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

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

Expert Witness

"After searching extensively for the required industry expert in a complex litigation, Savantor was identified to have the necessary industry knowledge and expertise on a range of complex issues. Savantor provided clear advice and was able to quickly hone in on the key issues, but most importantly, generating pragmatic winnable answers."

Gavin Ingram, General Counsel & VP Strategic Planning - Global Blue - Asia Pacific

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

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

Commercial Card Migration

"Execution at its best. We're delighted that this project has been truly outstanding and received an award from 'The Banker'. Savantor provided crucial expertise that helped us keep all our promises in terms of delivery. The scheduling, planning and control regime throughout was excellent."

Chris Mason, Director - Commercial Cards EMEA - Citi - UK

Business and Platform Strategy

"Savantor successfully advised Rabobank during preparing of the platform migration for cards. Savantor demonstrated thorough knowledge of business processes and market players combined with a practical approach."

Evert Fekkes, Business Information Manager - Rabobank - Nederland

Credit Card Migration and Operational Support

"The bank has undergone significant transformation of its card business on both the issuing and acquiring sides. One business partner we have looked to for support in the areas of strategy, major project leadership, management analysis and ongoing business support is Savantor. The Savantor team has contributed to our success as we have leveraged their deep industry knowledge and broad range of operational skills."

Sean Sheehan, Service Management Director - Bank of 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

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