How HSBC Uses AI To Boost Its Digital Banking Immune System

  • “‘You have billions and, in some cases, trillions of transactions across global networks,’ Balkin said. “Finding a needle in a haystack, as it were, is done most effectively using the power of AI to look through massive data sets.”
  • AI-generated fraud alerts that go directly to customers’ smartphones also put them on the front lines of helping their banks fight fraud.
  • “The best person to determine whether there was a [fraudulent activity], for example, on a credit card, is the customer,” he said. “Technology like AI can deliver a superior customer experience and a safer customer experience by putting the power literally in the palm of customers’ hands.”
  • This connection between AI systems and human beings can give banks the tools they need to keep their networks immune from fraudulent activity.”

https://www.pymnts.com/news/digital-banking/2019/hsbc-ai-machine-learning-immune-system/

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