Building a customer-centric approach to Fraud Prevention
HELD ON September 9, 2021

Building a customer-centric approach to Fraud Prevention

Group-IB, one of the leading providers of Cybersecurity solutions, has today revealed a new independent Forrester Consulting’s study on the impact of Group-IB’s Fraud Hunting Platform (FHP).

Forrester consultants analyzed the improvement in performance in a bank transitioning from a well-established solution to the Fraud Hunting platform. The solution performs real-time session and user behavior data analysis on web and mobile channels to help organizations accurately detect and efficiently prevent fraud.

This bank which services 10 million customers and over 6 million transactions a day, found that the organization experienced 130% ROI in 6 months by switching to the Fraud Hunting Platform (FHP). The study identified that Group-IB FHP generated significant operational cost savings by reducing false positives by 20-30% compared with the bank’s legacy solution.

Get the first episode of our BUILDING A CUSTOMER CENTRIC APPROACH TO FRAUD PREVENTION series and learn first hand why deploying a new fraud solution might be easier and more rewarding than you think.

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Results in numbers
  • Represents 10-20% more Fraud attempts blocked;

  • Cost savings in customer service, investigations, legal proceedings, reimbursements alone amount to $288K in benefits;

  • 20% reduction in false positives;

  • Requires 30% fewer OTP (formally SMS) for 2FA purposes.

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