The Fraud team at a Financial Services company were under pressure to reduce burgeoning fraud losses. The Head of Fraud had committed to deliver a scalable and cost effective business process that automatically contacted customers when suspicious activity was detected on their debit card. The team knew they could reduce fraud losses significantly if they could scale the business process to deal with a larger number of suspicious card transactions, however, the existing manual process was expensive and difficult to scale due to the high dependency on call centre staff.
When the Head of Fraud contacted the IT department to automate the process they discovered that it would take approximately 12 months to deliver a solution based on strategic technology standards, even with just the minimum possible requirements. A solution was designed using a Fast Track Integration technology to automate the parts of the process that were currently manually intensive or required large numbers of staff; the Fast Track solution took 8 weeks to implement and cost around £100k. The Head of Card Fraud kept their commitment of a multiple million pound reduction in fraud losses within the required time scale and had the benefit of a scalable, sustainable and flexible automated business process.Two years after implementation the Fast Track system was replaced by a solution based on strategic technology. The strategic project benefited from the knowledge and experience gained from the Fast Track solution including re-use of some components; this significantly reduced the risk and cost of the replacement system implementation.
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