Symcor was formed by 3 of the largest banks in Canada and has, for over 20 years, proven our ability to work effectively in a utility service structure. We are a leading business processing and client communications provider in Canada supporting major banks, telecommunications, insurance, and retail companies. We delivers value-added solutions for our clients that enable operational excellence and enhance their customers’ experience. We add value through best-in-class service, the latest technology solutions and digital delivery design thinking capability. Symcor is now on digital transformation journey where we are not only growing our business in the digital and data services area but also leveraging key strategic partners such as Hortonworks to help drive innovation, enterprise-grade solutions and data governance. We see our digital and data services offering as one of our key business initiatives where we are seeing lots of potential with the move to digital channels. As part of that, Symcor has launched a Fraud Platform leveraging next-generation analytics, data governance, security, machine learning and advanced Al to provide fraud detection and prevention services to our clients. One key to our success in these areas has been leveraging key strategic partners such as Hortonworks.
Symcor is transforming itself as a digital and data services provider partnering with our clients as they shift to digital channels. As a Result, fraud is a growing problem – growing in both incidence and complexity. In Canada, we estimate that the total impact of fraud is close to $2 billion – stemming from both losses and cost of operations. These opportunities open the door for Symcor to offer industry-leading digital and data services to detect and prevent current and emerging fraud. Hortonworks worked with us to transform our business with industry-leading solutions to drive digital and data services. One of our most significant challenges in the delivery of digital and data services was how we provide industry-leading data governance and security solutions to protect our clients’ data. To ensure we were doing the right things, Symcor’s Privacy and Data Governance team designed a comprehensive data governance policy to empower the ethical use of data for fraud detection and prevention. Hortonworks was able to provide us with industry-leading solutions that allowed us to realize our comprehensive data governance policies through technology solutions.
The Platform had to deliver the following items:
• Gain fraud insights from networked data across organizations
• Collaborate with industry peers
• Benefit from industry-leading data governance and security controls
• Easy integration
• Process Petabytes of data from various data sources.
Thanks to Hortonworks, we were able to deliver the objectives listed above and grow our new line of business. This solution has helped Symcor grow its business which was traditionally a leading business processing provider in Canada to an industry-leading digital and data services provider to detect and prevent current and emerging fraud.