AI Case Study

Danske Bank prevents card fraud with the use of machine learning

Danske Bank has leveraged machine learning technology to fight fraud across all its payment channels. Featurespace's ARIC Fraud Hub prevents fraud by detecting anomalies in a user's behavioural profile, in real time. The bank is mitigating the risk while also eliminating false positives to offer greater customer experience.

Industry

Financial Services

Banking

Project Overview

"Following an extensive research process and comprehensive evaluation of multiple vendors, Featurespace’s ARIC™ Fraud Hub was chosen as the best solution to mitigate card fraud at the customer level in real time and across all channels, while also giving customers the best experience by reducing the number of false positives."

Reported Results

Results undisclosed

Technology

"The ARIC Fraud Hub – which is deployed in some of the world’s largest banks, payment processors and merchant acquirers – uses machine learning to build and monitor individual behavioural profiles in real time to detect anomalies and prevent fraud across all payment methods and channels, as it occurs."

Function

Risk

Security

Background

"Danske Bank, the largest bank in Denmark and leader in the northern European financial markets, has selected Featurespace, the leading machine learning Adaptive Behavioural Analytics fraud prevention company, as its strategic provider to bolster its fraud mitigation capabilities."

Benefits

Data

Historical data on user behaviour