Issue Fraud had started to emerge as a major issue for this global financial services company. Whilst improved security features had slowed the increase in fraud, they were looking to see how their database can help.
Solution By combining transactional data and raw census data, we were able to identify small geographical areas, where fraud was significantly higher than the norm. We then modeled this data across the country, and were able to flag those households where fraud was more likely to be an issue.
Results By changing their approach to delivering customer service in high risk fraud areas, the client was able to reduce fraud in certain geographic areas by over 12%.
