Payrix (Worldpay) · Financial Services · Austin, TX · 14 weeks
Fraud detection model deployed to production
A B2B payments fintech flagged 576 out of 4,800 daily transactions as fraudulent, forcing manual review of every transaction. We rebuilt their fraud detection model, cutting false positives to 86 per day. This saved $2.9 million annually in review costs while still catching 4,771 of 4,800 actual fraudulent transactions.
Challenge
The rules-based fraud system flagged 576 out of 4,800 daily transactions, forcing 24 analysts to manually review every alert. This generated a massive false positive problem, only 14 transactions were truly fraudulent each day. Legitimate customers faced unnecessary friction, and the company wasted $2.9 million annually on analyst labor handling mostly false alarms.
Outcome
False positives dropped from 576 to 86 daily, cutting manual reviews from 4,800 to 720 transactions each day. This reduced annual review costs from $2.9 million to $440,000. We caught 4,771 out of 4,800 fraud cases daily, exceeding the payment network’s required threshold.
Results
- $2.9M Annual review labor saved
- 576 to 86 per day False positive rate
- 4,800 to 720 Daily manual reviews
- 4,771 of 4,800 Fraud transactions caught daily
We had 24 analysts reviewing 4,800 transactions every day, and 4,680 of those were legitimate. Thinklytics cut our false positives from 576 to 86 daily, while still catching over 4,752 fraudulent transactions. The ROI was clear from the start.