SwitzerlandFinance and insurance2023 – ongoingHypothekarbank Lenzburg
AI analysis of transaction data to flag fraud patterns
Hypothekarbank Lenzburg used AI to flag suspicious transaction patterns for specialists to review
Problem
A bank has to spot fraud in a large flow of transactions. Manual checks alone cannot cover all of it.
Approach
The bank used an AI system that analysed transaction data and flagged unusual patterns. Specialists then reviewed the flagged patterns. The bank also tested AI in areas with customer contact and said customers should always be told when AI is involved.
Results
No published figures
Takeaway
The bank kept people in the loop for fraud decisions. Its CEO called the system a good support in certain areas and gave no figures.
Categories
- Industry
- Finance and insurance
- Business function
- Finance, risk and legal
- Innovation type
- Process innovation
- AI technology
- Predictive analytics and ML
- Adoption
- Built in-house
- Goal
- Quality and risk
- Evidence
- Press reporting
Sources
Source summaries
SRF surveyed Swiss firms using AI. It reported that Hypothekarbank Lenzburg used AI to analyse transaction data for fraud patterns that specialists then check, and that the bank was testing AI in customer-contact areas. CEO Marianne Wildi called the system a good support in certain areas. No figures are given.
Full details are in the original sources.