Temenos rolls out AI-based solution to combat fraud in real-time

The Temenos FCM product range uses filtering techniques and advanced analytic capabilities to enable over 100 clients globally such as UBS upgrade their capabilities, reduce their manual processes and meet their clients’ expectations of digital banking services.

The new Suspicious Activity Prevention capability includes surveillance and analytical capabilities, sanctions screening, anti-money laundering, enhanced due diligence (KYC) and now fraud. The new module uses a combination of AI-based, self-learning algorithms and expert business rules to block suspicious transactions based on real-time behavioural analysis, allowing clients to identify and trap fraudulent and money laundering transactions as they occur. 

Moreover, it builds customer profiles to detect and stop suspicious transactions that deviate from normal and expected behaviour. The Suspicious Activity Prevention module is configurable by any designated bank official, offering control to the business.