Case Study: Financial Services Company saves $5M annually with TransUnion iovation Fraud Prevention

Financial Services Company Saves $5m Annually With Iovation

The Financial Services Company, a leading developer of next-generation financial products for underbanked consumers, was struggling with sophisticated loan fraud that had been hidden inside its broader credit loss category. It turned to TransUnion’s iovation fraud prevention service to better identify fraud originating from mobile devices, stolen identities, and active fraud rings.

TransUnion implemented iovation’s real-time device reputation and fraud detection tools, allowing the company to share intelligence across devices and investigate suspicious activity more effectively. Within 20 minutes, an active fraud ring was stopped, and after full rollout the company reduced annual fraud losses by about $5 million, while also cutting manual review time and improving fraud team efficiency.