NetGuardians secured the Swiss Commission for Technology and Innovation (CTI) Funding for the second half of the research project with the School of Engineering and Management Vaud (HEIG-VD). CTI Funding is granted following the successful completion of the mid-term research objectives.
In February 2017, NetGuardians and the HEIG-VD have joined forces in a Made-in-Switzerland research project aimed at taking machine learning and artificial intelligence (AI) technology in financial fraud detection to the next level.
As of November 2017, the research has significantly improved the machine-learning based fraud risk detection model. The accuracy of the model, which refers to the detection of fraudulent financial transactions has significantly increased, while the false positive rate has significantly decreased.
The initial results are promising and they support the main goal of this research project, which is to develop better tools that help banks achieve their ultimate goals - deliver an exceptional customer experience, strengthen operational efficiency, prevent emerging risks, and reduce costs.
Congratulations to the team!