Flying Ahead of Online Fraud with ACI Fraud Management
Aegean Airlines, the largest airline in Greece and a Star Alliance member, connects Greece with 120 international destinations in 44 countries, and flies to 31 domestic airports. Since 2014, ACI and Aegean have worked in concert to vanquish high online fraud rates with a customized version of ACI’s online fraud prevention solution, including built-in case management functionality and a bespoke reporting module.
This solution has proven highly effective, especially during the recent COVID-19 outbreak, which saw Aegean facing an immediate decline in sales and an increase in chargebacks, disputes and fraud attempts.
OF CONFIRMED FRAUD DENIED
REDUCTION IN MANUAL REVIEW RATES
AVERAGE CHARGEBACK RATE
Aegean Air Sees International Sales and Online Fraud Skyrocket
Aegean Airlines is the largest airline in Greece. With 120 international destinations in 44 countries, as well as flights to 31 domestic airports, this Star Alliance member continues to attract an increasing number of international passengers. Unfortunately, with increased international traffic has also come an increased incidence of fraudulent transactions.
Highly Customized ACI Fraud Management Solution Grounds Fraud
To combat this trend, ACI worked closely with Aegean to implement a highly customized version of the ACI Fraud Management online fraud prevention solution. This move gave Aegean the ability to view key transaction trends quickly and easily and obtain other valuable information that helps to implement timely and effective rule changes where needed. Core to the new strategy was a focus on critical issues, such as consistently prioritizing short notice bookings in the fraud screening process.
Established Rules Stop 97% of Fraud
The first year of collaboration between ACI and Aegean Airlines yielded measurable results. Benefits include:
- An average of 97% of all confirmed fraud captured since go live, translating into savings of €3M
- Manual review rates reduced from 12% to less than 5% in the first year and currently standing at 3.4%
- Confirmed fraud rates now averaging less than 0.01%
Cost savings and efficiencies achieved have enabled Aegean Airlines to extend the solution to cover call center transactions without any additional resource requirements to support fraud screening.