S-Bank taps Worldline for real-time fraud detection and prevention

Supported by Worldline technology, S-Bank will deploy extensive real-time fraud detection for debit and credit cards whilst increasing the efficiency of its card fraud and risk management.

Convenience and safety

S-Bank has recognised the benefit of using Worldline’s fraud detection and reaction platform to detect and respond to fraudulent payments before they are even processed. With counterfeit fraud and face-to-face interactions decreasing, online fraud now represents 94% of overall fraud and has pushed fraudsters towards those channels, as per the press release. Financial institutions need innovative solutions to detect and respond to fraud in real-time.

Worldline Fraud Management Suite (FRAMS) covers all aspects of card fraud detection and prevention, incorporating artificial intelligence and rules modelling management, investigations, and fraud case handling.

Three tools developed by Worldline and adapted to S-Bank processing have been implemented:

• Worldline Pay Online Watcher: a real-time rules engine for front-office authorization declines;

• Extended Watcher: providing artificial intelligence and big data analysis including clearing and confirmed fraud cases, as well as for sending card blocking instructions to the back-office;

• Fraud Case Management tool: for case handling, investigations and call centre for cardholder interactions;

S-Bank’s position in Finland

S-Bank is a Finnish bank which aims to offer banking services that make life easier. As part of the S Group, they cater to 3.1 million customers in Finland. S-Bank wants to reshape the banking industry by offering ease and benefits working with the S Group in developing new services. By implementing the Fraud Management Suite, the bank can leverage the existing fraud protection expertise of Worldline and react to payments fraud in real time.

Officials from S-Bank stated that during the implementation process, they found common working methods and are pleased with the current co-operation with Worldline. They recognise that by implementing this Worldline FRAMS solution on top of our existing platform, we’re benefiting from the expertise and software that was developed in-house by Worldline, that is also used by financial institutions across the entire continent.”

Representatives from Worldline also commented that the successful integration of the Fraud Management Suite at S-Bank, a major player in the Finnish market, underlines the company’s increasing footprint in the Nordic region. With their solution, S-Bank can scale up without hesitation, at any given time. 

For more information about Worldline, please check out the company profile in The Paypers Company Database.