Addressing surge in fraud notifications for a UK consumer lender

Background

A prominent UK consumer lender faced a significant challenge when they experienced a surge in fraud notifications. Amid substantial regulatory changes, their existing team was unable to manage the influx, necessitating the assistance of a specialist team to resolve the issue.

How we helped

Davies, with extensive experience in fraud and operational backlog, quickly identified the ideal team structure and processes required to reduce the lender’s backlog effectively. We assembled a team of 24 Fraud Investigators, two Senior Fraud Investigator/Team Leaders, and an Oversight Manager to focus on addressing the backlog. In addition to the team assembly, we conducted weekly review meetings to monitor onboarding and performance, making adjustments based on regular feedback sessions.

Furthermore, we collaborated closely with the lender’s senior team, who actively supported our onboarding process, resulting in rapid improvements in production and quality numbers.

Results

Davies’ efforts led to a swift reduction in the backlog, ensuring a smooth closure of the project. This project was particularly successful, as the lender had never used external support before. We completed the project ahead of schedule and were subsequently awarded a second project to address a new customer cohort. Our work findings were presented to both the lender’s executive committee and the FCA, and the lender’s feedback was overwhelmingly positive, especially during a challenging period for the organisation.