The Challenge
In 2013, a prominent acquirer in the Baltics faced a significant challenge in combating acquiring fraud within their expansive merchant network. The prevalence of fraudulent activities, particularly within high-risk merchant categories and the gaming industry, posed a substantial threat to the integrity of their acquiring business.
In response to this pressing issue, our client sought to implement measures for preventing fraudulent transactions and evaluating merchant risks with precision. Recognizing the critical need for a reliable solution, the acquirer turned to D8. Our client chose D8 due to a proven track record in delivering real-time analytics and upholding an exceptional reputation for combatting acquiring fraud.
Solution We Offered
We offered StrongHold Fraud Prevention Platform – our premier solution for real-time onboarding and risk management of merchants and their transactions. StrongHold Fraud Prevention Platform has previously helped other clients of similar profiles to mitigate acquiring fraud risks.Â
Our client’s decision to collaborate with D8 was driven by the imperative requirement for an effective and comprehensive approach to mitigating acquiring fraud. StrongHold’s advanced capabilities in real-time analytics offered the acquirer the means to proactively identify and address potential instances of fraud. Â
Our client was experiencing fraud at several levels. First of all, there were a lot of fictitious business entities applying for acquiring services, so our client needed a reliable automated process to screen those applications. Second, our client was processing a high number of transactions, many of which were tied to the gambling businesses in grey jurisdictions, such as Malta and Cyprus. So our client needed a solution to tighten oversight and control over such activity.Â
Our established standing as a trusted partner in the realm of fraud prevention solidified our appeal as the preferred choice for our client. By leveraging D8’s expertise and technology, our client aimed to fortify their defenses against acquiring fraud. Our client also wanted to safeguard their operations from the detrimental impact of fraudulent transactions.
Our client sought to enhance their ability to assess merchant risks and implement targeted measures to prevent fraudulent activities. By harnessing the full power of our platform, our client aimed to instil greater confidence among their merchants while concurrently bolstering the security and reliability of their acquiring business.Â
The partnership with D8 signified a pivotal step towards fortifying our client’s resilience against acquiring fraud. Our client is committed to upholding the highest standards of integrity and security within the Baltic region’s merchant ecosystem.
The Results
- Launched a merchant automated screening process during onboarding
- Launched transaction scoring framework to flag any transactions meeting high-risk criteria
- Improved the quality of their acquiring services
- Contributed to creating more transparent financial services ecosystem
