Synectics Solutions has contributed to a Government report focusing on the use of data and analytics to combat fraud in the public sector.
The Fintech, predictive analytics and data services company uses data and technology to identify and prevent fraud and delivers the National Fraud Initiative (NFI) which is deployed by the Cabinet Office.
The whitepaper, called ‘Tackling Fraud In Government with Data Analytics’, has been compiled by the Cabinet Office’s Department for Digital, Culture, Media and Sport.
Fraud costs the Government an estimated £31 to £49 billion every year and is an issue which is at the forefront of the political agenda.
Consultation on this topic aims to ensure that the Government continues to work with the public and private sector to build public confidence in the use of data and address outstanding issues and challenges such as those associated with data quality, access and analytical capability.
In the report, Synectics Solutions outlines the importance of developing and embedding a data mindset for preventing fraud, highlights the benefits of public and private sector partnerships and shares thoughts on what lies ahead.
The NFI is a huge data solution which benefits around 1300 organisations nationally including local authorities, government departments and housing associations.
Since the NFI was first introduced in 1996 it has helped to identify fraud and overpayments in the public sector, totalling £1.4 billion.
Louise Williams, Public Sector Product Manager at Synectics Solutions, said: “We are very pleased to have been asked to contribute to this whitepaper, which is very engaging and thought provoking.
“The paper demonstrates the positive approach that the UK Government is taking to address fraud and how it is harnessing the power of data and technology to protect the public purse.
“Synectics Solutions plays a key role in helping the Government to develop a data mindset for preventing fraud, which has yielded extremely positive results equating to billions of pounds in fraud savings.
“We are always looking at new opportunities to improve the Cabinet Office’s ability to combat fraud though cutting-edge technology and data solutions.”