Swedbank, a leading issuer and acquirer in the Nordic and Baltic regions, was under intense pressure to meet strong customer authentication (SCA) compliance mandates. Beyond compliance, the bank also needed a solution that would deliver a seamless, secure customer experience for its multi-regional, diverse customer base. Learn how Swedbank leveraged ACI Fraud Management to deliver an innovative, robust security solution that maintains compliance and drives satisfaction.
The challenge
Regulatory changes in the European market necessitated Swedbank re-evaluate its fraud strategy
The bank was under pressure to meet looming deadlines for PSD2 and strong customer authentication (SCA)
Fraud modernization efforts also needed to accommodate the regulatory and customer needs in both the Nordic and Baltic regions
The solution
Swedbank partnered with ACI Worldwide to upgrade to the latest capabilities from ACI Fraud Management
The bank leveraged ACI Fraud Management to enable its SCA exemptions strategy, including integrating directly into its access control server
Swedbank also bolstered its multi-country security by routing all issuing transactions through its ACI Enterprise Payments Platform and ACI Fraud Management solutions
The results
The bank achieved compliance with the regulatory technical standards for transaction risk analysis, and implemented SCA exemptions in just seven months — well ahead of the regulatory deadline
Phase one’s rapid completion enabled Swedbank to accelerate its machine learning strategy for fraud prevention with ACI’s model generator, which has been shown to improve CNP fraud detection rates by as much as 22%
Over the past three years, leveraging ACI Fraud Management in combination with Mastercard fraud services, Swedbank has been able to reduce total gross fraud by 55%
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