INDUSTRY: Finance
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How Accelirate’s UiPath AI Agent Automation Simplifies Fraud Detection for Fin Org, Delivers Significant ROI with 100% Accuracy in Card Services
657
Hours Saved Annually
$19.7K
Annual ROI
100%
Error Reduction Achieved
Client Overview
The client is a leading credit union specializing in card services faced inefficiencies in fraud detection due to a manual, error-prone process across My Co-op, Extranet, and Symitar. Delays in fraud verification, lack of real-time visibility, and compliance risks highlighted the need for an automated solution to enhance accuracy, speed, and scalability.
Key Takeaways
- Faster fraud case resolution with automated processing across multiple applications
- Eliminated manual errors, improving compliance and accuracy
- Automated reporting and tracking for better fraud case visibility
- Reduced processing time, enhancing service quality and customer experience
Managing fraudulent transaction cases efficiently is essential for financial institutions. The manual process of retrieving, verifying, and updating fraud cases across multiple applications led to delays, data inconsistencies, and compliance risks. The reliance on manual checks, email-based authentication, and repetitive data entry further slowed the fraud detection process, increasing operational inefficiencies.
To address these challenges, they partnered with Accelirate to implement a tailored fraud detection automation solution using UiPath. By leveraging intelligent automation, the client streamlined case processing, enhanced accuracy, and ensured real-time tracking. The result? A fully automated fraud detection workflow that improves efficiency, reduces errors, and strengthens compliance.
Optimizing Fraud Case Management and Transaction Verification with Intelligent Automation
The fraud detection process relied heavily on manual intervention, making it time-consuming, error-prone, and difficult to manage efficiently. Processing fraud cases required navigating multiple applications like My Co-op, Extranet, and Symitar, each demanding precise data validation and entry. Manual handling led to delays, inconsistencies in case resolution, and increased compliance risks. Additionally, duplicate entries and missing transaction details resulted in incomplete fraud investigations, impacting service quality and regulatory adherence. A streamlined, agentic automation solution was essential to enhance efficiency, reduce errors, and ensure accurate fraud case tracking.
To overcome these challenges, Accelirate deployed AI Agents for end-to-end fraud case automation:
01 - Automated Case Retrieval & Duplicate Check:
- AI Agents log into My Co-op and Extranet, navigate to the Falcon CDR menu, and retrieve fraud cases for processing.
- Duplicate entries are identified based on card number and customer details, logged in an Excel summary report, and closed before proceeding to the next case.
02 - Intelligent Case Verification & Status Handling:
- AI Agents check the case status in Extranet.
- If marked “Unconfirmed,” the bot moves forward with transaction verification.
- If the case status is different, it is marked as handled in the report and skipped.
03 - Secure Authentication & Symitar Interaction:
- AI Agents authenticate into My Co-op using an email-based passcode retrieval mechanism.
- AI Agents log into Symitar once at the start of the process for efficiency.
- Account number, customer details, and transaction information (amount, merchant name) are retrieved for verification.
04 - Automated Transaction Analysis & Exception Handling:
- If account details are missing or mismatched, the bot flags the case as an exception and logs it in the report.
- Exception cases are automatically categorized and escalated via email notifications to the relevant team.
05 - Fraud Case Update & Compliance Tracking:
- Verified fraud cases are updated in Symitar, ensuring correct tracking of flagged transactions.
- AI Agents create and validate transaction notes before updating the case status.
06 - Automated Status Updates & Reporting:
- AI Agents update fraud case status in the system and log results in the summary report.
- A final report is automatically generated and shared with the business team, ensuring visibility and compliance.
What Was Unique About the Solution Implemented?
UiPath’s intelligent automation seamlessly managed fraud case processing across multiple systems, reducing manual intervention. The deployed AI Agents ensured real-time verification and transaction validation, improving compliance and accuracy. A robust retry mechanism and exception handling Agentic framework were implemented, minimizing disruptions caused by login failures or missing data. Additionally, the scalable architecture allows easy expansion to accommodate future fraud detection enhancements and system integrations.
Fraud Case Handling Process Flow with Agents
Step 1: Agent logs into My Co-op, Extranet, and Symitar
Step 2: Agent navigates to Falcon CDR → Fetch case list → Queue for processing
Step 3: Agent checks for duplicates based on card & customer details (Found → Log in summary report & close duplicate) (Not found → Proceed)
Step 4: Agent verifies case status (Yes → Proceed with transaction verification) (No → Mark as handled & move to next case)
Step 5: Agent logs in to Symitar (one-time login), search for account number & verify card details, extract transaction details
Step 6: Agent handles exception. Account or card not found? (Yes → Mark as exception & log in report) (No → Proceed)
Step 7: Agent updates case details in Symitar, creates & validate transaction notes
Step 8: Agent checks for email confirmation on fraud correspondence
Step 9: Agent updates case status to ‘Successful,’ logs final entry in summary report
Step 10: Agent moves to the next case until all are processed, sends Summary Report to business
Transforming Fraud Detection with AI for Faster, Smarter, and More Efficient Case Processing
The integration of UiPath’s intelligent automation and AI-driven process orchestration led to significant improvements in fraud detection and case resolution. By automating manual interventions, streamlining transaction verification, and ensuring real-time reporting, the organization optimized its fraud management process.
01 - Significant Time Savings
657+ hours saved annually by eliminating manual fraud case handling and duplicate entry checks.
02 - Eliminating Errors
100% error reduction in transaction validation and fraud case processing.
03 - Faster Fraud Detection
Accelerated fraud identification and resolution, improving service quality and compliance.
04 - Cost Efficiency Through Automation
$19,723.50 in annual cost savings through automation.
05 - Better Case Management
Improved case visibility and tracking with automated reporting and real-time updates.
06 - Improved Compliance
Near 100% compliance with intelligent exception handling and automated alerts.
Achieve New Levels of Efficiency and Accuracy with AI-Driven Fraud Detection Automation
This success story highlights how Accelirate’s tailored automation solutions optimize fraud detection and case management, enhancing efficiency, compliance, and accuracy. By leveraging UiPath Agentic AI and AI-driven process orchestration, the client eliminated manual inefficiencies, automated fraud verification, and streamlined case resolution across multiple systems. The result was a seamless, real-time fraud detection process with improved compliance and reduced operational costs.
If you’re looking to enhance fraud detection and optimize case management, partner with a trusted automation provider like Accelirate. Connect with us today to explore scalable, reliable, and intelligent finance automation solutions tailored to your business needs.
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