NetGuardians tapped by Swiss financial institution LUKB to spice up fraud prevention

Anti-fraud regtech NetGuardians has been chosen by Swiss retail banking group Luzerner Kantonalbank AG (LUKB) to spice up its fraud prevention programs.

NetGuardians tapped by LUKB for anti-fraud software program

LUKB will deploy NetGuardians’ AI-powered fraud mitigation software program because it appears to be like to shore up its defences in opposition to cost fraud.

The software program creates correct profiles of financial institution prospects permitting it to identify suspicious transactions or different actions with a excessive diploma of accuracy.

NetGuardians claims its tech cuts calls to prospects by 85% and helps scale back working prices by greater than 75%.

NetGuardians’ international head of gross sales and advertising Thierry Divenot says its anti-fraud software program will assist shield LUKB’s prospects from harmful criminals.

“Cybercriminals have gotten extra subtle and decided, more and more utilizing human psychology and know-how to assist them industrialise their assaults,” Divenot provides.

A few of these subtle assaults the corporate goals to guard in opposition to embrace ‘CEO fraud’, the place criminals ship emails apparently from senior administration ordering a cost, in addition to funding scams, phishing assaults and social engineering.

NetGuardians says its fraud safety software program is helping banks across the world shield greater than $7 trillion in property. The agency is the fraud prevention companion of main banking software program corporations together with Finastra, Avaloq, Mambu and Finacle.

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