Financial Services Client Story

One-Upping Banking Fraud

A large U.S. bank wanted to improve external fraud prevention and enhance the quality of fund transfers between accounts in the U.S. and Mexico.


drop in fraud instances

60 seconds

difference in <br />handle time

The Challenge

A bank is only as good as the security it can provide its customers. Fraudsters can infiltrate accounts through outside manipulation and tech savviness. Banks must strengthen their core to protect themselves from threats that can hurt customer’s livelihoods.

A large U.S. bank wanted to enhance the quality of fund transfers between accounts in the U.S. and Mexico. U.S-based associates lacked sufficient knowledge and training of the bank’s systems and the Spanish language to properly assist customers. This increased handle time and lowered customer service scores for U.S.-based associates. Also, the solution utilized by the client did not prevent fraudulent transactions.

Our solution

We created special systems training and workforce management strategies to enable more efficient call handling, in addition to hiring more Spanish-speaking associates based in Guadalajara, Mexico.

To address fraud concerns, we implemented additional verification processes in the money transfer process and analyzed customer account information to identify uncharacteristic transactions. We also applied additional reporting to track transactions at an associate level and limited associate ability to perform transactions without a customer on the phone.

The results

The more secure transaction process showed results quickly. When a bank makes itself accessible through multiple languages it helps create a frictionless customer experience by reducing communication barriers. And by encouraging an environment that fosters employee accountability, we ensured security from the inside. Our associates had a 60 second handle time difference compared to internal bank associates. And overall, there was a 75 percent drop in fraud instances, from 200 per month to just 50.


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