Halving fraud losses for a global BPO firm in just 2 months

Background

A global BPO firm encountered challenges due to high customer volumes, which resulted in organisational strain and significant gaps in its fraud operations. Lacking a dedicated 1st Line Fraud Team, the company became increasingly vulnerable to social engineering and account takeover fraudsters. As fraud losses grew by 100% month on month, the firm faced financial losses and reputational damage. To address these issues, the company’s CRO sought Davies’ expertise in providing a small, experienced fraud team to bolster its existing workforce.

How we helped

Davies quickly assembled a top-tier fraud team of 16 members, including leaders from diverse backgrounds, to tackle the problem head-on and gather maximum knowledge in minimal time. The full team was operational within just two weeks of the initial request. In close collaboration with the client, Davies worked on redefining the Target Operating Model (T.O.M) and establishing a future-ready Fraud Team. This process involved a significant transfer of knowledge to the client’s permanent colleagues, resulting in lasting improvements to their fraud capabilities.

Results

Through Davies’ timely and practical assistance, the global BPO firm successfully reduced fraud losses by 50% within 2 months. Our rapid onboarding of the 16-person team and the subsequent request for 100% of our resources to support other areas of the business demonstrated the value and impact of our involvement. These decisive actions not only lowered financial losses but also contributed to safeguarding the company’s reputation.