Introduction
CubeMatch was engaged to help a major Irish retail bank in the selection and implementation of a fraud management system, to ensure the bank’s compliance with PSD2 regulations. Our expertise led the package selection and subsequent contracting necessary to address the fraud management team’s requirements.
Deliverables
- Selection of most suitable fraud monitoring solution
- Solution implementation enabling the bank to meet its PSD2 Article 2 requirements
- Monitoring of customer activity via provision of real-time data flows from required channels to the fraud management system
- Implementation of existing rules and checks, to meet existing customer functionality
Approach
- Construction of programme plan to cover procurement, solution architecture and design, testing, implementation and post go-live support. Addressed specific challenges:
- New technology adoption requiring enhanced management and deployment
- Multiple teams’ management, complex delivery
- Solving critical resource constraints
- Organisation of RFP and selection process; handling all 3rd Party communications
- Specialist team of experienced Architects, PMs, BAs, and QA testers
- Management of all aspects of analysis and solution design
- Agile management approach to ensure all elements delivered in most efficient manner
- Management of daily scrum stand-ups
- Facilitation of a comprehensive test plan
- Delivery of post Go-Live support
Benefits
- Delivered bank’s compliance with PSD2 requirements
- Strategically preparing the bank for a substantial increase in online transactions
- Complied with CBI 24x7 fraud support with no increased headcount
- End-to-end fraud management solution with real-time capability
- Infrastructure and application multisite resilience
- Rationalisation of fraud management process, and a substantial reduction in fraud detection timings, which has now been implemented across other banking channels