REDUCED CARD FRAUDS BY 50% THROUGH PLATFORMIZATION

CLIENT

One of the largest consumer banks in the US offering cards, home lending, business banking, saving/checking accounts and wealth management services, aimed to reimagine their customer journeys. They wanted to make them simple, personalized and highly contextual to the customer. To this end, they were looking to-

Drive engagement through omni-channel, customer centered experiences.
Simplify IT to enable continuous and rapid change, and make it more agile and stable.
Achieve cost savings.

SOLUTION

Mphasis helped the client deal with above mentioned challenges through platformization, leveraging our Front2Back™ (F2B) transformation strategy

Zero-based design to reimagine processes and their impact.
Technology modernization through microservices-based development, micro frontends, Kafka events, artificial intelligence (AI) and machine learning (ML).
Distributed event driven architecture with a shared technology stack.
Scaled Agile with extreme automation (DevSecOps, automation and cloud adoption).
Implementation of intelligence layer through event streaming and data lakes; separation of business logic from the legacy core.

BUSINESS BENEFITS

Our solution achieved the following outcomes for the client

50 percent reduction in card fraud loss rate through machine learning.

99.95+% availability; zero planned downtime.

Over 10% YoY growth in digital adoption.

Increased frequency of releases – from quarterly to bi-weekly.

Faster time-to-market (two-week releases) of new products and services.

Improved customer satisfaction – all time high Net Promoter Score.