Nine British Banks Sign Up to New AI Tool for Tackling Scams
- TSB, Lloyds, Halifax, Natwest and Bank of Scotland use tool
- TSB estimates system could save UK banks £100 million per year
This article is for subscribers only.
Mastercard Inc. is selling a new artificial intelligence-powered tool that helps banks more effectively spot if their customers are trying to send money to fraudsters.
Nine of the UK’s biggest banks, including Lloyds Banking Group Plc, Natwest Group Plc and Bank of Scotland Plc, have signed up to use the Consumer Fraud Risk system, Mastercard told Bloomberg News.