Transforming FinancialRisk Assessment
How we helped a global financial institution reduce fraud by 37% while improving operational efficiency and customer satisfaction.
Key Results
Project Overview
A leading global financial services provider with operations in over 30 countries was struggling with outdated risk assessment processes. Their existing system had a high rate of false positives, causing customer frustration and operational inefficiencies. Manual reviews were time-consuming and prone to human error, resulting in both missed fraud cases and legitimate transactions being flagged incorrectly.
The institution approached AscendAI to develop a more accurate, efficient solution that could reduce fraud while improving the customer experience. They needed a system that could adapt to evolving fraud patterns and scale with their growing transaction volume.
Client
Global Financial Services Provider
Timeline
6 Months
Services
AI Consulting, Custom LLM Development, Data Engineering
Outdated Risk Assessment
High False Positive Rate
The existing system flagged 23% of legitimate transactions as potentially fraudulent, causing customer frustration and requiring extensive manual review.
Slow Processing Times
Risk assessments took an average of 26 hours to complete, delaying transactions and impacting customer satisfaction.
Limited Adaptability
The system couldn't effectively adapt to new fraud patterns, leaving the institution vulnerable to emerging threats.
Scaling Issues
As transaction volumes grew, the system struggled to maintain performance, leading to increased operational costs.
Pre-Implementation Metrics
Our AI Solution Architecture
AI-Powered Risk Intelligence
Custom LLM Development
We developed a specialized large language model trained on financial transaction data to identify subtle patterns indicative of fraud.
Real-Time Analysis
Our solution processes transactions in real-time, reducing assessment time from 26 hours to just 15 minutes on average.
Adaptive Learning
The system continuously learns from new data and feedback, improving its accuracy over time and adapting to emerging fraud patterns.
Explainable AI
We implemented transparent decision-making processes that provide clear explanations for flagged transactions, helping compliance teams work more efficiently.
Transformative Outcomes
Our AI solution delivered significant improvements across all key metrics, transforming the client's risk assessment capabilities.
Performance Comparison
Before Implementation
After Implementation
"AscendAI's solution has completely transformed our risk assessment capabilities. We've seen dramatic improvements in fraud detection while significantly reducing false positives. The system's ability to adapt to new fraud patterns has been particularly valuable in our rapidly evolving threat landscape."
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