Case Study: Real-Time Fraud Detection System

Challenge:

Fiserv required improved fraud detection solutions that could instantly spot fraudulent activities while also enhancing customer transaction communication. The current systems only responded after fraud occurred rather than anticipating it, which hindered the ability to protect customers and merchants from potential fraud.

Discovery:

I conducted discovery sessions with stakeholders such as fraud analysts, customer service representatives, and key clients to address this challenge. Through these discussions, they identified particular operational problems, like the delayed recognition and reporting of suspicious transactions. I collaborated with the UX/UI team to establish system functionalities that would improve user interactions and maintain compatibility with current operational procedures.

Solution Development:

Our team created an artificial intelligence system that collects transaction data in real time while using neural networks to perform complex analysis. The system had the capability to rapidly detect patterns that suggest fraudulent activities and produce alerts for suspicious transactions. We collaborated with the UX/UI team to develop a dashboard that made the review process more efficient for analysts because delivering an intuitive and user-friendly solution was our primary focus.

Execution:

I created epics and user stories to align with business objectives while working with technical teams to establish strong cybersecurity protections. Our customer feedback loop enabled continuous improvement of AI models by using real-world usage data and insights. Multiple rounds of testing, along with iterative improvements, enabled us to perfect system performance before its launch.

Impact:

• Decreased quarterly security incidents by 15 with the implementation of robust cybersecurity protocols.

• Designed and launched a privacy-centric payment platform that met stringent regulatory requirements, resulting in a 20% increase in merchant enrollments and generating an additional $300K in new revenue.

Reflection:

The experience demonstrated the vital role of strong security practices and client collaboration during product development. I was deeply proud to make our financial systems more secure for both our customers and merchants. My enthusiasm for product management deepened while working on solutions that effectively reduce fraud and build customer trust. The joint efforts of multiple teams demonstrated how successful solution implementation requires collective innovative work to preserve security within our rapidly changing digital environment.