From buzzword to reality: how to successfully apply AI models to prevent banking fraud

Some 20 years since the first academic papers were published on AI’s potential to detect fraudulent banking transactions, systems applying this technology are now in use in a growing number of banks. These systems monitor banking transactions in real time, blocking those that are judged likely to be frauds in the milliseconds before funds leave the victim’s account.

However, there are major challenges that must be overcome to successfully apply AI to prevent fraud. Any AI-based system must be capable of combining the best of machines and humans: intelligent automation that continually learns from the experience and insights of its human users.

With this context, we are bringing together a panel of Europe’s top banking leaders who will share their insights on AI and banking fraud prevention.

Agenda:

• The challenges of implementing AI-based systems for banking fraud
• How different AI techniques can be combined to overcome these challenges
• Ways to meet the regulatory requirement for “explainable AI”
• Latest fraud types that AI can detect and prevent
• Benefits and results of using an AI-based system