Case Study: Service Credit Union cuts fraud losses by 70% with Unit21

Service Credit Union cuts fraud losses by 70% with Unit21

Service Credit Union, a credit union with 354,000 members, faced significant challenges with sophisticated account takeovers and a rigid legacy fraud detection system. Their previous vendor's solution provided only nightly batch alerts, lacked customization, and failed to flag fraudulent internal transfers, leading to 10-20 successful ATOs daily and millions in quarterly losses. They turned to Unit21 for its transaction monitoring and case management products to gain more control and flexibility.

By implementing Unit21's platform, Service Credit Union gained real-time data intake, customizable rules, and advanced data mapping. This solution enabled them to build targeted detection strategies, resulting in a 70% reduction in fraud losses, preventing over $1M in losses quarterly. Unit21 now detects 50% of fraud cases first and automated processes saved the manual effort of 2-3 full-time employees, drastically improving efficiency and response times.

Service Credit Union