Case Study: a large regional financial institution virtually eliminates check fraud with ARGO OASIS

Virtually Eliminating Check Fraud

A large regional financial institution needed to improve first- and third-party fraud detection as transaction volumes grew and fraudsters shifted to harder-to-detect, repetitive small-deposit fraud tactics. The bank was spending significant time on false positives and manual reviews, and it wanted a solution that could analyze both transactions and images with minimal effort from staff. ARGO provided its OASIS™ (Optimized Assessment of Suspicious Items) platform to help address these challenges.

ARGO implemented OASIS for real-time transaction and image analysis, using behavior pattern recognition, image analytics, and machine learning to improve detection accuracy and reduce false positives. The project was completed on time and within budget, with a full install in eight weeks. Results included more than 4.8 million transactions analyzed per quarter, 350+ suspects reviewed per day, $1 million in fraudulent check items returned each quarter, and no check fraud losses to date.