Westpac New Zealand Gets Proactive in Fighting Fraud

Westpac New Zealand worked with ACI Worldwide to put in place a real-time fraud detection system that will span all lines of business and channels. Unlike systems that rely solely on a score, the bank’s anti-fraud solution combines predictive analytics and expertly defined rules for the fast, accurate and flexible response to changing fraud patterns in real-time.

The Challenge

With fraud growing in volume and complexity worldwide, Westpac New Zealand sought to become more proactive in identifying risks and protecting its customers.

The Solution

Westpac New Zealand worked with ACI Worldwide to put in place a real-time fraud detection system that will span all lines of business and channels.

The Results

Unlike systems that rely solely on a score, the bank’s anti-fraud solution combines predictive analytics and expertly defined rules for the fast, accurate and flexible response to changing fraud patterns in real time. As a result, Westpac has dramatically improved its ability to identify and neutralize new fraud schemes as they emerge.