IBM Case Studies Smarter, more effective financial crime investigations with visual intelligence analysis

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	Smarter, more effective financial crime investigations with visual intelligence analysis IBM

Smarter, more effective financial crime investigations with visual intelligence analysis

IBM

Technology Category	Application Infrastructure & Middleware - Data Visualization
Applicable Industries	Finance & Insurance
Applicable Functions	Business Operation
Use Cases	Fraud Detection Visual Quality Detection
Services	Data Science Services
Challenge	Skipton Building Society, the UK’s fourth largest building society, was facing a constant battle against criminals who were using ever more sophisticated techniques to defraud institutions and their customers, launder money, and commit other types of financial crime. As the fraudsters got smarter, Skipton realized that it needed to innovate and turn to technology to help detect fraud attempts, minimize losses, prevent further exposure, identify culprits, and gather evidence to help law enforcement catch and prosecute them. Prior to the implementation of a new solution, Skipton’s analysts could spend days on complex investigations – trawling through spreadsheets, using pivot tables to try to spot patterns in the data, and drawing diagrams on paper to help them visualize and understand the relationships between suspicious transactions and potential fraudsters. Read More
About Customer	Skipton Building Society is the UK’s fourth largest building society, with GBP 17 billion in assets, over 820,000 members, and a national network of branches. Skipton’s financial crime department aims to be recognized as one of the most innovative, expert and effective in the UK banking sector. The department is relatively lean due to Skipton's focus on mortgages and savings, rather than more vulnerable products like credit cards and loans. The financial crime team is tasked with combating increasingly complex frauds, money laundering attempts and other financial crimes. Read More
Solution	Skipton’s financial crime team uses IBM i2 Analyst’s Notebook for visual intelligence analysis to reveal the connections between people, events and transactions. This helps to accelerate investigations and catch fraudsters faster. The solution eliminates hours of spreadsheet-based analysis by presenting data visually. Once Skipton’s analysts are confident that they have found evidence of wrongdoing, or identified a potential suspect, they can easily create simplified summary diagrams that can be output as part of a report, and shared with investigators and other stakeholders. The solution was easy to install and did not require a major IT project to get it up and running. Read More Log in to view content
Contents

Technology Category

Application Infrastructure & Middleware - Data Visualization

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Use Cases

Fraud Detection

Visual Quality Detection

Services

Data Science Services

Challenge

Skipton Building Society, the UK’s fourth largest building society, was facing a constant battle against criminals who were using ever more sophisticated techniques to defraud institutions and their customers, launder money, and commit other types of financial crime. As the fraudsters got smarter, Skipton realized that it needed to innovate and turn to technology to help detect fraud attempts, minimize losses, prevent further exposure, identify culprits, and gather evidence to help law enforcement catch and prosecute them. Prior to the implementation of a new solution, Skipton’s analysts could spend days on complex investigations – trawling through spreadsheets, using pivot tables to try to spot patterns in the data, and drawing diagrams on paper to help them visualize and understand the relationships between suspicious transactions and potential fraudsters.

About Customer

Skipton Building Society is the UK’s fourth largest building society, with GBP 17 billion in assets, over 820,000 members, and a national network of branches. Skipton’s financial crime department aims to be recognized as one of the most innovative, expert and effective in the UK banking sector. The department is relatively lean due to Skipton's focus on mortgages and savings, rather than more vulnerable products like credit cards and loans. The financial crime team is tasked with combating increasingly complex frauds, money laundering attempts and other financial crimes.

Solution

Skipton’s financial crime team uses IBM i2 Analyst’s Notebook for visual intelligence analysis to reveal the connections between people, events and transactions. This helps to accelerate investigations and catch fraudsters faster. The solution eliminates hours of spreadsheet-based analysis by presenting data visually. Once Skipton’s analysts are confident that they have found evidence of wrongdoing, or identified a potential suspect, they can easily create simplified summary diagrams that can be output as part of a report, and shared with investigators and other stakeholders. The solution was easy to install and did not require a major IT project to get it up and running.

Impact #1	Accelerates investigations by up to 80%, helping Skipton stop fraudsters faster
Impact #2	Eliminates hours of spreadsheet-based analysis by presenting data visually
Impact #3	Helps analysts tackle complex investigations without impacting business-as-usual

Impact #1

Accelerates investigations by up to 80%, helping Skipton stop fraudsters faster

Impact #2

Eliminates hours of spreadsheet-based analysis by presenting data visually

Impact #3

Helps analysts tackle complex investigations without impacting business-as-usual

Benefit #1	Accelerates investigations by up to 80%
Benefit #2	Eliminates hours of spreadsheet-based analysis

Benefit #1

Accelerates investigations by up to 80%

Benefit #2

Eliminates hours of spreadsheet-based analysis

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Overview

Smarter, more effective financial crime investigations with visual intelligence analysis

Operational Impact

Quantitative Benefit