The technology, dubbed ‘the Rat’, looks for signs of unusual and suspect behaviour when people log into its banking services. It acts in real time behind the scenes to prevent customers losing money. The Rat went live at the end of 2018, and has already prevented more than 2,100 customers falling victim to a scam. If the solution spots the tell-tale signs of fraud, Lloyds will freeze the customer’s account, preventing funds from being lost, and contact the customer.
The Rat uses behavioural analysis to decide whether someone logging in is really a customer or a fraudster, and it seek out giveaway signs that do not match a customer’s normal routine. Also, in case of suspect activity is detected, the Rat looks at whether the customer’s computer is being accessed remotely.
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