AI for banking fraud prevention

โดย NetGuardians

AI fraud prevention platform for payment fraud, digital banking fraud and internal fraud.

With traditional methods and rule-based solutions in the market, too many false positives are generated, and fraud detection is reactive. NetGuardians’ AI platform NG|Screener detects fraudulent transactions in real-time, reduces the number of false positives by 83%, fraud management time by 93%, discovers new fraud types, and reduces fraud losses.

Using NG|Screener’s pre-defined AI risk models, banks are able to tackle:

  • PSD2 and SWIFT CSP transaction monitoring requirements
  • Payment fraud challenges by detecting suspicious payments coming from social engineering techniques or scams such as invoice redirection, love scams, CEO-fraud and others
  • Digital banking fraud challenges by identifying suspicious transactions coming from eBanking sessions redirected by malwares, eBanking sessions hijacked by remote hackers, eBanking transactions resulting from identity theft and others
  • Internal banking fraud challenges by detecting suspicious transactions coming from employee collusion, client advisor by-passing internal controls and others

NG|Screener transaction scoring module enables transaction blocking within the core banking (pre-defined interface with already available major core banking providers) or within the transaction processing system of the bank. When a fraudulent transaction is detected, the transaction is blocked and an alert is generated in real-time and routed to the relevant stakeholders through a customized workflow. An integrated case manager ensures appropriate investigation procedures using NG|Screener risk dashboard and forensics tools.

We work closely with Microsoft to helps banks prevent fraud while taking advantage of the AZURE cloud environment.

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