Business Case
Achieving ROI of over 1000% in the first year of operation
Business Challenge
The client was using a range of fraud prevention measures across its many divisions, some of which were more advanced than others. The fraud measures were proving successful with the incidence of fraud at the bank growing significantly less than the average across the industry.
However, the client recognised the additional value that could be achieved in deploying a standardised approach to fraud prevention throughout the bank to ensure consistency, reduce operational overheads and enable a cutting-edge approach.
The Decision Analytics answer
Following a vendor evaluation the client selected Experian to deliver its market leading application fraud prevention system. With a proven track record in the industry it provides a single, flexible answer to combating fraud efficiently and effectively. The Decision Analytics system is fully integrated with the risk management infrastructure for a seamless, secure application process.
The Benefits
- Achieved ROI of over 1000% in first twelve months of operation*
- Achieved ROI within 1 month of implementation*
- Enhanced fraud prevention with no effect on operational resources
- Total fraud detection coverage with no impact on processing times
- Exceeded expected fraud savings by more than 50% over the first year of operation
- Rapidly deployed system with minimal impact on internal fraud and IT resources
- Referral rates minimised with accurate fraud detection for maximum hit rates
* based on the value of fraud detected and prevented
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