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European Bank – Fraud System Optimisation

Savantor’s fraud control experts provide annual saving opportunities of circa €3m

The European client was experiencing high levels of fraud on their debit portfolio.

Savantor was asked to conduct a Quality Assurance of the current situation to review the client’s tracking system set-up, processes and procedures, improve the strategic and tactical MI and identify any other improvements in Fraud Operations.

Savantor’s team undertook the following:

  • Existing rules were rewritten to more effectively identify fraud.
  • Fraud was marked on the tracking system to enhance MI capabilities and rule writing.
  • A new system was introduced to allow easier and proactive analysis.
  • Designed Rule performance reporting.
  • Designed Rule sensitivity reporting requirements.
  • Designed fraud data review reports process.

Geoff Durham, Executive Director at Savantor, explained how Savantor’s fraud control specialists were able to achieve significant savings and operational efficiencies.

"Systems and processes are now firmly in place to evolve rules pro-actively, implement rule performance reporting, use a fraud estimating system and upgrade IT support to first priority

Features of this assignment:

  • Fraud losses were reduced through enhanced rules performance, saving circa €250,000 per month.
  • Improved processes introduced for change management and rules review.
  • Subject matter experts were provided on site working closely with the client Fraud team to identify reduction in Fraud losses through enhanced rules performance and improved processes.
  • Systems and processes put in place to:

    - Evolve Rules pro-actively.

    - Implement rule performance reporting.

    - Upgrade IT support to Strategic and Important systems.

    - Use as fraud estimating system.

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Client Quotes

Moneris Solutions

"Savantor did an outstanding job of the review and I received nothing but positive feedback on the interaction with our management team."

Jeff Guthri, COO - Moneris Solutions - Canada

Complex Cards Business Transformation

"This was a major business transformation that required us to build an excellent team made up of internal bank specialists, supported by external card business, technical and operations expertise. Savantor provided specialists from the local market and with international experience to fill a variety of important roles. The Savantor resourcing team are professional, reliable and good people to work with."

Ricardo Gomez, Director - Operations & Technology - WiZink Bank - Spain

New Payments Initiative

"In moving our new initiative into reality, we required specialist payments knowledge and forward thinking in the retail sector. Savantor supplied this and provided very effective guidance throughout. We enjoyed working with them."

Sophie High, Head of Innovation Delivery - Cancer Research UK

Collections Transformation

"Savantor did an absolutely superb job for us on the Collections programme. The professionalism, hard work, courtesy and tenacity of their experts is a credit both to the individuals and to Savantor."

Peter O'Dea, Senior Manager - Collections Department - Permanent tsb bank - Ireland

Interchange Review

"Savantor did a superb job in confirming what we believed was an area of weakness. The detail we now have will enable us to agree internally what we need to do to improve structure, control and income. Nationwide management were very impressed with the quality of the Savantor team."

Adam Slater, Senior Manager - Banking - Nationwide Building Society - UK

Acquirer Strategy and Operating Model

"Savantor brought an effective blend of European acquirer market expertise and transaction processing solution design. Their experts quickly forged strong working relationships with our team. We enjoyed working with them to create our future acquirer strategy."

Mikko Hyttinen, SVP - Lending Services - OP-Pohjola Group - Finland

Acquirer Risk Assessment

"The expertise provided by Savantor has greatly helped us evaluate our risk position and to take the right steps in managing our future risks. Strong, disciplined planning and an ongoing willingness to work closely with our staff played an enormous part in making this a very successful well-delivered project which will greatly help us in achieving our business goals."

Mark Healy, Chief Risk Officer - NEOVIA Financial - UK

Issuer and Acquirer Transformation - Assessment and Mobilisation

"We were in urgent need of external independent expertise to supplement our internal resources. Senior consultants had to quickly integrate with a diverse team from across the bank and actively contribute. I am pleased to say that Savantor was able to deliver on our needs as well as being good people to do business with."

Lars Bostrom, Head of Cards - Nordea - Scandinavia

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