The Mercurial Fraud and Financial Crime Landscape

Financial institutions (FIs) grapple with complex, interconnected fraud and financial crime challenges. Real-time payment channels and transactions facilitate seamless economic activity and enhanced customer experiences but also bring real-time threats. Organized crime groups target FIs and their customers, adapting attack methods across payment channels to bypass fraud detection systems, with authorized push payment fraud (APPF), account takeover (ATO) fraud, and AI-enabled deep fake scams.

The scale and volume of fraud are enormous: global fraud losses exceeded $485 billion in 2023, with $3.1 trillion in illicit funds flowing through the global financial system. Static and inflexible fraud prevention solutions are no longer sufficient. Adaptable, real-time fraud detection is essential for FIs facing mercurial real-time threats.

Staying a Step Ahead of Fraudsters with Daily Adaptive Models and Lynx Flex
Lynx’s award-winning Fraud Prevention solution is powered by Daily Adaptive Models (DAMs), machine learning models that update daily with the latest transaction and fraud data to deliver highly accurate real-time detection even as payment methods and fraud patterns change. DAMs analyze hundreds of thousands of data points in milliseconds, enriching transactions with proprietary feeder data from onboarding and customer accounts for a comprehensive view of transactions, channels, and users. Trained using supervised machine learning algorithms, our models learn from prior fraud cases for enhanced detection accuracy with fewer false positives.

DAMs are highly flexible and configurable to meet the ever-evolving fraud landscape, tailored to each FI’s transaction environment and risk appetite for optimized risk scoring. Lynx Flex empowers FIs to add new payment channels in under 60 minutes, propagating new data fields to models, rules, and reports for comprehensive multi-channel fraud detection.

The results are clear. Our clients, including Santander UK, Cielo, and BCP Peru, experience an average 80% Fraud Value Detection Rate (VDR) at fewer than 10 false positives per 10,000 transactions, and 99.99% of transactions are processed in ~50ms*. Lynx’s speed, accuracy, and flexibility drive millions in fraud savings annually per institution.

Customer Success Founded on Dedication, Trust, and Collaboration
Technology is only successful with the right group of people to develop, utilize, support, and adapt it. Lynx’s market leadership in fraud prevention is rooted in both artificial intelligence and human intelligence: innovative AI models paired with a dedicated, collaborative team of industry and academic experts in AI and fraud prevention.

The Lynx team works closely with customers to develop partnerships founded on trust, addressing their most pressing challenges. Whether we’re addressing emerging fraud threats for issuers, acquirers, retail banks, or corporate and investment firms, we take a hands-on approach to deliver tailored and comprehensive real-time fraud detection across key channels for each company.

Pioneering the Future of Fraud and AML, Together
Looking to the future, Lynx remains dedicated to developing cutting-edge AI technologies that safeguard global financial services. We will continue to address real-time threats with real-time detection- from fraud prevention to financial behavior analysis for money mule detection to AI-powered AML name screening -informed by customer trust, transparency, and partnership.

As we build towards our pioneering vision of an integrated fraud and AML platform, we’re honored to work alongside exceptional global organizations who are protecting the integrity of the global financial system.

Together, we will revolutionize the fight against financial crime.

*Known performance where connection is TCP/IP socket and the solution is on-premise