Transforming Fraud Screening With AI And Systematic Processes
DIGITAL PAYMENT SERVICE
At a glance
Industry
Retail
Challenge
Fraudulent orders flagged by the insurance company required a systematic approach. Challenges included inefficiency in manual communication, delays affecting customer confidence, and a growing backlog that strained resources, occasionally breaching the 24-hour first response time (FRT) target.
Success History
AI and macros revolutionized our fraud screening, cutting resolution time from 48 to 24 hours, eliminating backlogs, and boosting customer satisfaction from 75% to 90%. Streamlined workflows and AI-driven communication enhanced efficiency, trust, and speed, setting a new standard in fraud management while maintaining a 24-hour First Response Time (FRT).
Problem Statement:
For any e-commerce or online business, ensuring the legitimacy of transactions is a critical yet challenging task. Whenever an order is flagged for potential fraud, it triggers a manual screening process. Initially, our team relied heavily on manual communications with customers to verify their details, which was not only time-consuming but also inconsistent across scenarios. This manual approach often led to delays, inefficiencies, and occasional backlogs in flagged orders, potentially impacting customer trust and operational efficiency.
The Challenges
Fraudulent orders flagged by the insurance company needed a systematic approach for:
1.
Inefficiency
Manual customer communication required significant time and effort to resolve flagged orders.
2.
Customer Experience
3.
Operational Backlog
Our Solution
To overcome these challenges, we implemented a systematic, AI-driven approach to streamline our fraud screening process. First, we introduced macros for standardized communication by identifying all possible customer verification scenarios and creating predefined response templates. This ensured consistent, clear, and efficient communication tailored to specific customer needs. Next, we integrated AI into the helpdesk, training it with a repository of response templates designed to maintain a humane and reassuring tone.
This allowed the AI to provide secure and personalized interactions, encouraging customers to share necessary information with confidence. Lastly, we balanced automation with a human touch by enabling the AI to generate appropriate responses for common cases while escalating complex scenarios to human agents. This approach enhanced efficiency without compromising the customer experience
Business Outcomes
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Customer Satisfaction Scores Increased
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Average Case Resolution Time Dropped
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First Response Time (FRT)