First Tech Federal Credit Union is the 12th largest credit union (by asset size) in the United States and has grown into a forward-thinking financial institution serving over 700,000 members from the world’s leading technology companies. With a history rooted in innovation, First Tech partners with more than 900 firms, including tech giants like Microsoft, Amazon, Google, and Intel.
First Tech’s fraud prevention strategy faced many challenges that necessitated a comprehensive transformation. The existing fraud monitoring system was creating operational inefficiencies, leaving the credit union vulnerable to new sophisticated fraud risks. Recognizing that its high-tech members expect the highest standards of security, First Tech made a strategic decision to implement the Featurespace ARIC Risk Hub as their enterprise-wide fraud prevention solution.
First Tech implemented a strategic, phased approach to enhance fraud prevention across all payment channels. The initiative began with the development of adaptive rules and transitioned into advanced machine learning models, implementing Adaptive Behavioral Analytics (ABA) to create unique behavioral profiles for each member.
This strategy not only improved First Tech’s ability to identify and prevent fraudulent activities but also optimized their fraud management processes, resulting in substantial financial savings and enhanced member protection.
We helped First Tech Federal Credit Union catch a major ATM fraud ring after implementing our ARIC Risk Hub and adaptive rules. They were so thrilled, they made ‘Arrest Fest’ t-shirts to celebrate the 32 identified suspects and 7 arrests! Thanks to our technology, we didn’t just stop fraud – we helped put real handcuffs on real criminals, protecting First Tech’s members and other financial institutions from an emerging threat.
Download Case Study