Case Studies

Improving fraud detection processes

Challenger bank, Metro, was rigorous in enforcing its fraud detection rules. In a rapid growth phase it was important improve its existing process further to ensure it could catch and hold payments that could be potentially fraudulent


PROBLEM

Identification of fraudulent activity

Metro Bank was exploring new ways to improve its fraud detection process. It required a solution that rigorously enforced detection rules but which also took into account the rapid growth of the company and which could respond to the inevitable changes that growth would create.

Metro Bank was clear it needed a system that would implement a host of flexible and configurable rules to determine if payments should be held for investigation, giving them a baseline set of rules across all payment types.

SOLUTION

Flexible checking system

Metro Bank selected Xceptor to provide a checking system to catch and hold payments that were determined to be potentially fraudulent.

• A payment scoring rules system, alongside data on individual payment limits and a full transaction history were loaded into the Xceptor system to act as the reference system for the payment decision point

• New payment data was captured in the form of a customised MT103 SWIFT container. Once the payment enters the system, Xceptor immediately calculates the payment score through the application of business rules

• If the score is above the threshold, it is flagged by Metro Bank and Xceptor holds the payment and initiates a workflow by notifying the Payments Team, who will investigate and either cancel or approve the payment

BENEFITS

• Improved fraud detection - The rules enforced by Xceptor have improved fraud detection and limited the number of fraudulent payments

• Responsive to new fraud - Xceptor allows the scoring rules to be refined and improved by the payments team, enabling Metro Bank to respond quickly to limit new types of fraudulent activity

• Fully auditable - All data processed and the resulting action on that data is captured within Xceptor for audit purposes

• Management reports - Xceptor automatically creates a number of different management reports to provide a high-level operational overview of the fraud detection system


We are delighted to be working with Xceptor in enhancing our ability to detect fraus and provide an even more secure service for our customers.

Aisling Kane

Chief Operations Officer, Metro Bank


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