Bank of Ireland has been named a winner of the Celent Model Risk Manager Award 2026 for Fraud Prevention, recognizing an impactful fraud transformation. Delivered in partnership with Featurespace, a Visa Solution, the bank’s shift from reactive controls to real-time, AI-driven decisioning has produced standout results. By replacing legacy batch processing with Bank of Ireland has not only reduced fraud but continued to protect customers at speed and scale.
The newly published Celent case study, From Reactive to Proactive: Fraud Transformation at the Bank of Ireland, details how this transformation combined behavioral analytics, real-time payment intervention, and operational redesign to deliver measurable impact. Highlights include a 30% reduction in attempted fraud, 50% faster case handling, and $2 million in customer funds protected within the first 40 days of real-time payment controls going live. 1
"Most fraud technology programs start with a compliance problem and end with a compliance solution. Bank of Ireland started in the same place — PSD2 obligations, a legacy tool running out of runway — but ended up somewhere more interesting: a fraud operation that genuinely protects customers in real time and generates measurable competitive differentiation."
Neil KatkovPhD, Director, Risk at Celent
For banks seeking a fraud detection transformation or AI fraud detection case study, this work demonstrates what’s now possible with a real-time, customer-first approach powered by Visa.
1 Celent, From Reactive to Proactive: Fraud Transformation at the Bank of Ireland, June 2026.