Engaging a specialist team to support a Finance business experiencing a surge in Fraud

The challenge

A prominent Consumer lender in the UK experienced a backlog of several thousand Fraud notifications. Due to being in the middle of significant regulatory change, their existing team were unable to manage this surge and required a specialist team to help address the issue.

The solution

As we have carried out a lot of work around Fraud, particularly on Operational backlog, we were able to quickly identify both the make-up of the team and the process required to ensure a swift reduction in their backlog. We:

• Structured the team towards “do-ers” by resourcing 24 Fraud Investigators, 2x Senior Fraud Investigator/TLs with an Oversight Manager
• Held weekly review meetings to underpin the onboarding and performance and adjusted how we were working against these regular feedback sessions
• Collaborated with the lender’s senior team who were keen to support our onboarding, helping our production and quality numbers rise swiftly.

The outcome

The backlog was reduced alongside our team ensuring a soft landing and closure of the project and has been one of our most successful Fraud backlog projects yet. It was particularly successful as this firm had never used external support, but we finished ahead of schedule and were awarded a second project 6 months later to address a new customer cohort. We know that the findings from our work have been presented to both the ExCo and the FCA and the feedback from the company has been hugely encouraging, particularly during a difficult period for the organisation.