Case Study: Leading mortgage lender cuts online payment fraud and reduces time-to-contact from 90 to 4 minutes with FICO Customer Communication Services

Mortgage lender cuts online payment fraud with real-time authentication

A leading UK mortgage lender faced a spike in online payment fraud: transactions from regions without consumer password verification made up only 5% of sales but accounted for 30% of fraud losses. The lender’s challenge was to raise online fraud detection to the level of other payment methods while minimizing customer friction and operational cost.

The lender implemented FICO Customer Communication Services to interact in real time with its authentication and authorization systems, triggering alerts to block multi-channel attacks, prompting consumers to verify activity, and routing suspected fraud cases to analysts. The solution cut time-to-contact from 90 minutes to 4 minutes, with 65% of consumers responding within 15 minutes, enabling rapid authentication without live agents and delivering increased activity and reduced costs.