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In our continued efforts to optimize our fraud and risk strategies, ARIC Risk Hub’s ability allows us to adapt to and detect new fraud and suspicious activity in real time.
NatWest, the fourth largest UK bank in terms of total assets and with around 19 million customers, is fulfilling a vision to protect their customers from the exponential threats of financial crime. As the bank works to facilitate greater control over the access and movement of money for its customers, the systems must be able to instantly determine if activity is genuine so that the high level of convenience customer expect, is matched by uncompromising security standards.
Completing an enterprise-wide deployment, the ARIC Risk Hub’s ability to detect and reduce third-party fraud losses and prevent overall fraud before the point of payment, surpassed expectations. NatWest saw an increase in the value of fraud and scams detected including an immediate decrease in false positive rates (genuine customer activity declined), within just 24 hours of deploying ARIC Risk Hub.
2020 saw NatWest Group release their 2019 Results & Investor Update, listing Featurespace as a “strong partner” as part of its ongoing strategies. The results of the enterprise wide ARIC Risk Hub deployment has recently elevated NatWest as winners of the “Best Security and Anti-Fraud Development” at The Card & Payments Awards 2021.
