A leading financial products provider in Mexico required a state-of-the-art application fraud solution
About
Cetelem is the major commercial brand of BNP Paribas Personal Finance
Company size
10,001+ employees
Industry
Financial Services
Location
USA
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Cetelem, a subsidiary of the BNP Paribas Group, was seeking a fraud solution to reduce fraud in consumer auto loans.
The company selected GBG Instinct to provide a user-friendly, automated and versatile solution.
The challenge
Cetelem is a subsidiary of the leading global personal finance provider BNP Paribas Personal Finance.
The company provides financial products for auto (car and motorbike) purchased by consumers in Mexico.
The company was looking to reduce and prevent frauds and was seeking a solution that could achieve four objectives:
- Enable the company to investigate different types of current and emerging fraud (including document alterations and identity theft)
- Maintain business rules dynamically, quickly and easily, without the need to use scarce internal IT resources
- Provide scorecards to profile fraud types and trends across loan applications
- Improve and automate fraud processes, allowing internal staff to concentrate on investigations and alerts
Working with GBG is quick, easy and safe.
The solution
GBG provided GBG Instinct, an automated fraud detection and prevention solution, with user-configurable business rules, automation, scorecard and alert parameters.
GBG Instinct is a fraud detection, risk and compliance management solution that offers the flexibility to upscale with advanced capabilities for a future-proof approach to guard against complex fraud typologies and financial crimes. GBG Instinct delivers a frictionless customer experience across all the company’s sales channels.
GBG was already providing the parent company BNP Paribas Personal Finance with GBG Instinct. It demonstrated its ability to identify and reduce fraud losses for the company in Mexico, with a Proof of Concept trial run project.
50%
Improved productivity for fraud investigation teams with increased levels of automation led to a reduction in losses of 50% between 2019 and 2020.
The outcome
GBG Instinct delivered significant benefits to enable the company to meet and exceed its objectives, including:
- The ability to detect a wide range of fraud types across its partner and online sales channels
- Reduction in losses of 50% between 2019 and 2020
- Rapid and easy configuration of rules, including the ability to trial rules in a shadow environment before their implementation in production
- The ability to generate graphic scorecards to demonstrate fraud levels and trends
- Improved productivity for fraud investigation teams with increased levels of automation