Launch Credit Union prevents over $3.5 million in fraud losses with RembrandtAi real-time detection

Launch Credit Union's fraud team found that traditional batch fraud detection was not working, because fraud happens in real time and batch systems can take hours or even days to flag suspicious activity. Check fraud through remote deposit capture, ATM deposits and in-branch deposits was a major threat, with criminals targeting elderly members through online scams and persuading them to deposit fraudulent checks. Fraudsters also deposited checks just below the detection threshold and tricked members by phone into mailing out their debit cards.

Launch moved from batch fraud processing to real-time detection supported by AI, integrating RembrandtAi, an AI-driven fraud detection system that provides real-time alerts. RembrandtAi integrates with the core banking system and online banking, and it lets the fraud team adjust detection rules in seconds. The team monitors transaction trends in real time and adjusted its check threshold within seconds once it noticed deposits sitting just below it. It also set real-time alerts on suspicious ATM withdrawals that compare the transaction location with the member's actual location, so the card can be blocked before more funds are stolen.

Launch Credit Union prevented more than $3.5 million in total fraud losses in 2024, including $2.9 million in check fraud losses and $88,000 in card fraud losses. Check fraud losses that did occur were reduced to $34,000 in 2024. The credit union's AVP of BSA/Fraud attributes the check fraud savings to being able to adjust detection rules in seconds with RembrandtAi.

• Moving from batch processing to real-time detection lets a fraud team respond to new tactics as they emerge.
• Rules that can be changed within seconds help close gaps such as deposits that sit just below a threshold.
• Real-time alerts that compare ATM activity with the member's actual location can stop social-engineering scams early.