Enterprise Fraud

For banks to protect their customers and their bottom line with more contextual decisions, an enterprise fraud approach is an imperative.

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Enterprise fraud management is vital for the customer experience


Enterprise fraud as a concept has been discussed for years. Yet, despite the maturity of the phrase, many financial institutions still do not analyze fraud at a truly enterprise level. With different products and channels managed by different teams, different fraud management platforms abound. From a fraud strategy perspective, this means the data, systems, and people for card fraud are not aligned with those for retail banking fraud opening up cracks that fraudsters exploit to their advantage and leaving customers unprotected.

Understanding the building blocks of enterprise fraud

Real-time, customer-centric fraud prevention is challenging because systems, operational processes, and organizational structure must align. Listed are the critical considerations that should be top of mind as you take the journey towards a more contextual, customer-centric, enterprise fraud management approach.

Determine your data and processing ecosystem

Identify your current state of data. What data do you have and what data do you need — whether internal or from a third party? What data can you obtain in real time? Prioritize this inventory.

Leverage analytics

Fraud attack vectors evolve constantly. Machine learning analytics built on rich consortium data sets provide a self-learning capability that identifies and adapts to sophisticated fraud attacks.

Develop a strategy to solve fraud for the complete customer relationship

Comprehensive customer-level behavior profiles are critical to your enterprise fraud strategy. You need to know what normal behavior looks like for each customer across all of their transactional activity — monetary and non-monetary.

Respond to fraud in real time

Enterprise fraud management must be real-time and sub-second to protect the bottom line and the customer experience.

Layer your defenses

From authentication to understanding how a common point of compromise affects your customer, you need comprehensive and integrated fraud solutions that protect across the customer lifecycle.

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Fraud Protection and Compliance
Case Study

Large financial services bank in Turkey

How a major bank in Turkey proactively tackled enterprise fraud with a customer-centric approach
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Get in touch

Speak to an expert today to learn more about how FICO can help you take an enterprise approach to fighting fraud and financial crime.