High-flying Travel Agency Increases Revenue with Better Fraud Prevention
How a Leading Travel Company Achieved 30% Fraud Reduction with FraudNet's AI-Powered Solution
Fareportal
Fareportal’s unique hybrid business model bridges the gap between an online travel agency and a traditional travel agency by providing a convenient online booking capability as well as a 24/7 personalized trip booking experience arranged by hundreds of trained and certified travel agents in multiple countries and in multiple languages.
Navigating a Complex Fraud Landscape
A leading online travel agency with billions in bookings and customers in nearly 200 countries faced significant challenges in their fraud prevention strategy. Their existing system was limiting global expansion into high-risk regions, struggling with increasingly sophisticated fraud techniques, and creating an overwhelming caseload for their review team.
Additionally, valuable third-party data was trapped in separate silos, preventing a unified view of customer risk. Without an advanced fraud detection system, they risked continued revenue loss and operational inefficiency.
Machine Learning and Targeted Models
With FraudNet's enterprise fraud detection platform in place, the travel company transformed their approach to financial security. Here's how the system revolutionized their fraud detection:
Real-Time Transaction Monitoring
The platform enabled continuous monitoring of all transactions, analyzing patterns across millions of data points simultaneously. This comprehensive surveillance ensured no suspicious activity went undetected while maintaining seamless processing of legitimate transactions.
Automated Alert Management
The system significantly reduced manual intervention requirements while improving detection precision. This automation allowed the security team to shift from reactive alert processing to strategic investigation of high-risk transactions.
Intelligent Risk Scoring
The platform implemented real-time risk scoring with tailored rules designed to dynamically adapt to evolving fraud techniques. This intelligent alert triage method prioritized potential threats based on risk level, enabling efficient resource allocation.
Advanced Machine Learning Models
FraudNet developed sophisticated, custom machine-learning models that went beyond traditional rule-based systems. These models analyzed transaction patterns and user behavior to identify genuine fraud risks with unprecedented accuracy.
90-Day Performance
FraudNet's solution delivered immediate and substantial business value across multiple key metrics:
Fraud.net’s solutions and teams far surpassed our expectations, delivering tangible value within 90 days. We gained $100mm in new sales, reduced fraud by 30%, and enabled our team to operate more effectively and efficiently. Their platform is indispensable. And their 3rd party data integration simplified reviews, leading to valuable savings in time and money. Their expertise is unmatched.
Senior Vice-President, Fareportal
Fraud.net’s solutions and teams far surpassed our expectations, delivering tangible value within 90 days. We gained $100mm in new sales, reduced fraud by 30%, and enabled our team to operate more effectively and efficiently. Their platform is indispensable. And their 3rd party data integration simplified reviews, leading to valuable savings in time and money. Their expertise is unmatched.
Senior Vice-President, Fareportal
Looking Forward: Continuous Innovation
FraudNet’s comprehensive platform transforms fraud detection and compliance operations by delivering:
90-Day Performance
FraudNet's solution delivered immediate and substantial business value across multiple key metrics:
90%
decrease in insider threats
100m
additional revenue from new targeted regions
30%
reduction in overall fraud
Looking Forward: Continuous Innovation
FraudNet’s comprehensive platform transforms fraud detection and compliance operations by delivering:
