Case Study: Large regional bank prevents $14.6M in potential fraud losses with Equifax InterConnect and Fraud Advisor

Equifax Helps Regional Bank Prevent $15 Million in Potential Fraud Losses

A large regional bank with more than $150 billion in assets needed to protect against fraud on direct and indirect loans without reducing loan approval rates. Its legacy loan platform only ran fraud checks after decisions were made, detecting fraud days later, and lacked flexible rules, external data access and effective reporting — creating a need for real‑time screening integrated with existing decisioning.

Equifax implemented InterConnect with Fraud Advisor and eIDcompare to perform real‑time fraud checks during the application process, using custom rules, an investigative worklist, multiple data sources, automated correspondence and Excel reporting. In the first full year the bank avoided $14.6 million in potentially fraudulent loans (net savings $14.2 million after costs), prevention now averages about $2 million per month, and investigators are able to focus on the highest‑risk cases after reviewing over 900,000 applications with nearly 700 confirmed frauds.