Fraud Management

Flexy is used by a fast growing bank's fraud team to automate the entire case workflow

The bank's fraud department had a manual process for fraud investigation. The team used to get alerts from internal monitoring system as well as employees about suspected and attempted fraud. A process had also been defined on how to handle these manually, but without a system this was being managed using excel files and emails. It was also proving to be very difficult to track losses and trends.

"Getting to know the current status of a case which has moved from one team to another was a nightmare"

Flexy to the Rescue!

A Flexy workflow was set up such that based on type of fraud and value, the workflow would take the case through different departments and seniority until the case was closed. The Fraud database would be searchable based on source of fraud, type of fraud, current stage and other parameters. Reports could be generated on click of a button to send to law enforcement agencies.

Dashboards were defined to track trends and losses along with automated case assignment and escalations. And all of this was achieved within couple of weeks. Needless to say there were some very unhappy fraudsters out there!