Case Study:
Cheltenham & Gloucester
Business Challenge
In challenging economic times, the investment that organisations make in fraud detection and prevention is under further scrutiny and needs to deliver a strong return on investment. C&G are committed to delivering continually better results and recognised that there were opportunities to streamline the fraud prevention operation and improve effectiveness and efficiency.
The Decision Analytics answer
C&G already works closely with Experian following the implementation of its Hunter fraud system and has a relationship that spans the Lloyds Banking Group. Experian worked in partnership with C&G to provide fraud analytics, consulting and training to support the team with its fraud review.
The Benefits
- Increased value of fraud detected by more than 100%
- Improved resource management, focusing effort while finding more fraud
- More effective detection of fraud producing lower quantities of referrals whilst capturing a higher propensity of frauds
- Enhanced use of value-added external data sources including accommodation addresses, saving £2.4 million of fraud in first week of changes
- Increased fraud volume by 36% with lower rate of false positives
- Tackling new fraud methodologies and trends to stay ahead of the fraudsters
- Truly collaborative project ensuring the success of the review and significant results
"The level of collaboration between my team and Experian allowed both teams to benefit from shared knowledge and ensured the success of the review. The fraud operation now makes the best use of our technology and people and the results have already been significant, doubling the value of fraud prevented.”