Danske Bank, Teradata deploy AI to monitor fraud

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OCTOBER 23, 2017

From fighting financial fraud, reducing the time to find lost packages to optimising how ships approach the harbour, were some of the artificial intelligence and data analytics-based innovations showcased by Teradata, a leading data and analytics company.

The Ohio-based company said that Danske Bank, a financial services leader in the Nordics, has worked with Think Big Analytics, a Teradata firm, to create and roll out a state-of-art artificial intelligence (AI)-driven fraud detection platform. It uses machine learning to analyse tens of thousands of potential features, scoring millions of online banking transactions in real-time to provide actionable insights about any fraudulent activity. By significantly reducing the cost of investigating false-positives, the company said Danske Bank increased its overall efficiency and is now poised for substantial savings.