Case Study: Large Global Bank reduces ATM fraud losses with ThetaRay

Large Global Bank - Customer Case Study

A large global bank faced escalating ATM losses across more than 2,000 endpoints, driven by sophisticated and evolving attacks that its existing fraud detection and forensic tools could not explain or stop. The bank also struggled with siloed, inconsistent ATM data and an inability to identify the methods behind the losses. ThetaRay was brought in to help uncover abnormal activity across ATM operations, security, and transaction data.

ThetaRay deployed its on-premise hyper-dimensional big data analytics and unsupervised machine learning platform to analyze ATM access logs and transactions without rules or prior labels. Within days, ThetaRay identified previously unknown fraud, operational malfunctions, data integrity issues, and customer service opportunities, including man-in-the-middle attacks, jackpotting, cloned card usage, and malicious code injection. The solution delivered actionable forensic insight in hours instead of weeks, improved detection accuracy with a low false positive rate, and supported a global rollout after the initial phase.