Trust and security: potential for AI to protect customers

Machine learning and the blockchain will potentially allow banks greater ability to trace the progress of defrauded funds along the blockchain, creating greater potential for recovery

Financial institutions are increasingly reliant on advanced security systems to maintain trust.

The global financial system is built on trust. Trust that our money will be there when we need it. Trust that when we make a transfer or pay a bill the money will go to its intended destination. Trust that our personal data is secure.

In a world of increasingly sophisticated fraudsters and cybercriminals, financial institutions are increasingly reliant on advanced security systems to maintain that trust. One technology that has been widely acclaimed for its inherent security characteristics is blockchain but its adoption by the financial services world has not been as rapid or widespread as initially expected.