IBM > Case Studies > Benelux Bank: Enhancing Security and Reducing Risk with IBM Fraud Detection Solutions

Benelux Bank: Enhancing Security and Reducing Risk with IBM Fraud Detection Solutions

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Technology Category
  • Cybersecurity & Privacy - Intrusion Detection
  • Cybersecurity & Privacy - Malware Protection
Applicable Industries
  • Finance & Insurance
  • Retail
Applicable Functions
  • Human Resources
Use Cases
  • Fraud Detection
  • Tamper Detection
Services
  • System Integration
The Challenge
A Benelux bank, providing banking, savings, investment, and pension products and services, was facing a significant challenge due to the increase in malware-based attacks in its region. The bank was particularly concerned about man-in-the-browser and man-in-the-middle attacks against its customers. While the bank had not experienced a fraud loss from these attacks, the executives were worried about the potential damage these attacks could cause to the bank and its customers. The bank had previously invested heavily in perimeter security, such as intrusion prevention systems, to prevent criminals from accessing the bank's network. However, as fraudsters began targeting bank customers through malware attacks, the bank executives realized the need to expand their security capabilities to the endpoint. The bank was only able to learn about a fraud attempt when a customer reported an issue with their account balance. Therefore, they sought an additional layer of security to gain an early warning of malware-driven attacks.
About The Customer
The customer in this case study is a Benelux bank that provides a range of financial services including banking, savings, investment, and pension products. The bank manages billions of Euros in client deposits. The bank has a high level of online banking awareness and use, making it a prime target for fraudsters. The bank had previously invested heavily in perimeter security to prevent unauthorized access to its network. However, with the rise in malware attacks targeting bank customers, the bank recognized the need to enhance its security measures to protect its customers and reduce its risk.
The Solution
After evaluating several solutions, the bank chose IBM® Security Trusteer Pinpoint Malware Detection™ Advanced Edition software. This software provides clientless detection of malware activity, analyzing customer devices as users log in and identifying anomalies in web application behavior. The solution protects approximately 230,000 of the bank's retail customers, analyzing more than 48,000 logins daily. The bank also uses IBM Security Trusteer Rapport® software to remediate threats as soon as malware is detected on a user's system. Once a customer downloads Trusteer Rapport software, the malware is removed and the device is protected against future infections. To date, approximately 5,200 of the bank's retail customers have downloaded the software. The bank also proactively contacts customers who they think may be at risk, such as customers who currently use the Microsoft Windows XP operating system.
Operational Impact
  • The implementation of IBM's fraud detection solutions has significantly improved the bank's ability to stop fraud before it occurs. The bank can now detect if something is going on and help its customers protect their PCs before criminals can use their systems to execute fraud. This proactive approach has increased customer satisfaction, with customers appreciating the bank's efforts to ensure their transactions are executed within a secure environment. The solution has also created greater awareness and trust in the bank. Furthermore, the added security measures have enabled the bank to reduce its operational risks and the amount of money it must hold in reserve, providing a significant advantage to the bank's business case.
Quantitative Benefit
  • The solution protects approximately 230,000 of the bank's retail customers, analyzing more than 48,000 logins daily.
  • Approximately 5,200 of the bank's retail customers have downloaded the Trusteer Rapport software for malware removal and future protection.
  • The bank was able to reduce the amount of money it must hold in reserve due to reduced risk level.

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