Allica Bank, one-step ahead of fraud, compliant, and protecting their customers from scams.
Allica Bank is transforming fraud prevention strategies to deliver safer, more efficient banking for their customers.
Use cases
Banking
Operating regions
Global
BANKING
Offering business banking, investment, commercial mortgages and asset finance.
The partner.
Allica Bank is a dynamic FinTech institution dedicated to serving small and medium-sized enterprises (SMEs) that often find themselves overlooked by larger banks. With a focus on transparency and communication, Allica Bank offers tailored services such as commercial mortgages and asset financing, ensuring their clients receive the support they need to thrive. Their commitment to customer service is matched by a robust approach to fraud prevention, which is essential in today’s rapidly evolving financial landscape.
The challenge.
As fraud tactics become increasingly sophisticated, Allica Bank faced the daunting task of protecting its customers while adhering to strict regulatory standards. Traditional fraud detection methods were often manual and cumbersome, leading to delays in identifying and resolving issues. This not only strained the bank’s resources but also risked compromising the customer experience. Allica Bank needed a solution that would enhance their fraud prevention capabilities without disrupting the seamless service their clients expect.
Thredd has had a massive impact on both us working in fraud and also our customers. Prior to working with Thredd, a lot of our work was manual and long-winded.
Now, we’re able to self-resolve issues, which means we can get to customers who need help much quicker. Those who can self-resolve can get their cards back up and running with minimal disruption, which is absolutely key for people that are running businesses.
Emily Reid
Senior Fraud Analyst - Allica Bank
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The solution.
To tackle these challenges, Allica Bank partnered with Thredd, leveraging their advanced fraud management tools and software. One of the standout features is the self-resolution capability, which empowers customers to quickly address potential fraud incidents on their own. This means that clients can restore access to their accounts with minimal disruption, allowing them to focus on running their businesses.
Thredd also provides a sandbox environment, enabling Allica Bank to test and refine fraud prevention strategies before rolling them out. This innovative approach allows the team to simulate various scenarios and assess potential impacts without affecting live transactions. By identifying effective measures in advance, Allica Bank can reduce false positives and ensure that genuine transactions are processed smoothly.
The payoff.
The partnership with Thredd has led to significant improvements in both operational efficiency and customer satisfaction at Allica Bank. The automation of many manual processes has freed up valuable time for fraud analysts, allowing them to focus on more complex cases rather than routine monitoring tasks. As a result, response times for addressing fraud incidents have improved dramatically.
Customers now enjoy a more responsive banking experience thanks to the self-resolution options available through Thredd’s technology. This not only enhances customer trust but also reduces anxiety during potentially stressful situations involving fraud. Additionally, Allica Bank’s commitment to clear communication—bolstered by Thredd’s tools—ensures that clients feel supported every step of the way.
Overall, Thredd's technology has empowered Allica Bank to create a safer, more efficient banking environment for its customers while maintaining compliance with regulatory requirements. This collaboration exemplifies how innovative technology can enhance customer experiences while effectively combating fraud in the financial sector.
