Momenta was required to work in conjunction with Retail Decisions Europe (ReD) and the PRISM system to deliver a fraud early warning service for one of the largest oil and gas companies in the world. Momenta provided a team of skilled resource, based in London HQ and initially undertook the transfer of activity provided in-house by the end client.
A skilled contingent team was implemented to create an early fraud detection service that flagged alerts raised from card activity, through the application of a series of rules that trigger alerts of suspicious card usage.
Momenta/ReD Fraud Analyst Activity:
The project lasted 3 years, the team verified in the region of 5,000-10,000 alerts per day worldwide and 90-120 of these were referred fraud cases. Resulting in significant cost reductions for the oil and gas company, due to faster fraud detection and an overall reduction in the number of fraudulent transactions. This was a direct result of the specialist team Momenta provided, strengthening processes, and driving efficiency.
A leading UK retail bank required urgent support in building training capability for a large-scale financial crime remediation project.
The client, a UK finance provider, needed complaints and collections agents to support their arrears team dealing with a backlog of complaints and increased call volumes.
An Australian Big 4 Bank experienced an increased need to engage with clients needing support due to challenging personal financial circumstances.