Published on 31 May 2011
“ We are able to detect and respond to fraud far faster than before to protect our consumers as well as our global network of agents. We must remain ever vigilant in the face of more sophisticated financial fraudsters. ”
Ted Bridenstine, Systems Development Manager, MoneyGram International
Banking, Financial Markets
Alpine Consulting, Inc.
MoneyGram International has stopped more than US$37.7 million in fraud through its Global Compliance system based on IBM InfoSphere Identity Insight solutions.
With 230,000 locations in 190 countries MoneyGram International faced pressure to keep up with fraud and compliance regulations affecting the international business landscape.
Understanding who its clients are is helping MoneyGram International identify and stop fraudulent, unauthorized money transfers, thereby addressing a common problem for financial institutions worldwide. Using a powerful, algorithms-based software platform, MoneyGram International can quickly identify questionable patterns, proactively enact processing rules, and quickly become compliant with new regulations, preventing thousands of customers from losing funds to fraud.
-- Increased ability to identify and interrupt potentially fraudulent transactions by 40 percent -- Prevented thousands of customers from losing funds to fraud -- Stopped more than US$37.7 million in fraud -- Realized a 72 percent reduction in consumer fraud complaints in one year
IBM products and services that were used in this case study.
IBM Anonymous Resolution, InfoSphere DataStage, InfoSphere Global Name Recognition, InfoSphere Identity Insight, InfoSphere Information Server
Entity Analytics, Information Governance, Information Integration, Master Data Management, Smarter Planet
© Copyright IBM Corporation 2011 IBM Corporation Software Group Route 100 Somers, NY 10589 U.S.A. Produced in the United States of America May 2011 All Rights Reserved IBM, the IBM logo, ibm.com, Let’s build a smarter planet, smarter planet, the planet icons and InfoSphere are trademarks of International Business Machines Corporation in the United States, other countries or both. If these and other IBM trademarked terms are marked on their first occurrence in this information with a trademark symbol (® or ™), these symbols indicate U.S. registered or common law trademarks owned by IBM at the time this information was published. Such trademarks may also be registered or common law trademarks in other countries. A current list of IBM trademarks is available on the web at “Copyright and trademark information” at ibm.com/legal/copytrade.shtml Other company, product and service names may be trademarks or service marks of others. References in this publication to IBM products or services do not imply that IBM intends to make them available in all countries in which IBM operates. IMC14649-USEN-00