Anti-fraud solution for a leading bank in the Republic of Moldova
As a leader in the banking industry in the Republic of Moldova, the bank has reduced fraud and increased transaction security with IBM Safer Payments.
Project overview
Client: The leader in the banking sector of the Republic of Moldova, serving more than one million customers.
Solution: IBM Safer Payments implementation, an anti-fraud platform that uses artificial intelligence and machine learning to detect real-time fraudulent transactions.
The goal: to increase transaction security and reduce financial fraud losses.
Business objectives
The bank's mission was to prevent potential fraud and enhance the financial security of its customers. Main tasks:
- Reduce fraud and financial loss.
- Implement a multi-channel anti-fraud solution that works in real time and minimises transaction delays.
- Automate the detection of suspicious transactions and reduce false positives.
- Reduce the workload of the bank's analysts through intelligent data processing.
- The solution had to meet all regulatory requirements.
The solution
To address these challenges, the Solidity team implemented IBM Safer Payments with the following features in mind:
- AI and machine learning. The system adapts to new fraud schemes on its own.
- Real-time transaction analysis to minimise the time it takes to respond to threats.
- Integration with all available banking systems for maximum uptime.
- Advanced algorithms minimise false positives.
- Tailored to the specific requirements of the bank. We developed a unique structure and data processors to suit the specifics of the bank and its business processes.
Results
By implementing IBM Safer Payments, the bank was able to:
- Reduce financial fraud significantly.
- Accelerate transaction processing without compromising security.
- Automate analysis and reduce staff workload.
- Reduce false positive rates.
Prospects and development
After successful implementation, the bank plans to integrate IBM Safer Payments into other bank processes.
