In 2016, one of Canada’s top North American banks was assessing operational tactics necessary to stay ahead of rapidly increasing fraud-related claims. Recent growth via acquisition had created a complex operating model that made strategic execution a challenge. We are helping our clients improve operations efficiency to respond to growing demand.
Fraud claims were increasing by more than 40% annually across 14 different fraud types.
Operational process differences between Canada and the USA, disparate systems and role types made implementing innovative solutions difficult.
Tactical operating problems took executive focus away from setting clear strategies to stay ahead of fraud growth and complexity.
Canadian and USA-based Fraud Operations teams leveraged different operating models – processes, roles, IT systems and resourcing models.
Lack of common process and yield-based metrics reporting made it difficult to assess where and how to apply business improvements.
The one common solution to combat fraud claims growth was to increase resources across the operation.
A North America-wide operating model based on four process engines provided a base for common resourcing, roles, systems and metrics reporting.
The common operating model allowed for resources to be balanced by systems and clear targeting of high growth fraud types. Current headcount levels could be maintained to handle projected fraud growth over three years.
The process-based management system, common operating model and reporting freed executive time to focus on fighting fraud growth.
In 60 minutes we can show you how AO will transform your team and your leadership thanks to unmatched insight into your operations and foresight into the future.
CONTACT US
