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Case Study

Financial Institution Detects and Prevents Fraudulent Activity Before Actual Losses

A top 5 U.S. bank wanted a better way to detect and prevent fraud across their multiple credit card portfolios beyond their existing tools and technology. Because there was no centralized system in play, researching accounts was slow and required that they manually re-enter information across multiple systems.

Because of the manual process, investigations and knowledge were not easily transferred from one fraud agent to another. While cases could be created for individual accounts, the Bank had no way to identify and monitor a larger fraud ring, nor track related fraud activity for that ring over time. They also were unable to prioritize work across the various fraud rings to get the most benefit. The Bank knew they were experiencing losses to fraudulent activity and practices, but they had no way of managing a largely manual, decentralized process.

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