Use case: Automated fraud prevention investigations
Goal
Payoneer is a fintech company that provides business-to-business money transfers, digital payment services, working capital, and cross-border transactions in 200 countries and 150+ local currencies. Payoneer was looking to automate its case identification and investigation as well as the completion and submission of Suspicious Activity Reports (SAR).
Challenges
- Unnecessary time wasted with manual case identification and investigation
- Investigations took longer than needed with an inefficient and disconnected case management process
- Intensive employee intervention
- Manual data entry caused risks of inaccurate information
Solutions
- Built a case management application to reduce manual intervention and improve efficiencies
- Integrated the application with back-office systems
- Automated case identification, investigation, and SAR completion
- Enabled a detailed audit trail
Results
- Reduced handling time to investigate and submit SARs by 40%
- Better business and customer protection
- Limited risk and exposure to financial fraud
- Improved productivity by reducing manual intervention
