LUKB is implementing NetGuardians’ AI-based fraud-mitigation software as part of its defences against payment fraud. The software builds up accurate profiles of a bank’s customers, allowing it to spot suspicious transactions with a high degree of accuracy. This means fewer calls to customers to verify payments, helping to cut costs and improve the customer experience.
According to the official press release, the software is effective at spotting and stopping fraudulent payments that result from prevalent scams such as CEO fraud – where criminals send emails apparently from senior management ordering a payment – as well as investment scams, phishing attacks, and social engineering.
NetGuardians is a fintech helping financial institutions in over 30 countries to fight fraud. More than 80 banks and wealth managers rely on NetGuardians' 3D artificial intelligence (3D AI) solution to prevent fraudulent payments in real time.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.