Case Study: Ikano Bank significantly reduces impersonation fraud with TransUnion TruValidate Device Risk

Ikano Bank UK Significantly Reduces Impersonation Fraud with Iovation device intelligence

Ikano Bank, a subsidiary of IKEA, needed to protect its fast and simple online personal loan service from rising impersonation and romance-fraud scams without adding friction for legitimate customers. The bank’s fraud team struggled with cookie matching and other traditional methods, which created false positives and made it hard to identify sophisticated fraud rings.

Ikano Bank implemented TransUnion’s TruValidate Device Risk solution to identify and score every device visiting its loan application page and track device associations over time. With TransUnion, Ikano Bank reduced impersonation fraud losses by 72% by the end of the first quarter after deployment, stopped almost all impersonation attempts within six months, and achieved an estimated 850% ROI over the first two quarters.

Ikano Bank

Eddie Vaughan

UK Fraud & Financial Crime Manager