Swedbank: Modernizing Card Fraud Management and Improving Customer Experience
Winner of Celent Model Risk Manager 2021 Award for Legacy and Ecosystem Transformation
Impending strong customer authentication (SCA) regulations had the potential to create friction for customers through two-factor authentication requirements for online and contactless payments. Swedbank, a leading issuer and acquirer in the Nordic and Baltic regions, combatted this by modernizing its existing fraud platform and reducing customer friction with machine learning-based transaction risk analysis that maximized allowable SCA exemptions.
See why Swedbank won the Celent Model Risk Manager Award for 2021:
- Reduced total gross fraud by 55%
- Implemented SCA exemptions for “card not present” in just seven months
- Delivered multi-country security using ACI Enterprise Payments Platform and ACI Fraud Management
- Reduced first-party fraud while optimizing the customer experience
Download the Swedbank Case Study for a fraud management use case.
