In the past, credit unions were considered somewhat immune to fraud because they are typically smaller than banks. But that is no longer the case.
The challenge
Due to rising levels of fraud across the industry, Coast Capital Savings wanted to find the right partner to further enhance its debit fraud detection and prevention processes.
The solution
What they found was a solution to help them be more proactive in identifying and preventing increasingly sophisticated types of fraud enterprise wide. Coast Capital Savings implemented ACI Proactive Risk Manager for Enterprise Risk in order to monitor all transactions in all of their banking channels.
The results
Coast Capital and ACI Worldwide implemented the solution in less than four months. The project finished ahead of schedule and below budget with a reduction in organizational debit fraud losses by more than 43 percent. They now were preventing fraud on average 10 times faster than before. Additionally, the savings from Proactive Risk Manager made it possible for Coast Capital to recover the project costs in just six months!
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