United KingdomFinance and insurance2021 – ongoingHSBC
Dynamic Risk Assessment for financial-crime detection
HSBC reported finding 2 to 4 times more financial crime with AI
Problem
HSBC's transaction checks generated false alarms that required investigations and unnecessary customer calls.
Approach
HSBC co-developed Dynamic Risk Assessment with Google and piloted it in 2021. The bank used the AI system to check transactions for financial crime and updated it as criminal tactics changed.
Results
2 to 4 timesmore financial crime found than previously, according to HSBC
60%fewer false-positive cases, according to HSBC
Takeaway
HSBC reported both increased detection and fewer false alarms. These figures were the bank's own assessment.
Categories
- Size
- Large enterprise
- Industry
- Finance and insurance
- Business function
- Finance, risk and legal
- Innovation type
- Process innovation
- AI technology
- Predictive analytics and ML
- Adoption
- Partner co-development
- Evidence
- Company's own claim
Sources
Source summaries
[1]HSBC10 Jun 2024
HSBC's financial-crime chief described its system developed with Google. She reported increased detection and a 60% reduction in false-positive cases.
Full details are in the original sources.
Added 1 Nov 2026 · Updated 1 Nov 2026