Business Transformation Services
Knocking out the fraudsters with analytics
Jon Cushing, Director of Fraud Prevention at a US-based retail company, oversees fraud management across its in-store and e-commerce channels. However, his legacy fraud detection mechanisms lacked efficiency in the face of complex, new fraud vectors and extensive policy misuse by employees as well as customers. This case details how Infosys BPM deployed an enhanced, omnichannel fraud detection system with transaction monitoring, live alerts, and proactive fraud analytics systems, leading to point-of-sale fraud recoveries worth over $400k and $2.5 Mn in annualised savings.
Approach summary:
- Configured an enhanced fraud detection tool with tailored rules
- Added reactive and proactive fraud analytics solutions
- Set up dashboards with ability to spot anomalies
- Introduced alert management and recommendation systems
- Collaborated with local investigation teams for point-of-sale (POS) investigation
- $2.5 Mn worth annualised savings
- False positive rate reduced to 0.08%
- Review rate decreased by 65%
- POS fraud recovered worth over $400k
- Chargeback rate reduced to 0.04%
