CUSTOMER: Axcess Financial
HEADQUARTERS: Cincinnati, Ohio
LOCATIONS: > 1200, 32 States
APPLICATION: Solink Enterprise Risk Management (ERM)
Case Study Highlights
Intuitive Workflow Engine
- Solink offers an easy-to-use tool for real-time search, drill-down, and reports.
- Increased auditing capacity of high priority loans by a factor of 10
- Preloaded dashboards with high priority reports reducing the need for manual review.
Improved Investigation Efficiency
- The length of fraud investigations is reduced by up to 40%
- Solink’s ERM application reduces fraud exposure by up to 81%
- Multiple data visualizations help investigators identify fraudulent activity.
Axcess Financial is a respected leader in the financial services industry. They empower consumers and businesses with financial solutions that are convenient and approachable. The products and services they provide are easy to understand and available to consumers through both retail and online channels. These financial products improve consumers’ financial situations by meeting their lifestyle and budgetary needs.US financial operations consist of more than 1200 locations with brands of Check N Go and Allied Cash Advance. These institutions process thousands of daily transactions and within these transactions, a % of Debt (Shrink) occurs that is attributed to internal dishonesty. To focus on debt (Shrink) reduction, their Risk Department needed an easy-to-use application that would proactively identify and slow down the pace of internal fraud.
“Solink allows us to quickly identify suspicious activity both from an internal and external perspective. Having this tool gives us the ability to mitigate fraud and increase investigative productivity.”
– Aaron Rogers, Director of Risk Services
Solution: Making Video Data Actionable
The Solink Enterprise Risk Management (ERM) application leverages recorded video and transaction data to automatically identify high priority events, such as “phantom transactions“, in real-time. Solink ERM automatically generates individual risk scores for all Axcess Financial employees enabling the Risk Team to target cases with the highest priority. Solink ERM offers an easy-to-use tool for real-time search, drill-down, and reporting. Members of the Risk Team are able to access a preloaded dashboard with high priority reports reducing the need for manual review.
Results: Event-Driven Fraud Detection
Solink’s event-driven application greatly reduces the time needed for conducting investigations and manually auditing transactions. The time saved increases the fraud teams’ capacity for auditing high priority loans by a factor of ten. With risk scores automatically assigned, the Risk Team is able to identify fraud 40% faster, reducing exposure to internal fraud by up to 81%.