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Banking & Financial Services

Banking & Financial Services Case Study 1

Optimizing Fraud Detection for a Mid-Sized Financial Institution in North America

  • Background

    A mid-sized financial institution based in North America was facing challenges with their fraud detection processes. They were experiencing an increase in fraudulent activities across their online banking platform, which resulted in customer dissatisfaction and a loss of trust. The institution sought a solution that could enhance their fraud detection capabilities, reduce false positives, and ensure a seamless customer experience. Objective:

  • Objective

    To implement an AI-driven fraud detection solution that identifies suspicious transactions in real-time, minimizes customer disruption, and reduces operational costs.

  • Solution

    Corpshore Solutions integrated an AI-powered fraud detection system that utilized machine learning algorithms to analyze transaction patterns and detect anomalies in real-time. The solution was deployed across the institution’s online banking and mobile platforms, allowing for continuous monitoring of customer activity.

Key Features

  • AI-powered fraud detection with real-time monitoring
  • Behavioral analytics to identify unusual patterns
  • Automated risk scoring to prioritize high-risk transactions
  • Seamless integration with existing banking systems

KPIs & Metrics:

  • Fraud Detection Accuracy: Improved from 85% to 97%
  • False Positive Rate: Reduced by 30%
  • Customer Retention: Increased by 15% within the first six months
  • Cost Savings: Reduced operational costs related to fraud investigation by 25%

Outcome

The implementation of Corpshore’s AI-powered fraud detection solution led to a significant reduction in fraudulent activities across the financial institution’s platforms. The enhanced accuracy of the system reduced false positives, leading to fewer disruptions for legitimate customers. Overall, the bank saw a 30% reduction in fraud-related losses and improved customer satisfaction.

Get a free quote now!

Save up to 75% on operations & payroll costs today. Leverage Corpshore’s world-class in-house & remote staff, and accelerate growth and tangible results via outsourcing.

What to expect with a free quote request? 

  • Response within a few minutes to a maximum of 6 hours
  • Cost efficient pricing option(s) with an immediate call to action
  • Optional invitation to proceed with a 5 minute to 1-hour thorough discovery call based on your business needs
  • Fully outlined action plan with results guaranteed!

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Engage with our outsourcing specialists now. Book a call today Let’s discuss the following – and more:
  • Why you should outsource with Corpshore
  • Reasons why you should outsource to Corpshore’s nearshore, onshore & offshore destinations.
  • Why outsourcing is best for your business
  • Value and price: The critical difference
  • Building efficient and proactive nearshore, onshore, offshore & remote teams
  • Leveraging outsourcing with Corpshore to boost your competitive advantage and increase your market share

Get a free quote now!

Save up to 75% on operations & payroll costs today. Leverage Corpshore’s world-class in-house & remote staff, and accelerate growth and tangible results via outsourcing.

What to expect with a free quote request? 

  • Response within a few minutes to a maximum of 6 hours
  • Cost efficient pricing option(s) with an immediate call to action
  • Optional invitation to proceed with a 5 minute to 1-hour thorough discovery call based on your business needs
  • Fully outlined action plan with results guaranteed!