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When it came to fighting fraud, this leading North American bank was among the leaders in its region and comfortable with its losses.
So when it decided to look at improving its fraud shop, it wasn’t an act of desperation but a chance for evolution.
“The bank didn’t feel that they really needed a new tool for detection, but they understood the importance of continuing to look for improvement,” says Andrew Manuel, Fraud Consulting Group, FICO. “Fraud is constantly evolving—both in terms of fraud trends and the
tools available to fight it—and they knew that if they weren’t evolving as well, they risked falling behind.