Real-Time Fraud Detection for Online Banking

FraudGuard partnered with a leading bank to implement an AI-based fraud detection system. The system analyzed millions of transactions daily, using deep learning to identify patterns indicative of fraud, such as unusual spending or account access from new locations. By integrating with the bank’s existing infrastructure, FraudGuard reduced false positives by 60%, minimizing customer disruptions. The solution saved the bank an estimated $10 million annually by preventing fraudulent transactions. Key challenges included handling high transaction volumes, addressed through scalable cloud-based processing.