CASE STUDY

Risk and Fraud Analytics for a Banking Sector Client Helps Automate Data Analysis and Identify Risks

Oct 9, 2017

In the past few years, banking sectors across the world have undergone tremendous changes in the way they conduct their business and reach out to the target customers. In the present market scenario pertaining to the banking sector, risk analysis plays a major role in retaining profitability and customer satisfaction. Globally, banks are beginning to harness the power of risk analysis in order to derive utility across various spheres of their functioning and services offered, ranging from product cross-selling, reputational risk management, financial crime management, regulatory compliance management, and much more.

To efficiently design and automate data analytic methodologies the client approached Quantzig’s risk analysis experts. With years of expertise in offering a wide array of services Quantzig’s risk and fraud analytic services help firms in the banking sector better understand their client’s needs and offer effective insights to overcome the hurdles in the banking sector.

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The Business Challenge

A well-established banking firm with global presence was facing predicaments in analyzing its data and identifying the potential risks in the banking sector. The client wanted an effective approach to risk analysis based methodologies, monitor the transactions as they occur, and further analyze the data collected for potential fraud behavior.This, in turn, would help them cater to the needs of customers and provide better customer satisfaction; thereby, leading to long-term customer relationships.

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Fraud and Risk Analysis Solution Benefits

After gaining insights from our industry experts, the banking sector client could effectively manage risks and maximize ROI. Quantzig’s risk analysis based methodologies helped the banking firm automate data analysis methods and reduce their losses. The banking sector client was also able to leverage analytics to transform and innovate internally as well provide better services to their customers. Furthermore, the risk analysis methodology based insights provided by Quantzig helped the client gain better clarity on the potential risks of transactions.

 Fraud and Risk Analysis Predictive Insights

  • Help in recognizing patterns of fraudulent transactions
  • Increase in customer lifetime value (LTV)
  • Enables banking firms to conduct safe business with their valued customers while identifying and denying access to persistent fraudsters
  • Provide better customer service through effective risk management measures
  • Quick fraud-detection capabilities
  • Provides greater stability to financial systems
  • Increase in overall operational efficiency
  • Adopt increasingly sophisticated risk management practices
  • Prediction of future risks and take necessary business actions

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