What they needed
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.
How we helped
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:
- Interrogated the rules to determine the reason for each alert being raised
- Looked for changes in customer spending by analysing the trends and a series of transactions
- A fraud score was calculated by PRISM, to assist the analyst in determining the likeliness of the fraud for each transaction
- If the alert looked suspicious, it was flagged with the Customer Service Centre to make contact with the card holder
- If transactions were confirmed by the customer to be fraudulent, they then submitted a claim form
- The analyst then received the claim form to block the card on PRISM and mark fraud the disputed transactions
- Once this was complete, savings were calculated by the analyst, dependent on the circumstances of the account type
