BMW Bank National Hunter implemented a system on fight against fraud

In the summer of 2015 of BMW Bank National Hunter implemented a system on fight against fraud. Service of the Joint Credit Bureau "National Hunter" for counteraction to fraud at the interbank level allows to reduce losses of credit institutions considerably.

The principle of work of service is based on transfer of credit requests in Bureau where statements are processed on the Hunter platform. Further they are compared to the historical data loaded by other participants of service (more than 40 largest credit institutions) therefore discrepancies in data or coincidence to the known cases of fraud come to light.

Implementation of service was considered by specialists of BMW Bank within general strategy on automation of retail credit process, reduction of operating expenses and quality improvements of retail lending.

Before connection of Service retrotesting within which over 6 thousand credit requests, a half of which were approved by Bank, were analyzed was carried out. On analysis results it was revealed that consideration of requests through National Hunter could reduce quantity of cases of the confirmed fraud twice.

Use of service completely paid back costs for implementation in 3 months.

"Daily we receive a large number of credit applications for acquisition of the BMW, MINI cars and also the BMW motorcycles. High-quality growth of the loan portfolio and speed of decision making – the most important criteria of our work. For us very important quickly and qualitatively to process credit requests and to identify potentially unfair borrowers. Implementation of National Hunter service helped Bank to optimize process of consideration of requests, it is essential to accelerate process of a design of the credits for fair borrowers and several times to reduce costs for check of borrowers", – Anna Morozova, the Chairman of the board of BMV Bank LLC says.

"During the periods of economic instability the activity of swindlers always increases. According to experimental design bureau the share of "fraudulent" requests for the credits grew since the beginning of year twice, - Nikolay Myasnikov, the deputy CEO, experimental design bureau says. – The National Hunter service allows banks not only to reveal suspicious requests at a consideration stage, but also to considerably optimize the expenses on operating activities that is extremely important in the current situation. Results of the retrotest in BMW Bank showed that 70% of all coincidence by critical rules were the share of data of the banks working in a car loans segment. From this it is possible to draw a conclusion that most of swindlers has the narrow specialization. A large number of participants of service and a wide regional covering allow to achieve the maximum effect in counteraction to fraud at the interbank level".