Online banking crime confronted by “case management cops”

Government building

Don’t shoot the messenger, but experts are projecting that the threat of banking cybercrimes is going to dramatically increase. 

In fact, fraudulent online transactions will double by 2020, according to a recent study by Juniper Research. The study, Online Payment Fraud: Key Vertical Strategies & Management 2016 – 2020, identified three hot areas for online fraud and yes, banking was one of those areas.

As the institutions people trust to protect their savings, what can we do?

Protect and serve

Your customers and members trust you. Protecting their personal information with robust security measures is crucial to maintaining their long-term business. So is acting quickly and efficiently in potential fraudulent situations.

That’s why financial institutions need to stop relying on spreadsheets. The inefficiency of spreadsheets leads to time-consuming and disorganized investigations that are frustrating for customers and members.

However, fraud departments can use up to a dozen different spreadsheets to identify and monitor fraud reports.

A dozen? Really? This is the 21st Century! We’re supposed to be flying around with jetpacks, not making ourselves blind by scrolling through thousands of lines of numbers on computer screens.

Investigators need a better alternative to basic spreadsheets. They need a simple way to organize, access and connect each piece of critical information, including information across different technology applications.

That’s where case management software comes into play.

Streamline investigations

The right case management solution frees you from the constraints of spreadsheets. It also allows investigators to easily log, access and interact with the critical data involved in a fraud investigation.

By increasing visibility and control – including audit trails of all activities to increase transparency – your institution can proactively identify threats and opportunities for improvement.

Leveraging an enterprise content management (ECM) case management solution for fraud investigations gives you a 360-degree view of all case-related information – including data records, documents, forms and history. It also gives you the ability to easily share that information with investigators.

The right case management solution allows financial institutions and investigators to:

  • Simplify the entry, organization and reporting of information surrounding a fraudulent case file
  • Provide instant and simultaneous access to case files for multiple users
  • Identify where fraud is coming from
  • Streamline investigations with easy access to information from disparate systems
  • Easily find what they need with advanced search capabilities

There are some really smart people out there who apparently aren’t worried that their “business plans” are based on theft. Our job is to make sure they don’t get away with it.

Case closed.

This post was originally published on

Michelle has expertise in the financial services industry and has been a contributor to the Hyland blog.
Michelle Harbinak Shapiro

Michelle Harbinak Shapiro

Michelle has expertise in the financial services industry and has been a contributor to the Hyland blog.

... read more about: Michelle Harbinak Shapiro