Top-tier European Bank
Find out how a top-tier European bank removed time-consuming manual processes to prevent more than $3 million in fraud losses per year.
Client: Leading UK Bank Challenge: Time-consuming manual processes, inaccuracies, data limitations, and an evolving fraud landscape were restricting the bank from reaching its full potential. It sought an intelligent solution that could operate more quickly, use consortium data to improve accuracies in detecting merchant compromises, and fight fraud as it becomes increasingly sophisticated. Solution: FICO® Falcon® Compromise Manager, FICO® Falcon® Intelligence Network, FICO® Falcon® Platform Results: The bank has the potential to reduce operational costs and call center interactions by up to 50% and doubled proactive identification of confirmed compromises. The bank now stands to prevent more than $3M in fraud loss per year, realizing a 4:1 ROI. And because of these efficiencies the bank has also seen a boost in overall customer satisfaction and increased card utilization.
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