Overview

Rabobank Group is a leading global financial services provider, operating in more than 48 countries and serving more than 10 million customers worldwide. The group has a long history of financial expertise in the food and agricultural industry and employs a low-cost model emphasizing a digital presence and limited branches.

Currently, over 95 percent of Rabobank’s traffic comes through online channels. Rabobank also offers educational opportunities to help its clients become more confident and secure in understanding and using technology to manage their financial and banking needs.

ThreatMetrix supported Rabobank to:

  • Integrate real-time dynamic intelligence into their business processes to make more accurate fraud and risk decisions
  • Streamline the authentication process for trusted, returning clients, improving the online experience
Business Problem

Rabobank has been at the forefront of embracing a digital-first banking strategy; online channels support its low-cost business model and effectively serve the needs of many of its clients (farmers, ranchers, and agribusiness companies) who depend on online banking due to their rural locations. Because a large percentage of Rabobank’s clients transact digitally, customer satisfaction with the online experience is imperative. Therefore, when Rabobank began offering online banking services nearly a decade ago, it needed a fraud solution that could effectively reduce fraud losses across all platforms, enabling its clients to securely transact online, reinforcing customer satisfaction.

With the launch of its new mobile banking platform, Rabobank needed a more seamless login process, but strict internal security policies prevented such functionality. Demonstrating decreased fraud losses and increased security on the online platform would be instrumental in convincing executives to change these policies, thereby reducing friction and improving client satisfaction.

Another aspect of Rabobank’s strategy involves educating clients about banking securely. For clients in rural communities, learning and trusting technology remains an issue that Rabobank continues to address. Performing client computer health checks further enhanced security and had a positive impact on customer satisfaction.

ThreatMetrix has enabled us to lower fraud costs and improve overall customer satisfaction, paving the way for more board level conversations about fraud and risk.

Andrew Vickers, General Manager, Technology Systems, Rabobank

The Power of Global Shared Intelligence to Detect High-Risk Events in Real Time

The best way to tackle complex, global cybercrime is using the power of a global shared network. The ThreatMetrix Digital Identity Network collects and processes global shared intelligence from millions of daily consumer interactions including logins, payments, and new account applications. Using this information, ThreatMetrix creates a unique digital identity for each user by analyzing the myriad connections between devices, locations, and anonymized personal information. Behavior that deviates from this trusted digital identity can be accurately identified in real time, alerting Rabobank to potential fraud. Suspicious behavior can be detected and flagged for review, step-up authentication or rejection before a transaction is processed, creating a frictionless experience for trusted users.

Key Features of the ThreatMetrix/Rabobank Partnership
  • ThreatMetrix Mobile is a lightweight software development kit (SDK) for Google Android and Apple iOS mobile devices, providing complete fraud protection for the mobile channel. This includes: application integrity evaluation, advanced persistent device identification, malware detection, location services, jailbreak and root detection technologies, anomaly and device spoofing detection and dynamic configuration and updates.
  • ThreatMetrix Smart ID identifies returning users that wipe cookies, use private browsing, and change other parameters to bypass device fingerprinting. This improves returning user detection and reduces false positives. Derived from the analysis of many browsers, plug-in, and TCP/IP connection attributes, Smart ID generates a confidence score that detects multiple fraudulent account registrations or log in attempts.
  • Deep connection analysis technologies give Rabobank a clearer view of suspicious events. Fraudsters often attempt to hide behind location and identity cloaking services such as hidden proxies, VPNs and the TOR browser. With Proxy piercing technology, ThreatMetrix examines TCP/IP packet header information to expose both the Proxy IP address and True IP address. These techniques help Rabobank gain detailed network level signals for more accurate decision making detection and dynamic configuration and updates.

ThreatMetrix intelligence gives us greater insight into our client base, allowing us to make better risk decisions and be smarter about adjusting rules based on customer behavior.

Andrew Vickers, General Manager, Technology Systems, Rabobank

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