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Increasing the effectiveness and efficiency of fraud detection for Bank Zachodni WBK

Bank Zachodni WBK S.A, one of the biggest banks in Poland, formed from the merger between Bank Zachodni and Wielkopolski Bank Kredytowy in 2001, have fully implemented a fraud detection system from Experian.

BZ WBK carried out a market evaluation and determined there were a number of suppliers of fraud prevention products. It chose Hunter from Experian following a successful proof of concept as it offered a specialist system that could be quickly implemented. In addition Hunter is already being widely used globally, meaning BZ WBK could benefit from Experian’s experience in other sectors and countries.

The Hunter solution is a web-based service to identify potentially fraudulent new subscriptions, which will enable the bank to detect and prevent fraud at the point of application, creating another barrier to prevent fraud. The automated Hunter solution is implemented in the online environment, is fully integrated and operates in real-time alongside the application processing solution. It works by checking for inconsistencies in each application and comparing the data against the integrated information store of previous applications. This ensures that Bank Zachodni WBK can match the application against previously verified applications and identify where an alias, false details or impersonation is being attempted.

“In the case of application fraud detection, the most important thing is to pass for detailed review only those applications the credibility of which are in doubt” said Dariusz Polaczyk, Director of Fraud Prevention and Detection Departmentat BZ WBK. “Hunter has enabled us to do exactly that, effectively identify only those suspicious applications and efficiently investigate and deal with them.”

“We chose Experian, not just because it could offer a mature, but constantly optimised solution but also because Experian can offer the experience and expertise of a global system being used around the world. Hunter has met our expectations, delivering our objectives of reduced fraud losses and operational efficiencies. The fraud detection process implemented in Hunter allowed detection of more than 90% of fraud attempts during the first year of using the system.”

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