CSG Customer Story

How a bank reduced fraud cases by 25% with real-time alerts across channels

25%

Reduction in legitimate fraud cases

46%

Reduction in average cost per call

12%

Reduction in inbound fraud-related customer contacts

95%

Customer satisfaction rating for the fraud experience

Summary

When customers’ purchases get flagged for potential fraud, timing is of the essence. Banks need to help their customers act quickly to protect their accounts, and with an easy process that builds trust—not frustration.

Learn how a bank reduced legitimate fraud cases by 25%—while earning a 95% customer satisfaction rating—with its multichannel fraud resolution program. The bank’s robust fraud experience helped protect more cardholders while vastly reducing costs.

The Customer

One of the largest banks in the U.S. It offers customers an array of channels to engage with it, as well as a variety of tools report and prevent fraud on their accounts.

The Challenge

The bank aimed to give customers a better experience when their purchases were flagged for potential fraud. Too often, it failed to provide customers clear, timely explanations for why their transactions got declined, and these frustrating incidents damaged the customer’s relationship with the bank. The bank sought the capability to proactively flag suspicious charges and provide resolution to cardholders in real time via text message or voice call.

The Solution

With CSG’s help, the bank used intelligent decisioning based on risk assessment to contact cardholders via voice and/or SMS. Voice calls used speech synthesis and recognition technologies to establish contact and screen transactions.

If fraud was suspected, calls were transferred to fraud agents, who then received context on the interactions. SMS notifications followed a similar verification path where the cardholder was notified and given an opportunity to verify a purchase, which helped ensure more of these legitimate transactions got completed rather than abandoned.

The automated notifications reduced the bank’s costs, increased revenue and allowed its fraud agents to focus on legitimate fraud threats.

Get critical security interactions right

CSG Xponent protects customer accounts by proactively minimizing fraud risk, reducing support costs, and strengthening customer trust.

Proactive Account Protection: Anticipate potential threats and alert customers instantly about off-pattern activity, preventing fraud before it happens.
Real-Time Security Notifications: Keep customers informed of suspicious login attempts, transaction activity, or account changes through their preferred channel (SMS, email, in-app).
Interactive Fraud Resolution: Empower customers with immediate response options to confirm or deny flagged transactions, reducing unnecessary account holds and frustration.

Discover CSG Xponent