Speed is crucial in battle against rising crime and bad debt
Banking giant HSBC is to extend its use of business intelligence software to reduce bad debt and fraud. The bank is already close to completing the installation of detection systems in 25 countries to identify fraudulent payment card activity.
HSBC is now considering extending its use of the software into other parts of the business, including its credit management, anti-money laundering and online banking divisions.
George Lennox, senior manager of group credit at HSBC, says the software will be able to detect payment fraud six times faster than existing systems, by identifying unusual behaviour in customer spending habits when it goes live next year (Computing, 20 July).