Lynx, a leading provider of AI software for detecting and preventing fraud and financial crimes, has been recognized as Best of Breed in the Name and Transaction Screening Solution in the 2024 Chartis RiskTech Quadrant® for Name and Transaction Screening Solutions.
NTT DATA Partners with Lynx to Revolutionise Fraud Detection in the Financial Services Industry
The partnership will help ensure banks and other financial institutions across the UK and Europe have access to Lynx’s advanced, AI-powered solutions to combat fraud and financial crime.
Lynx
Lynx’s Advanced Fraud Detection Solutions
Lynx originated from the University of Madrid twenty-five years ago, and enables leading financial institutions, including Santander, PagoNxt, BCP and Cielo, to evolve from reactive to proactive fraud prevention.
Lynx’s value proposition is AI-driven software which specialises in fraud detection and Anti-Money Laundering (AML). With its global presence, Lynx’s cutting-edge technology currently monitors 99.5% of all card transactions in Spain, 65% in Mexico, and 35% in Brazil.
Key features and benefits of Lynx’s solutions include:
- Daily adaptive models: These models reduce fraud and minimise disruption for genuine users by constantly evolving to detect new and sophisticated fraud attempts.
- Money Mule detection: A real-time risk model to detect inbound, fraudulent transactions, which is crucial for minimising losses once the new PSR regulations become effective.
- Lynx Flex: Being extensible allows financial institutions to submit data in their own format. This significantly reduces data mapping and professional services resources whilst enabling Lynx to evolve as new products and fraud typologies arise.
- 360-Degree Analysis: Provides a comprehensive view of customer behaviour across all channels, enhancing fraud detection accuracy.
- Multi-functional platform: A one-stop solution that allows customisation of risk thresholds, case management and real-time dashboard visualisation.
“We are thrilled to partner with Lynx, a company that shares our commitment to innovation and excellence in the financial services industry,” said Sumant Kumar, CTO, Banking and Financial Markets | Head of Innovation, at NTT DATA UK&I. “With this new partnership, we will enhance fraud detection capabilities for banks worldwide, expanding our combined reach and ensuring safer transactions for all.”
“Our collaboration with NTT DATA marks a significant milestone for Lynx,”
said Lucy King, Director of Global Alliances, at Lynx.
“By coupling NTT DATA’s extensive industry experience with our cutting-edge solutions, we are poised to transform the landscape of fraud prevention across the financial services industry.”
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