News & Views - Savantor

Savantor launches Fraud Plus (F+)

Monday, 16 February 2009

One area that doesn't seem to be affected by the recession is fraud. Banks are trying to come up with new ideas to combat the fraudsters such as HSBC looking to deploy a system that will analyse every credit card transaction in flight and Handelsbanken's card locking system. Help is also at hand from Savantor who have an 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.

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Client Quotes

Card Migration

"I was impressed by the speed with which the Savantor team were able to start delivering and as a team they have made a significant contribution to the success of the Programme."

Bjorn Niels, Programme Director - ABN AMRO Bank - The Netherland

Acquiring market insight and strategy review

"Savantor brought an independent perspective and valuable insight that enabled Rabobank to ratify options for delivery and future growth and make informed business decisions in support of our target business model. Having used Savantor on a number of strategic projects, we have no hesitation in recommending their services to others."

Evert R Fekkes, SVP Payment & Savings Services - Rabobank - Nederland

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

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

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

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

Acquirer Specialist Support

"OP-Pohjola Group has used Savantors help in numerous different specialist projects differing from risk assessment to management tool creation to transaction analysis. We have been very satisfied by the quality of the service provided by Savantor's experts."

Kai Lindstrom, Head of Acquiring - OP-Services Ltd - 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

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