News & Views - Savantor

Savantor launches innovative Fraud Service – Fraud Plus (F+)

Monday, 26 January 2009

Savantor's extensive experience underpins Fraud Plus (F+) Service Line focused on critical issues such as CNP and Cross Border fraud

Savantor, a leading consultancy in the card and payments market place, has again demonstrated its innovative approach to solutions with the launch of their Fraud Plus (F+) Service Line. This service guides banks through critical fraud issues such as CNP and cross border fraud and delivers significant financial benefits.

Savantor has recently undertaken projects with major financial institutions utilising this new service, one involved savings of more than €5m per year with an investment of less than 0.3% of the projected return.

In particular, Savantor F+ assists customers in addressing increasing CNP and cross border fraud losses. In the current market with rising trends in fraud, organisations are being targeted at a time when they can ill-afford €multi-million fraud loss attacks.

Fraud has many touch points in a financial institution and it is through the detailed understanding of operations and process that Savantor is successful. A review will include current environment and processes, the use of technology, refinement of rule writing and scorecards, what-if scenarios, cost benefit analyses for change, and a review of the organisational focus, management and fraud accountabilities.

A significant component of Savantor's activity is to review a customer's fraud measurement and monitoring (Management Information) where there are often areas for improvement.

Rod Sharp, Business Development Director of Savantor Ltd said "Savantor is able to rapidly assist financial organisations to become more proactive and quicker in its response to the onslaught of the devious and manipulative criminals that are continually attacking the payment market in new ways."

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Client Quotes

Payments Workshop Material

"Savantor helped ACI build a payments onboarding workshop for new technical staff in ACI EMEA. Their extensive experience took our outline and built a great starting presentation of industry facts that we have now customised further into a half day session that is used for all new joiners. Our Americas and APAC regions have also taken the material and customised it for their regions. A great job by Savantor has meant new joiners to ACI hit the ground running."

Richard Sanders, Principal Solution Consultant - ACI - Worldwide EMEA

Acquirer Transformation

"We needed a programme manager for a complex transformation who also brought a broad understanding to help stakeholders through the change. We have been delighted with the delivery and outcomes from this engagement with Savantor."

Michael Liquornik, Executive Vice President - Neovia Financial - UK

Platform Selection

"Savantor's support in our platform selection process has enabled us to sustain our profitability and positioning for the future. Their advice and guidance was essential to our decision-making."

Robert Lambert, Head of Cards Strategy - Permanent tsb bank - Ireland

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

Credit Risk Review for New Product Launch

"We needed expert help at short notice and Savantor were very impressive in their response and knowledge. The results were very clear and useful, enabling us to quickly make good progress on the next steps."

Sami Karhunen, Head of Business Intelligence and SME Sales - Point Transaction Systems Oy - Finland

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

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

Card Processing Migration

"Disciplined methodology and effective teamwork, guided by Savantor's migration expertise and operational knowledge, were the hallmarks that led to the resounding success of this project, enabling us to maintain and develop our business capability."

Robert Lambert, Head of Cards Strategy - Permanent tsb bank - Ireland

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