How Go-Ahead protected themselves from an additional £4million in fraudulent payments
Go-Ahead, a transport company with 38 years’ experience in the bus and rail industry, was incurring costs and seeing a reduction in conversion rates as a result of fraudulent activity.
Our award-winning identity and fraud management suite features a powerful real-time rules engine, with an intuitive, user-friendly interface for organisations to build payment acceptance rules which meet their risk appetite at any time. This, combined with the thousands of unique data points available, exposes suspicious behaviour early for global intelligence gathering, social media analysis, know your customer (KYC), anti-money laundering (AML) and enhanced identity verification (ID&V).
Easy integration and implementation
The integration required limited API coding changes and rules could be generated and activated seamlessly. The fact that our anti-fraud solution also offers the ability to set production rules into a live test mode offered Go-Ahead greater control - they could allow the analytics to run on their live transactions volume without having a bearing on transaction authorisations.
The impact – significantly reduced fraud and chargebacks
The flexible, powerful rules engine makes fraud detection easier and has led to a significant drop in chargeback levels. Debs Mayne explains: “Since using Optimize, our chargeback levels have reduced by £3-4,000 per month on average below the previous threshold.”
In the first year there was an increase in declined fraud across both Govia Thameslink Railway (GTR) and Southeastern of almost £4 million pounds compared to previously. And in just four weeks, Go-Ahead managed to prevent an additional £190,000 in fraudulent transactions for Govia Thameslink Railway (GTR) compared to previously, representing an increase in stopped fraud of 27.6% for the period. Southeastern saw an increase in prevented fraudulent transactions of over £75,000 for the same period, an increase of 28.3%.