Introducing LogicLoop's Case Management Solution

Why managing cases is important

Managing fraud and compliance operations is increasingly becoming a burden to aspiring and growing fintechs, with every $1 in fraud costing companies $4 to manage. 

For fraud programs to truly facilitate growth, they have to:

1. Not have a consistently high false positive rate
2. Make the review process swift to avoid blocking good users
3. Enable risk operations teams to make changes quickly

This is where good case management can really accelerate your review time, causing more good users to go through faster. 

What companies need in case management solutions

LogicLoop works with several fintechs that have issues not just with core alerting, but also with a sustainable case management solution option. This often presents several challenges, since the case management system needs to:

1. Have an intuitive user interface for operations agents 
2. Be easy to integrate into your tech stack
3. Cost a reasonable amount

LogicLoop’s Trust Operators community recently had a healthy discussion around this. 

Companies do not have great options for case management

From the past above, it was clear that companies need a way to better manage cases. Here are two of the most common options companies have:

• In-built from fraud rules engine, e.g. Unit21, Alloy, Hummingbird, Sardine.ai etc. 
• Build in-house sometimes with internal tool builders, e.g. Retool

Often, the biggest complaint with in-built fraud rules engine case management is the lack of ability to pull in external signals that aren’t within that system and flexibility in viewing and resolving cases.

When off-the-shelf solutions don’t work, companies are forced to consider building it in-house, sometimes with internal tool builders like Retool, etc. The issue there is that it would still take engineering effort to build, and deliver results in a 6-12 month time frame, not to mention maintenance costs. 

This leaves companies in a real dilemma. Enter LogicLoop. 

LogicLoop vs current options

LogicLoop vs fraud rules engines

In comparison to the more rigid data structure that fraud rules engines like Unit21, Alloy, Hummingbird, Sardine.ai etc. define, LogicLoop is able to:

• Visualize non-standard concepts: web2.5, related entities, etc. which reduces # clicks for operations teams. 
• Take actions directly: not just view cases but also take next steps, including templating customer communication to save operations time. 
• Provide useful features without spending engineering time integrating tools: Deduplicating by entity, snoozing, collaboration, audit logs, etc. are all in-built and customers can get started within a few minutes. 

LogicLoop vs internal tools

In comparison to the more expensive route of building and maintaining internal tools, LogicLoop is able to:

• Get operations unblocked in days not months: instead of waiting for the engineering team to build and every time they need to maintain it, LogicLoop users can get started quickly
• Provide a better user experience and more functionality upfront: Since we’re specialized in providing 100% flexible dashboards alongside tickets, and templated automations, LogicLoop users have friendlier user experience upfront. 
• Make operations managers more efficient: Understand agent and rule performance and analytics seamlessly, without having to parse through raw log data from internal tools.  

Results with LogicLoop Case Management 

LogicLoop has saved Nearside (read case study) 75% time to review, which means good users are getting through faster. At other customers, we’re seeing rapid adoption over the restrictive current options, eventually allowing operations teams to not just deal with the aftermath of alerts but take an active role in improving alert quality, through an end-to-end feedback loop. 

If you’d like to check out how LogicLoop helps solve problems from using both fraud tooling and internal tooling, sign up for a demo here. 

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