Danske Bank, Teradata deploy AI to monitor fraud


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.