‍
‍THE CHALLENGE
‍CEO of Luottokunta estimated the total bank costs in re-issuing a payment card at 140€
‍
THE SOLUTION
‍Nets makes use of Bookit's iSMS plug-in for Microsoft Dynamics CRM, which provides an interactive outreach channel for responding to suspicious transactions on the customer's account.
‍
THE OUTCOME
Up to 86% customer response rate to fraud alert messages by text message (Luottokunta /Nets)
When
June 2019
Who
Smartcom Labs, Luottokunta
Fraud prevention through actionable transaction alerts, Microsoft Dynamics Plug In, Loyalty, & Mobile payment.

When a bank suspects fraudulent activity on a card, it stops access to the card until they can speak to a customer.  However, up to 90% of suspected fraud turn out to be false-positives, creating unnecessary card-blocks. Moreover, 1 of 20 customers can be reached by phone.

If fraudulent activity is suspected the cardholder receives a text message from Nets with transactions details and is asked to confirm charges by replying with a single letter A to accept. Their identity and transaction is then either confirmed or denied depending on their response allowing immediate verification.

The solution has allowed the call center to cut costs, operate more efficiently, reduce false-positive account disruptions, and engage customers quickly to identify fraud on their accounts.
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Smartcom Labs' products and services have been protected by the following patents and patent applications:

USRE-47279-E1 USRE-46653-E1 USRE-46395-E1 USRE-44073-E1 USD-874517-S1 USD-787550-S1 US11429905B2US11413657B2US-RE49002-E1 US-9937531-B2 US-9832311-B2 US-9167398-B2 US-9049573-B2 US-8880080-B2 US-8634522-B2 US-8576993-B2 US-8260330-B2 US-8254531-B2 US-7912190-B2 US-7406429-B2 US-11645588-B2US-11501218-B2 US-11290878-B2 US-11233898-B2 US-11144850-B2 US-11004114-B2 US-11004015-B2 US-10929784-B2 US-10902491-B2 US-10748085-B2 US-10740698-B2 US-10637987-B2 US-10300509-B2 US-10200532-B2 TREP-2014113 TREP-1955557 SPEP-2014113 PL-2014113-T3 PL-2014112-T3 PL-1955557-T3 NLEP-2014113 NLEP-1955557 ITEP-1955557 ITEP -014113 IN-316039-B IN-270862-B HUEP-2014113 GBEP-2014113 GBEP-1955557 GBEP-1647132 GB-2446965 FREP-2014113 FREP-1955557 FREP-1647132 FIEP-2014113 FIEP-1647132 FI-127676-B FI-126804-B FI-124899-B FI-119168-B FI-118586-B FI-118585-B FI-117663-B ESEP-1955557 ES-2615461-T3 ES-2541438-T3 EP-2014113-B1 EP-2014112-B1 EP-1955557-B1 EP-1647132-B1 DK-2014113-T3 DK-2014112-T3 DE-112013002121-T5 DE-112013002111 CHEP-1647132CHEP 2014113 AU-2006319060-B2

Updated May 2028, 2024

photo credits: freepik @drobotdean