ME Bank

ME bank improves online banking security and internal compliance reporting


Founded in 1994 as Members Equity Bank Limited, ME is an Australian online bank with more than 20 billion Australian dollars in booked mortgages.

Industry:
Financial Services

Products:
RSA® Fraud & Risk Intelligence Suite
RSA Archer® Suite

Read the case study

Challenges

The bank needed to manage its risk of online banking fraud, maintain a frictionless customer experience and ensure accountability around risks and controls.

  • Using existing capabilities, the bank could detect fraud attempts but not identify the source.
  • False-positives in fraud detection minimized efficiency and inconvenienced customers.
  • Attempts to improve audit accountability were hindered by slow compliance reporting

Solutions

The bank now relies on RSA for more effective web threat detection and more efficient compliance reporting.

  • RSA Fraud & Risk Intelligence Suite provides web threat detection capabilities that enable real-time fraud tracking with fewer false positives.
  • RSA Archer Suite reduces the time it takes front-line management to accurately report compliance to governance committees.

Results

Real-time fraud tracking has enabled more timely threat detection and a higher overall security stance for the bank. The web threat detection capability has also dramatically reduced false-positive alerts, which means less investigation time for the front-line team and less likelihood of a fraud alert interrupting a customer in the middle of a legitimate transaction. In addition, RSA Archer Suite has radically reduced compliance reporting time, allowing the bank to shift its audit and compliance focus to performance management.

Financial crime is recognized in our industry as a material risk and we’re being acknowledged for the business impact that implementing RSA solutions has made.

Josie Francese
Manager of Financial Crime

ME Bank
ME Bank
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