Smart Campaign Manager - Fraud Detection

Industry: Financial Services Region: EMEA Technology: UC/Customer Care

Put the customer firstA large European bank sought to improve its customer experience and customer service rankings by proactively alerting customers of fraudulent detection earlier.Customer satisfaction has always been the central metric in gauging the bank’s operations. Yet, to continue serving customers in superior ways and stay ahead of the competition, the bank knew it needed to further invest in areas of high customer importance. After an initial analysis of the major opportunities for improvement, it decided it wanted to not only detect possible fraudulent charges but also immediately inform customers of any issue.Nip fraud in the budIn searching for a solution, the bank contacted Cisco, which helped to build a Smart Campaign Manager (SCM) – Fraud Transactions system to address the problem. Here’s how the SCM – Fraud Transactions system worked:

A third-party application receives a possible fraud transaction from a specific channel (i.e. ATM, Internet banking, mobile banking, etc.)

The application triggers SCM on the fly and opens the interface to pass all transaction information

SCM checks this information and creates an outbound call record, which is then linked to an IVR-based campaign

A Cisco Unified Contact Center Enterprise (CCE; or “Packaged CCE”) system triggers the IVR-based campaign to be executed and system interacts with customer via telephone

A customer can approve the transaction or decline it, and the result is sent to a third-party application

Because of the new solution, the bank saw an initial rise in costs, but gained its return on investment (ROI) back through improved customer retention and satisfaction.