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!
2 thoughts on “Big Data Analytics just helped me”
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)
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