Case Study: North America's Largest Bank detects card fraud in real time and cuts false declines with Syniverse

North America Largest Bank - Customer Case Study

North America Largest Bank was facing rampant card fraud, suffering astronomical losses and mounting customer service demands to resolve fraudulent activity. To detect fraud in real time and protect revenue, the bank engaged Syniverse and its Syniverse Enterprise Mobile Messaging service to deliver urgent transaction alerts.

Syniverse implemented a fraud alert program that sent lightning-fast SMS messages prompting cardholders to confirm suspicious charges with a simple "yes" or "no." In the first month the bank delivered over 2 million alerts with an 80% response rate, dramatically reducing false declines and fraudulent transactions while keeping message costs to a fraction of a penny.