Case Study: Nation’s Largest Bank Stops Fraud in Its Tracks with CSG Interactive Messaging

CSG Interactive Messaging Solution Enables Bank to Alert Customers to Potential Fraud

One of the nation’s largest banks needed a better way to reduce credit card fraud and proactively alert customers about suspicious activity. The bank wanted to prescreen transactions in near real time, notify cardholders quickly, and lower the cost and effort associated with handling fraud cases. To help address this challenge, the bank turned to CSG International and its CSG Interactive Messaging solution.

CSG International implemented automated fraud verification and notification workflows using voice and SMS, with speech recognition, voice synthesis, and IVR to confirm suspicious transactions or route cases to fraud agents. The results were strong: the bank supports 1.5 million transactions, 2.5 million SMS messages, and 500,000 proactive calls per month, while 25 percent of alerted consumers confirm fraud, average call costs dropped 46 percent, inbound calls fell 12 percent, and customer satisfaction reached 95 percent.