Craftware utilized UiPath to automate the filtering of repetitive, low-complexity transactions, which reduced the workload of the client’s fraud detection team and improved global fraud prevention KPIs.This allowed the client’s team to focus on high-value tasks, ensuring more accurate and timely responses to fraudulent activity.
A major financial services company.
What was the challenge?
The client’s fraud detection team was overwhelmed with a growing volume of transactions to manually review for potential fraud, such as stolen identities and transaction patterns that matched predefined scenarios. As transaction volumes continued to rise, the manual process became unsustainable, increasing the risk of errors and delayed responses. The client, already using UiPath, turned to Craftware to design a solution that could automate the detection of low-complexity fraudulent transactions, improving overall efficiency.
Craftware thoroughly assessed the client’s existing automation infrastructure, ensuring that the necessary data, documents, and processes were in place. After completing the business analysis phase and obtaining operational security approvals, Craftware developed a proof of concept to demonstrate the potential benefits of automation. The solution was designed to automate the identification of high-frequency, low-complexity fraud cases, preventing them from reaching the client’s manual fraud detection team.
This solution was scaled to handle increasing transaction volumes, incorporating flexibility to adapt to new fraud patterns and regulatory requirements. By filtering out repeatable cases, Craftware allowed the client’s fraud team to focus on complex, high-risk cases requiring human judgment, improving response times and fraud detection accuracy.
- UiPath Platform
- Integration with Snowflake for data processing
- Integration with Slack to incorporate exception processing mechanisms
-
70% reduction in manual fraud detection workload
By automating the repetitive tasks, the client’s fraud team can focus on complex and high-value investigations.
-
24/7 fraud detection capabilities
Automation ensures constant monitoring, reducing the risk of missing fraudulent activity.
-
Scalability
The solution is designed to handle increasing transaction volumes, with the capacity to adapt to new fraud scenarios as the client expands their business into new markets.
- High Adoption and Processing Capacity: With a 24/7 uptime and a 90% adoption rate, currently between 50,000 and 100,000 transactions in a month are processed automatically. This ensures that potential fraud is identified in a timely manner.
- Human-in-the-loop for Critical Decisions: The integration with Slack allows the fraud detection team to intervene when necessary, ensuring that human analysts review high-risk cases. The process starts in Snowflake and adopts the human-in-the-loop approach through the out-of-the-box Slack integration.
- Scalability and Efficiency: The solution is designed to scale with the client’s growing transaction volumes while also preventing task duplication — an added benefit that has improved overall operational efficiency.
Read more about UiPath Robotic Process Automation
-
RPA (Robotic Process Automation) in customer onboarding
-
Optimizing processes for a Manufacturing Company with UiPath RPA: Automated QA for Better Efficiency
-
Setting Up the Pillars of an Automation-First Culture as We Migrate Our Client to UiPath
-
RPA Expert
