How does BigMemory detect fraud and save millions of dollars?


The growth of online commerce in the last few years has resulted in the growth of online fraud. All merchants have to play the balancing act of processing transactions fast and catching fraud, at the same time. This is a significant challenge as fraud is evolving continuously and to detect & prevent it, say, within a fraction of a second is not trivial.

BigMemory is helping a Fortune 500 payments provider overcome this challenge by becoming an integral part of their fraud management infrastructure.  The company was facing multiple challenges – they were losing 30 cents on every $100 in transactions, their existing platform could only handle 50 fraud rules, they were missing their SLA of 800ms as often as 10 percent of the time and were paying millions of dollars in fraud losses and SLA penalties.

BigMemory was deployed in their fraud management environment and, within a short period of time, delivered several benefits:

  1. Met the new & more strict SLA of 650ms for 99% of transactions
  2. Enabled managing an increased number of fraud rules in-memory resulting in greater fraud detection
  3. Saved tens of millions of dollars in reduced costs from missed SLAs and fraudulent charges
  4. Maintained several terabytes of data in-memory for faster processing
  5. Increased transactions processed per second by 30x
  6. Realized annual savings of $1 million in database licenses because of a smaller database footprint
  7. Offered unlimited scale with predictable latency in low milliseconds
  8. Reduced fraud and faster processing resulted in increased customer satisfaction

They are really excited with all the success they have achieved with BigMemory and are planning to further reduce the SLA to 150ms to handle the increased load from mobile transactions. Faster fraud management has also helped them achieve improved risk management, better use of capital, cultivating more valuable customer relationships and outpacing competitors with real-time intelligence.

If you are interested in learning more, please leave a comment below or email me.

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