The LexisNexis® ThreatMetrix® Solution Supports Commercial Bank of Dubai’s Customer-Centric Strategy by Reducing Online Friction and More Accurately Detecting Fraud
Company Size
1,000+
Region
- Middle East
Country
- United Arab Emirates
Product
- ThreatMetrix
- Smart ID
- Proxy Piercing Technology
Tech Stack
- Dynamic Behavioral Analytics
- Global Digital Identity Intelligence
- Deep Connection Analysis Technologies
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Customer Satisfaction
- Digital Expertise
- Productivity Improvements
Technology Category
- Analytics & Modeling - Predictive Analytics
- Application Infrastructure & Middleware - Data Exchange & Integration
- Cybersecurity & Privacy - Identity & Authentication Management
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
- Quality Assurance
Use Cases
- Fraud Detection
Services
- Cybersecurity Services
- System Integration
About The Customer
The Commercial Bank of Dubai (CBD) is one of the largest banks in the Gulf region, offering a range of financial products and services. CBD is committed to providing superior service and support to its customers; epitomized by its customer-centric banking services. In a landscape of rising fraud levels and a complex user base, CBD strives to make the online banking experience as frictionless as possible.
The Challenge
Simplicity and innovation lie at the heart of CBD’s core values. Championing these values in a climate of rising fraud, a diverse user base and a huge proliferation in online interactions has created a number of key challenges. CBD wanted to offer a market-leading mobile banking app that provided users with banking freedom; creating easy, fun and personalized interactions without unnecessary intervention. The threat landscape in the Gulf region is evolving; fraud is continuing to see increasing growth, while the region continues to attract an incredibly diverse population of highly-mobile, sometimes disparate workers. This has created a complexity in user behavior that incorporates, for example, high-frequency travelers and customers making high value payments.
The Solution
Incorporating global digital identity intelligence with dynamic behavioral analytics, the ThreatMetrix® solution helped CBD build a more accurate profile of trusted customer behavior; reducing false positives, and improved detection of genuine fraud incidents. The LexisNexis Digital Identity Network collects and processes global shared intelligence from millions of daily consumer interactions including logins, payments, and new account applications. Using this information, CBD were able to better distinguish between trusted customer behavior and potential fraud. Key features include Smart ID, which identifies returning users that wipe cookies, use private browsing, and change other parameters to bypass device fingerprinting. Deep connection analysis technologies give CBD a clearer view of suspicious events, and ThreatMetrix behavioral analytics help CBD to better understand genuine customer behavior while accurately detecting genuine fraud.
Operational Impact
Quantitative Benefit
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