How we transformed fraud prevention and regulatory compliance at Banco del Austro
In today’s financial world, where risks evolve as rapidly as technology, security cannot be left behind. At Banco del Austro, we understood that to protect our customers and strengthen trust in our services, we needed to go beyond the traditional. That’s why we decided to transform our fraud and money laundering prevention processes. And we did it with Sentinel.
The Breaking Point
For years, we worked with a tool that, while it met certain objectives, limited us. Its administration was complex, we relied on third parties for basic configurations, and this translated into slow response times and deliverables that didn’t always meet our expectations.
Furthermore, it only covered a portion of our transactional channels. The rest remained unmonitored, which was a risk we could no longer take.
The need for a comprehensive vision
We realized we needed a solution that not only monitored transactions that move money, but also those that don’t, but that can be early signs of fraud.
We wanted a tool that would allow us to manage prevention across multiple platforms, autonomously and efficiently.
The choice of Sentinel: a strategic decision
We evaluated several options on the market. What convinced us about Sentinel was its practical and human approach. We didn’t need an army of technicians to operate it. Our own compliance and fraud prevention teams could configure rules, adapt them, and respond quickly to events. This gave us control, agility, and a responsiveness we didn’t have before.
In addition, Sentinel offered us a centralized solution, with few modules but a broad reach. This meant lower costs in licensing, implementation, and support. The cost-benefit ratio was clear from the start.
Adopting Sentinel was surprisingly easy. From training to initial setup, everything flowed intuitively.
A trauma-free implementation
There were no reworks or delays. And most importantly, our teams felt supported throughout. The Sentinel team not only implemented the solution but became a true partner, guiding us and helping us get the most out of the tool.
Results that speak for themselves
Since implementing Sentinel, we’ve seen a significant decrease in fraud on channels such as credit and debit cards. We’ve also reduced operating costs and improved our response capacity. Today, our rules are adjusted quickly, and this has a direct impact on reducing monetary losses.
Looking to the future
Jorge Cárdenas
Vice President of Comprehensive Security
