Omnichannel Fraud Prevention at a Retail Bank
In this ITN webinar, Bank of New Zealand talks about their experience when replacing their incumbent fraud prevention system with IBM Safer Payments.
In the video, Bank of New Zealand explains their journey replacing an incumbent fraud prevention solution with Safer Payments and how they achieved fraud loss reduction by 60%. This substantial monetary result is even more impressive as Bank of New Zealand -- at the same time -- was able to reduce their false positives by more than 4x. In absolute numbers, they reduced false positives from 1:5 to 1:1.15. Which is all the more impressive in a market where the average false positive rate is 1:12.
When the webinar moderator asked Bank of New Zealand "What was your happy surprise with Safer Payments?”, they responded with “It was how easy the project implementation actually was.”
