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How a Leading Corporate,
Private, and Retail Bank
Saved $5M+ Annually 

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Results in Terms of Numbers:

The Beinex Model Enabled for the Client

18M+
Transactions analysed
  • Detected an estimated 25,000+ additional frauds.
  • Reduced transaction review time by 15%, saving approximately 2,700+ hours annually.
  • Improved fraud detection accuracy, reducing false positives and saving around $1+ million annually in fraud-related losses.
1,500+
Mule accounts detected
  • Prevented potential losses of $5M+ annually through early detection.  
  • Enhanced compliance and reduced potential fines by $500,000+ annually. 
6,300+
Man-hours saved
  • Increased productivity by reallocating 6300+ hours to strategic tasks. 
40%
Fake alerts reduced from 96%
  • Decreased the number of false alerts by ~55%, equating to 10,000 fewer false alerts annually.   
  • Saved $300,000 annually in manual resource cost by reducing the time spent on investigating false alerts.  
  • Increased customer satisfaction scores by 30%, retaining an additional 5,000+ customers and increasing annual revenue by $2M+. 
Client & Requirement:

Delivering Beinex Excellence to Our Clients

The client, a leading corporate, private, and retail bank in the MENA region, required a robust solution to combat prevalent impersonation fraud, account takeovers, and mule account transactions. The bank aimed to reduce and address a wide spectrum of fraud and financial crime challenges, such as identity fraud, cyber fraud, consumer fraud, and credit card fraud. Beinex designed and built data, AI &  Machine Learning models to address the client requirements.
Highlights of the Beinex Solution
Acted as a strategic partner in the threat intelligence team in mitigating threats, identifying fraud patterns and addressed fraud and financial crime challenges through AI & ML solutions.
Designed and built the data models, AI & Machine Learning models, recommendation engines, etc., that analyzed over 18M+ transactions, identifying 1,500+ mule accounts and preventing 1,000+ fraudulent takeovers and provided recommendations of any new fraud scenarios.
Integrating these advanced analytics techniques enhanced fraud detection by 40%, significantly reducing false alerts.
Implementation of a real-time balanced scorecard dashboard to periodically track and monitor KPIs. 
Results in Terms of Numbers:

Transforming Challenges into Success Stories

Before Beinex
>
After Beinex
Large-scale fraudulent transactions went undetected due to ineffective measures. 
Fraud Detection
Detected 1000+ account takeover frauds and over 1500+ mule accounts.  
96% of alerts were false, causing customer dissatisfaction and operational inefficiencies. 
False Alerts
Reduced false alerts from 96% to 40%, enhancing customer trust and operational efficiency.  
Manual regulatory report generation took up to 4 days of effort each month. 
Regulatory Reporting
Automated regulatory report generation, saving 6300+ man-hours annually.
Difficulty in managing large volumes of data and transforming it into actionable insights. 
Data Handling
Analyzed 18M+ transactions, achieving a 40% improvement in fraud detection effectiveness.  
Customer dissatisfaction due to false alerts. 
Customer Trust
Built customer trust through improved fraud prevention measures and automated regulatory reporting, highlighting suspicious accounts and identifying fraudsters' details.  
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AI & ML Solutions
End-to-end Automation
Fraud Detection
Regulatory Excellence
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Results in Terms of Numbers:

Resolving Complex Issues with Precision

 Impersonation fraud 

  • Integrated AI and ML for improved threat detection. 

Account takeover fraud (Hacking of customer accounts)  

  • Implemented AI & ML solutions to identify new fraud scenarios and patterns. 

Fraud Threat Intelligence 

  • Integrated AI and ML solution for threat mitigation and identified Mule Accounts and fraud networks.  

Customer Complaint Report Creation 

  • Developed dashboards for better insights into customer feedback and complaints. 

Regulatory Report Creation

  • Enhanced compliance through automated reporting and monitoring systems.
Client & Requirement:

Delivering Beinex Excellence to Our Clients

Visual Representation through Tableau
Leveraged Tableau to create interactive dashboards and visualizations that help analysts and decision-makers understand complex data insights related to risk, fraud patterns, and AML activities. They enable stakeholders to quickly grasp trends, anomalies, and potential risks through intuitive visual representations.
Data Integration and Workflow Automation using Alteryx
Employed Alteryx for data blending, preparation, and workflow automation, saving 2,000+ manhours. The system helps streamline data processing tasks, enabling faster analysis of large datasets involved in identifying fraudulent activities and AML compliance.
Client Spotlight

What Our Clients Say

"Beinex has been pivotal in transforming our fraud prevention efforts, significantly reducing false alerts and fortifying our security posture.

They addressed our multi-tiered issues in advanced technology, helping us handle big data effortlessly. 

Working with Beinex has allowed us to focus more on core business activities while ensuring enhanced security and trust of our customers."

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