Case Study: Colombia's Largest Bank reduces fraud and friction with Buguroo

Reduce Fraud and Friction with an adaptative authentication process

Colombia’s Largest Bank, one of the country’s biggest financial institutions with more than 1,000 branches and 14 million users, was scaling its digital banking channels and needed stronger authentication without adding too much friction. As online and mobile usage grew, the bank needed to verify user identity, protect sessions from fraudsters and remote attacks, and support a smoother customer journey. It turned to Buguroo and its fraud prevention capabilities to improve multi-factor authentication security.

Buguroo implemented bugFraud across the bank’s retail and corporate platforms, using behavioral biometrics, device and environmental analysis, malware detection, and real-time risk scoring to create a CyberDNA profile for each user. This enabled the bank to apply adaptive authentication based on risk, reducing fraud, lowering friction, and improving the customer experience. The bank reported immediate benefits including a significant reduction in fraud risk, fewer password reset and SMS-related costs, increased perceived security, and better compliance with regulatory requirements.