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Cyber Fraud Attended using AI and Humans

During Covid-19, fraudulent behaviour has increased in tandem with a global shift toward digital services. Our Managing Partner, Alexandre Zeller, who leads our Technology & Operations Unit, explains that the pandemic has reinforced our belief that technology is critical, and that banks have become more interconnected, developed more diverse tools, and created various means of communication in order to meet clients’ ever-changing needs.

We harness the power of technology to offer pioneering solutions at Lombard Odier, guided by our Rethink Everything attitude. The cornerstone of our business is preserving and developing our clients’ assets. As a result, we strive to employ the most advanced Cyber and fraud-prevention technology available.We’ve been putting in place strong security measures to combat Cyber fraud for years.

However, in order to combat fraudsters’ ingenuity, we needed to step up our game and become even more imaginative, embracing cutting-edge technologies such as artificial intelligence (AI). We use AI to more effectively identify irregular payments and safeguard the Bank from fraudsters’ growing sophistication to ensure that our unique banking platform contains the latest fraud protection tools to secure our clients and their assets.We teamed with NetGuardians in 2021, and their leading AI-based fraud prevention system can detect both established and emerging online payment fraud tendencies.

Artificial intelligence helps combat payment fraud with this technology, for example, by making it simple to detect suspect patterns of behaviour or odd payments to protect clients’ assets. Our cooperation with NetGuardians is one of true partnership, in which we learn from one other and work together to reach our common goals and succeed.A hybrid strategy, we believe, is essential. Our mission is to achieve the greatest results by integrating human knowledge and digital intelligence. We will combat Cyber fraud by strengthening human capacity with cutting-edge technology.

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