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Fighting fraud in a digital world

Emre Sayin, founder and CEO of FCase, explains how his company is helping banks and financial institutions get a better view of fraud.


Can you tell us how FCase came to be and explain how you assembled your team to bring a new philosophy to fighting fraud?


FCase was set up to solve a global need which currently exists in the financial industry. Banks and financial institutions are offering new, convenient ways for customers to manage their finances, resulting in a more enhanced customer experience. We found that fraud detection systems across banking channels were not running at optimal levels and were plagued by a “silo effect,” where information does not flow seamlessly across the organisation. This is where we believe fraud orchestration is the answer to the current fraud risks impacting banks and financial institutions around the globe.


Our team has extensive experience and expertise in fraud prevention, as well as operations governance. From sales to development, I carefully assembled my team with individuals marginally obsessive about success. I like working with people who are perfectionists and show dedication. I feel our team’s passion for finding innovative ways to fight fraud is visible in our technology and our overall fraud management philosophy.


What problem does fraud orchestration solve for banks and financial institutions?


FCase was formed to solve the global problem of fraud data fragmentation in banking operations by defining a paradigm we call “fraud orchestration”. Fraud orchestration is a subgroup of data orchestration, resembling a structure very similar to how a composer leads a uniformed, collaborative group of instruments towards creation of blissful music.


Data orchestration looks to create an omnichannel system where an array of platforms collaborates, producing an enterprise-wide view of data across all areas of the organisation. This cross-channel collaboration turns business silos into a symphony, a free flow of data uninterrupted by any obstacles. This orchestration allows for financial organisations to be in a better position to manage fraud across all their banking channels.

Why is an enterprise view of risks across all banking channels important for fraud management teams in fighting fraud?


New digital channels create a cluster of fraud detection systems needed to process massive amounts of data. These independent systems not communicating with one another is a problem that fraud orchestration solves.


This innovative methodology seeks to create a “mission control” for banks and financial institutions, where all fraud risks are visible across the organisation regardless of channel. A holistic view of enterprise risks increases transparency, helps fight fraud at the source, and assists fraud management teams in keeping pace with a fast-moving digital banking world.


Are there any emerging fraud trends banks and financial institutions should have on their radar?


There are always emerging trends when it comes to bank fraud, but one which is having a severe impact on the financial industry already is synthetic identity theft. Synthetic identity theft is where criminals parse together real and fake personal information to create a new identity, using this new identity to open fraudulent banking accounts or make illicit purchases. This type of fraud has quickly become the fastest-growing and hardest-to-detect form of identity theft to date.


TransUnion found between 2015-16 alone there was an increase in synthetic fraud balances of 68 per cent. These fraudulent activities resulted in $800million in credit card losses in 2017, an increase of 38 per cent since 2015. This new threat shows exactly why fraud orchestration is so important. Organisations with a holistic view of suspicious activities across all channels are in a better position to deter synthetic identity theft and keep customers’ assets in-house where they belong.

About FCase


FCase is a fraud data aggregation hub which takes fraud management systems from basic standalone detection to a more enterprise-focused approach, standardising fraud case interaction, fraud management processes, governance models and performance indicators.


Visit the FCase website for more information.

Interview with Emre Sayin Founder and CEO of FCase

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