Welcome to this exciting case study where we will take a look at how our team helped Europe's biggest travel company save over 2 million euros per year with a fraud monitoring suite.
Our client was facing a challenging problem - losing over 2 million euros per year on stolen credit card transactions, with buying insurance not being a financially viable alternative as it cost around the same amount.
So, what did we do?
We analyzed the customer's data, looking for relations between fraudulent transactions such as IP addresses, credit card information, travelers' names, cookie information, device fingerprints, and location data. We then produced a graph of all transactions in the database and invented a metric to calculate fraud probability for each new transaction that entered the graph.
The final product was a desktop and web application that displayed suspicious transactions to be processed by a human operator, who could cancel a booking or request additional documents from the customer. Just two months after launching the product, the fraud rate dropped to 1% of its previous value (from 2% of total turnover to less than 0.02%)!
What's even better is that all the processing was done without any additional server or cloud cost, using the company's existing infrastructure.
We're thrilled to have been able to help Europe's biggest travel company save such a significant amount of money with our fraud monitoring suite. Thank you for reading, and stay tuned for more exciting case studies from our team!