Hong Leong Bank

Hong Leong Bank adopts fraud solutions that adapt to customers


Hong Leong Bank is a publicly listed company based in Malaysia. It is a part of the larger Hong Leong Group, which has operated in the financial services industry since 1968.

Industry:
Financial Services

Products:
RSA® Adaptive Authentication
RSA FraudAction™ service

Read the Q&A

Challenges

A static approach to fraud prevention forced the bank to impose the same security requirements on every customer.

  • There was no way to tailor security based on customer behavior. 
  • The bank could not adapt quickly to new threat behavior in the field.
  • High numbers of false positives increased the risk of a negative customer experience.

Solutions

The bank replaced its static security functions with dynamic, innovative RSA Fraud & Risk Intelligence Suite capabilities to ensure a safe digital banking experience.

  • RSA Adaptive Authentication enables the bank to individually profile each user’s behavior and continuously learn new behaviors.
  • RSA FraudAction service addresses fraud threats that are external to the bank with proven web fraud detection and threat management capabilities.

Results

Based on the number of disputes reported by customers vs. the actual fraud detection rate, the bank is enjoying a higher rate of fraud detection and a lower rate of false positives. Customers aren’t panicking over false alarms, which contributes to a better customer experience. And with the high performance achieved with RSA, the bank is able to use resources more efficiently, deploying a small streamlined team to run the fraud detection system 24/7.

With the fraud detection system [from RSA] and the policy rules we’ve written, we’re able to detect fraudulent activity, and in some cases, deter attackers…we’ve also reduced the number of false positive results.

Edward Lam
Head of Regulatory Compliance, Security Management & Self-Service Terminal Development

Hong Leong Bank
Eastern Bank
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