Reducing fraud losses while lifting approvals
How a top-10 card issuer transformed their fraud detection system to achieve a 38% reduction in chargebacks while increasing approvals by 6.2%.
Key Results
Measurable impact across fraud prevention, customer experience, and operational efficiency.
Significant reduction in fraud losses while maintaining customer satisfaction
Increased legitimate transaction approvals through better risk assessment
Reduced average handling time through automated decision-making
The Challenge
The card issuer faced a critical balance between fraud prevention and customer experience. Their existing rule-based system was:
- Generating too many false positives, frustrating legitimate customers
- Missing sophisticated fraud patterns that evolved faster than rule updates
- Requiring manual review for edge cases, creating bottlenecks
- Lacking real-time adaptability to new fraud vectors
The Solution
Odyssey AI implemented an intelligent fraud detection system with real-time decision intelligence:
- Real-time ML models that adapt to emerging fraud patterns
- Multi-layered risk scoring with contextual decision-making
- Automated A/B testing to optimize approval rates vs. fraud prevention
- Human-in-the-loop workflows for complex cases with full audit trails
Implementation Timeline
From pilot to full production deployment in 6 months with measurable results at each phase.
Phase 1: Pilot (Months 1-2)
Initial deployment on 10% of transactions
- 15% reduction in false positives
- Baseline performance established
Phase 2: Expansion (Months 3-4)
Scaled to 50% of transaction volume
- 25% improvement in fraud detection
- Reduced manual review by 30%
Phase 3: Full Production (Months 5-6)
Complete rollout across all transaction types
- 38% reduction in chargebacks
- 6.2% increase in approvals
- 42% reduction in AHT
"Odyssey balanced risk and customer experience—our approvals climbed while fraud losses dropped significantly. The system learns and adapts in ways our old rules never could."
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