Big Data Analytics just helped me

Just a quick update on how Realtime Analytics do provide value on a day2day basis:

Someone stole my credit card data – probably on one of the recent trips. @AmericanExpress found out via their #RTA, blocked the payment, called me, sent email & text message in parallel while blocking the payment waiting for my response. 

As this was fraud, my card got blocked immediately after I pressed the “not me” button (I was in a conference when this happened, so couldn’t get on the phone immediately) but the tech in use saved me a real lot of money + time.

So: Yes, I have to wait a few business days to get my new card, but no financial loss – Thanks AmEx – thanks #BigData #RTA

How did Amex find out? Of course using tailored analytics, taking into account (amongst other parameters) my usual spending behaviour (the fraud was done on a web shop I don’t use and had a significant amount)

In a nutshell: I am glad the guys do use modern technology to protect themselves (and sub sequentially my wallet) – Of course I could have reclaimed later when receiving the monthly statement, but when considering the time this would have cost me – this solution is way better!

/Chris

2 thoughts on “Big Data Analytics just helped me

  1. I had a similar experience with my MasterCard except that they did not use this technology – or it was not as effective, so when I figured out that someone had used my card I had to call the bank to block my card and contact the shop to see if they could cancel the sale (don’t want a thief to benefit)

    Like

  2. Very interesting & disappointing, Soren. Let’s be honest – this is probably one of the oldest use cases, so I would have expected also MC leveraging….but well….devil’s in the details

    Like

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