IBM Business Analytics-Case Analysis
CASE ANALYSIS 6: MONEYGRAM INTERNATIONAL
Company Background
The MoneyGram brand is recognized throughout the world as a leading global payment services company.
The diverse array of products and services we offer enables consumer and businesses to make payments and transfer money around the world. From New York to Russia or London to India - in more than 197 countries - MoneyGram 's money transfer service moves money quickly and easily around the world.
The payment services also help businesses operate more efficiently and cost effectively. We offer our products and services to consumers and businesses through a worldwide network of agents and financial institution customers.
Ted Bridenstine, systems development manager at
MoneyGram—a leading global payment services company—underscores the importance of fraud detection with the story of a 100-year old grandmother who had contacted MoneyGram after receiving a call that her grandson had been arrested and needed
US$2,500 for bail.
Behind the scenes, MoneyGram’s fraud detection system flagged the transaction as suspicious. Analysts determined that it was likely part of a telephone scam and a MoneyGram representative contacted the customer to let her know that the wire had been stopped and her money was being refunded. Worried about her grandson’s safety, she threatened to take her business elsewhere if MoneyGram didn’t wire the money. The company representative implored the woman to contact a family member and verify the story. “She called back three days later in tears to thank the representative personally,” recalls Bridenstine. “She did verify that it was a fraud. She lives on Social
Security and could not afford to lose money. The call was emotional and heartwarming.”
Working with IBM and Alpine Consulting,
MoneyGram has gained clear visibility into the transaction history of each customer and insight into
“who’s who?”, “who knows whom?”, and “who does what?” as it
Company Background
The MoneyGram brand is recognized throughout the world as a leading global payment services company.
The diverse array of products and services we offer enables consumer and businesses to make payments and transfer money around the world. From New York to Russia or London to India - in more than 197 countries - MoneyGram 's money transfer service moves money quickly and easily around the world.
The payment services also help businesses operate more efficiently and cost effectively. We offer our products and services to consumers and businesses through a worldwide network of agents and financial institution customers.
Ted Bridenstine, systems development manager at
MoneyGram—a leading global payment services company—underscores the importance of fraud detection with the story of a 100-year old grandmother who had contacted MoneyGram after receiving a call that her grandson had been arrested and needed
US$2,500 for bail.
Behind the scenes, MoneyGram’s fraud detection system flagged the transaction as suspicious. Analysts determined that it was likely part of a telephone scam and a MoneyGram representative contacted the customer to let her know that the wire had been stopped and her money was being refunded. Worried about her grandson’s safety, she threatened to take her business elsewhere if MoneyGram didn’t wire the money. The company representative implored the woman to contact a family member and verify the story. “She called back three days later in tears to thank the representative personally,” recalls Bridenstine. “She did verify that it was a fraud. She lives on Social
Security and could not afford to lose money. The call was emotional and heartwarming.”
Working with IBM and Alpine Consulting,
MoneyGram has gained clear visibility into the transaction history of each customer and insight into
“who’s who?”, “who knows whom?”, and “who does what?” as it