Global technology major Oracle Retail has upgraded its XBRi Loss Prevention Cloud Service to allow retailers to identify and investigate fraudulent activities across store and online transactions.

Oracle Retail vice-president Jeff Warren said: “The opportunity for retail theft grows as retailers reach to meet customer expectations and struggle to manage individual channels of engagement.

“The updates to Oracle Retail XBRi provide customers with the tools to protect their margins and is another example of the continued value we aim to deliver through cloud services.”

Leveraging iterative cloud updates, the XBRi Loss Prevention Cloud Service offers cost reduction in installation, set up and maintenance of solutions.

It identifies anomalous behaviour and potential cases through embedded science, while helping store managers in training associates to detect and avoid potential loss.

“This new generation of cloud services accelerates the path to ROI within months of deployment.”

Interface of the platform enables analysts to configure reports tailored to the needs of omnichannel brands without any additional costs.

Oracle Retail omnichannel strategy senior director Chris Sarne said: “This new generation of cloud services accelerates the path to ROI within months of deployment.

“The result is a smart, holistic approach to preventing fraud and saving money that scales to grow with your business.”

XBRi will also be integrated with the company’s Xstore Point-of-Service to identify sources of risk and deliver purpose-built reports to support investigative activities.