Case Study: Slovenská sporiteľňa reduces fraud and saves €1 million with ThreatMark AI-powered authentication

Slovenska Sporitelna saves €1 million yearly with ThreatMark

Slovenská sporiteľňa, a bank with over one million clients, was facing a challenge with its costly and disruptive SMS-based authentication system. The majority of legitimate users were unjustifiably bothered by one-time passwords at every login, and the method was not secure. To upgrade its business flow and enhance security, the bank partnered with vendor ThreatMark to implement their Anti-Fraud Suite (AFS).

ThreatMark's solution utilized AI to analyze device, behavioral biometrics, and contextual data in real-time, generating a risk score for each login. This allowed for frictionless authentication for low-risk sessions and strong authentication only when necessary. As a result, Slovenská sporiteľňa saved €1 million annually on SMS costs, reduced time spent on login by 50%, improved its threat detection rate by 70% versus competitors, and saw a 90% drop in false positives. ThreatMark's implementation provided full PSD2 compliance and a seamless user experience.

Slovenska Sporitelna