A financial institution sought to expand its business by launching a new consumer product. With an ambitious timetable, the client determined that it needed Bridgeforce expertise to confirm whether its fraud defenses would be effective enough for the new product.
The client needed to quickly develop its new fraud defense strategy and create the inhouse culture of fraud awareness for success.
Bridgeforce deployed a handful of seasoned experts (former fraud, compliance, collections and risk management executives), whose knowledge of consumer fraud surfaced key risk areas the client needed to address, especially around its control and support processes.
Working shoulder-to-shoulder with the client’s Chief Risk Officer, fraud executives, and other business leaders, Bridgeforce developed multiple solutions tailored to the client’s need for a comprehensive, fraud mitigation strategy. The team also collaborated with the client’s senior leadership to develop a change management program that ensured team members learned about, and embraced, the commitment to its new fraud initiatives.
Knowing that the industry standard for establishing an effective fraud operation for a new business line can take more than a year, the client hired Bridgeforce for its seasoned experts and reputation as hands-on, results-driven consultancy known for uncompromising client satisfaction and speed.
Bridgeforce could solidly meet the challenge to: