Jumio
How a Flexible Rules Engine Helped a Bank Stop a Multi-State Fraud Attack
Summary
A bank was able to swiftly detect and block a coordinated, multi-state card fraud attack by leveraging a flexible, real-time rules engine. The rapid adaptation of fraud detection rules minimized finan...
Value Drivers
Challenges
- Coordinated fraud attacks exploiting gaps in chip card adoption and merchant readiness
- Lack of real-time visibility into operations
- Difficulty in scaling current infrastructure
- High operational costs due to legacy systems
3 more challenges available
Solutions
- Rapid deployment and adaptation of fraud detection rules using a flexible rules engine
- Deployed real-time monitoring and analytics platform
- Migrated to cloud-based scalable infrastructure
2 more solutions available
Outcomes
- Fraud losses were contained to $15,000, with an additional $20,000 in fraudulent transactions denied
- Achieved 24/7 real-time visibility and monitoring
- Successfully scaled operations to support 3x growth
- Decreased operational costs by 40% annually
3 more outcomes available
Products
Software
Jumio Rules Engine
A flexible, self-service platform for creating, editing, and tuning fraud detection rules in real time, with preconfigured templates and advanced analytics.
Target Organization
unknown
Description: A U.S. bank where the fraud strategy manager leveraged a rules engine to combat card fraud.
Industry:Banking, Financial Services