“Focus on Fraud” project shortlisted in leading industry awards
Reading, UK – 9 March, 2011 – Adeptra, the market leader in auto-resolution, today announced that its work with Nationwide Building Society has been shortlisted in the FST awards. The highly coveted awards recognise excellence and innovation in information technology within the UK and EMEA financial services sectors.
A key area of the shortlisted “Focus on Fraud” initiative involved broadening Nationwide’s existing relationship with Adeptra, by introducing an automated interactive communication solution. This solution makes a call to the consumer when a suspected fraudulent transaction has been attempted on their card. The message gives details of the transaction in question, as well as other recent transactions and asks consumers to confirm, using the telephone keypad, whether the transactions are genuine.
The primary judging criteria for the FST awards are the delivery of definable and significant business benefits, innovation, and originality of application. As a result of the “Focus on Fraud” project, Nationwide has managed to cut net credit card fraud losses significantly. However, more importantly, by communicating with customers in a timely, personalised and relevant manner, customer satisfaction levels have significantly improved, a key driver behind the initiative.
Phil Smith, head of customer management at Nationwide, said: “Nationwide has undoubtedly achieved some excellent metrics as a result of the project. But internal cost-saving benefits were never the sole driver for success. A clear commitment to delivering the highest level of service to the consumer has always been at the heart of Nationwide’s vision.”
Bill Brown, director of Worldwide Product Marketing for Adeptra commented: “These prestigious awards are designed to emphasise the importance of IT as a key driver in business and to acknowledge and reward IT specialists working within the sector.” He continued: “We are very proud of the work we have been doing with Nationwide and the fantastic results that the team has achieved, both in terms of cutting fraud losses and improved customer service. Being named on the shortlist of the FST awards is a boost to all involved in the fraud initiative and I eagerly look forward to hearing the final results.”
The FST Awards ceremony is to be held on 31 March 2011 at the Lancaster London Hotel, Bayswater, London.