Citi reveals new solution for outlier payments detection

The new solution uses advanced analytics, AI, and ML, with the aim to assist in the identification, approval, and rejection of outlier payments that don’t conform to the clients’ payment activity pattern. Moreover, the solution has already launched in 90 countries.

According to the bank, the technology utilised by Citi’s solution is expected to adjust controls to monitor discrepancies and changes in client payment behaviour. It is also designed to allow quick payment processing and identification of potential anomalies. The solution is meant to offer control and payments monitoring, reduced risk in terms of outlier payments, unique tailored customer profiles for individual payment patterns, and real-time alerts for outlier payment processing.