Spain’s CaixaBank has collaborated with anti-phishing company Revelock to build an AI-powered solution to counter fraud in digital banking.
This technology has already been integrated into CaixaBank’s online banking platform, CaixaBankNow, and will detect anomalies in a customer’s usual habits and behaviour during online transactions. The solution continuously monitors online interactions and compares them with risk patterns to identify fraudulent activity.
The bank has been working with Revelock on security and anti-fraud solutions since 2015.
CaixaBank said this deal is part of a wider strategy to identify key talent and bolster innovation.
Last year, CaixaBank released ATMs equipped with facial recognition technology to help consumers access their money without needing to enter their PIN.
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