwabe:
“Well listen kudos to you to getting one of the best in the business on your team.”
Greg Campbell:
“Thank you.”
Walter Schwabe:
“We’ve been speaking with Greg Campbell who’s the President and CEO of Spieker Point here at his open house. We’ve been talking analytics all night take a look at some of the other videos that we’ve been creating tonight here on FusedLogic TV. I’m your host Walter Schwabe. Thank you for joining us.”