Finnish Retail Bank S-Bank Selects Worldline for Fraud Detection, Prevention

Worldline [Euronext: WLN], a global player focused on payment services, has integrated its Fraud Management Suite into the issuing platform of Finnish bank S-Bank.

Supported by Worldline technology, S-Bank will “deploy extensive real-time fraud detection for debit and credit cards whilst increasing the efficiency of its card fraud and risk management.”

With counterfeit fraud and face-to-face interactions decreasing, online fraud now “represents 94% of overall fraud and has pushed fraudsters towards those channels.” Financial institutions need innovative solutions “to detect and respond to fraud in real-time.”

S-Bank has “recognized the benefit of using Worldline’s state-of-the-art fraud detection and reaction platform to detect and respond to fraudulent payments before they are even processed.”

Worldline Fraud Management Suite (FRAMS) “covers all aspects of card fraud detection and prevention, incorporating artificial intelligence and rules modeling management, investigations, and fraud case handling.”

Three tools developed by Worldline and adapted to S-Bank processing have been implemented:

  • Worldline Pay Online Watcher: a real-time rules engine for front-office authorization declines.
  • Extended Watcher: providing artificial intelligence and big data analysis including clearing and confirmed fraud cases, as well as for sending card-blocking instructions to the back office.
  • Fraud Case Management tool: for case handling, investigations, and call centre for cardholder interactions.

As noted in the update, S-Bank is “a Finnish bank which aims to offer banking services that make life easier. As part of the S Group, they cater to 3.1 million customers in Finland.”

S-Bank wants “to reshape the banking industry by offering superior ease and benefits by working with the S Group in developing new services.”

By implementing the Fraud Management Suite, the bank is “able to leverage the existing fraud protection expertise of Worldline and react to payments fraud in real time.”

Marketta Lundell, Head of Cards at S-Bank, said:

“During the implementation process, we found common working methods and are pleased with the current co-operation with Worldline. We recognize that by implementing this Worldline FRAMS solution on top of our existing platform, we’re benefiting from the expertise and software that was developed in-house by Worldline, that is also used by financial institutions across the entire continent.”

Michael Steinbach, Head of Global Business Line Financial Services at Worldline, remarked:

“The successful integration of the Fraud Management Suite at S-Bank, a major player in the Finnish market, underlines our increasing footprint in the Nordic region. With our solution, S-Bank can scale up without hesitation, at any given time. We’re proud to welcome them as one of our partners in Finland, and this partnership demonstrates an amazing possibility for growth.”

As mentioned in the announcement, Worldline claims to be “a global leader in the payments industry and the technology partner of choice for merchants, banks and acquirers.”

Powered by c. 18,000 employees in more than 40 countries, Worldline provides its clients “with sustainable, trusted and innovative solutions fostering their growth.”

Services offered by Worldline “include in-store and online commercial acquiring, highly secure payment transaction processing and numerous digital services.” In 2021 Worldline “generated a proforma revenue close to 4 billion euros.”

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