Banking · Spain
Abanca. Money mule and SIM swapping, detected without impacting customer experience.
+8,000
employees
Banking
Sector
Fraud detection by behavior, location, and device
Deployment
The challenge
Abanca was facing growing complexity of banking fraud, with threats like money mule and SIM swapping difficult to detect with traditional systems. Lack of visibility into location, device and behavior limited real-time anomaly detection and made it hard to distinguish legitimate from fraudulent access in critical operations. Security needed to be strengthened without affecting the user experience.
The solution
Continuous analysis of user behavior incorporating location and device as identity factors. Every operation is scored in real time against the customer's usual places and the entity's rules, transparently for the end user.
Results
Detection of multiple fraud cases such as money mule and SIM swapping.
Real-time identification of anomalous access by behavior, location, and device.
Greater ability to distinguish between legitimate users and fraudulent activities.
Ironchip implements its product at a critical authentication point in a straightforward and cost-effective way, with a user experience difficult to find today.
Test the location-based fraud detection in your organization.
On your own operations and with your fraud team, before touching your customers' app.