In the fourth quarter of 2019, one of Texas’ largest banks that serves roughly 90 communities throughout Texas and Oklahoma with 189 facilities (with collectively approximately $12.0 billion in assets) began using ARGO’s products to enhance their retail banking experience. The bank turned to ARGO to streamline operations, protect customers against fraud and further cultivate customer relationships.

At the same time, the bank also implemented ARGO’s integrated Teller Payments Fraud solution with real-time fraud detection and AML.

With the assistance of ARGO’s automation solutions, the bank eliminated existing manual handling and rekeying of customer items with electronic workflow, which created a more secure and efficient process. The bank also enhanced their fraud detection capabilities with real-time predictive analytics and decisioning for over-the-counter items.

Based on the significant results in both reducing fraud and streamlining operational processes, in mid-2020 the bank expanded their relationship with ARGO and implemented ARGO’s next generation fraud suite, OASIS^TM (Optimized Assessment of Suspicious Items), to further enhance its security posture through image analysis and transaction analysis across all check-related channels. This added capability further enables the bank to maximize image and transaction analyses to review, investigate, and make decisions on suspect items to protect their customers and institution from fraud.

ARGO’s OASIS solution is an advanced analytical fraud detection platform that is fully integrated with the bank’s item processing, core, returns, teller, mobile, RDC, ACH, and other channels, with the ability to detect fraud in real-time, quasi real-time, and batch. With the expansion of its use of OASIS, the bank will have capabilities in place to support true, real-time fraud detection at the front line for both “on-us” and “transit” items.

As instances of fraud continue to increase, it is vital for banks to have the necessary tools and capabilities in place to detect and combat suspicious activities. By expanding its use of ARGO’s technology, this bank is taking the necessary steps to ensure that the institution is providing the best experience to their customers while efficiently ensuring that it is a safe one as well.

To learn more about Oasis, view our solution briefs.