Savantor, a leading consultancy in the card and payments market place, has again demonstrated its innovative approach to solutions with the launch of their Fraud Plus (F+) Service Line.
This service guides banks through critical fraud issues such as CNP and cross border fraud and delivers significant financial benefits.
Savantor has recently undertaken projects with major financial institutions utilising this new service, one involved savings of more than €5m per year with an investment of less than 0.3% of the projected return.
In particular, Savantor F+ assists customers in addressing increasing CNP and cross border fraud losses. In the current market with rising trends in fraud, organisations are being targeted at a time when they can ill-afford €multi-million fraud loss attacks.
Fraud has many touch points in a financial institution and it is through the detailed understanding of operations and process that Savantor is successful. A review will include current environment and processes, the use of technology, refinement of rule writing and scorecards, what-if scenarios, cost benefit analyses for change, and a review of the organisational focus, management and fraud accountabilities.
A significant component of Savantor's activity is to review a customer's fraud measurement and monitoring (Management Information) where there are often areas for improvement.
Rod Sharp, Business Development Director of Savantor Ltd said "Savantor is able to rapidly assist financial organisations to become more proactive and quicker in its response to the onslaught of the devious and manipulative criminals that are continually attacking the payment market in new ways."