The challenge

Our client, a respected leader in the travel industry, recognized a disturbing vulnerability: A pattern of suspicious activity had emerged and yet sufficient resources were not allocated to authenticate transactions properly. This opened the door to fraud.

As a result of budgetary constraints, it was only the most flagrant transactions that were investigated. Adding insult to injury, authentication of suspicious activity was performed only during specific periods of time — and no verification took place at other times of day. Not only was the company exposed to risk of large losses, but numerous, undetected, low-value fraudulent activity threatened to “nickle-and-dime” our client and erode profitability.

Our solution

Our team assessed the client’s existing toolbox to establish which measures were working and identify gaps that needed to be closed. We deployed new tools and introduced efficient processes, which permitted more comprehensive coverage of transaction review and authentication.

A continuous loop of feedback was created to capture input from engineers and the product team on an ongoing basis, enabling us to spot troublesome trends as they were developing and mitigate losses before fraud activity snowballed. With this knowledge and insights, we refined fraud filters and algorithms continually. The greater visibility enabled us to optimize compliance standards and improve quality assurance guidelines and training.

The results

TTEC’s proactive, multidimensional approach to fraud management and prevention saved $91 million over 17 years’ time — producing a stunning 850% return on investment. In one year, alone, productivity soared 24%.