Challenge
Founded in the late 19th century, PTSB is an established provider of a range of services and products including current accounts, retail/corporate deposits, residential mortgages, term loans, credit cards, overdrafts and SME lending.
PTSB considers itself to be one of Ireland’s leading financial services organizations. With in-house expertise, PTSB boasts low fraud rates on card-not-present transactions.
To align to PSD2 fraud monitoring requirements and further strengthen their anti-fraud strategy, PTSB wanted a system to provide detection of fraud in real time, while enhancing their customers’ experience and security.
Solution
PTSB partnered with Featurespace to deliver fraud detection, by automating fraud detection and integrating their complex sets of data. The Featurespace Platform quickly analyzed customers’ payment journey and more accurately predicted individual behavior in real time, even as underlying behavior changes.
“The Featurespace Platform has been a huge success within the organization and we look forward to continuously building out the platform and our relationship with Featurespace.”
Dave ByrneFraud Technology Manager, Permanent TSB
PTSB results
- Reduction in false positives
- Increased operational efficiency: AMDL enables custom rule writing in non-code environment
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