NatWest and Vocalink use machine-learning to tackle invoice redirection fraud

Finextra

“NatWest claims to have saved its corporate clients over £7 million through the use of a purpose-built system to detect and prevent invoice redirection fraud – where businesses are duped into paying money into a fraudster’s account rather than to their intended supplier.Vocalink Analytics and NatWest worked together to develop, test and launch Corporate Fraud Insights, which uses AI and machine-learning techniques to identify and flag suspicious non-real time payments. “