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AI-Powered Real-Time Fraud Prevention Platform for a Digital Bank

acropolium

Financial services

Challenge

Acropolium Bank is experiencing increasing sophistication and volume of fraudulent activities (identity theft, account takeovers, payment scams) despite utilizing legacy rule-based fraud detection systems. These systems are struggling to keep pace with evolving threats, leading to financial losses, regulatory compliance concerns (AML/KYC), and a potential erosion of customer trust. The existing solution lacks real-time capabilities, scalability, and the ability to adapt to new fraud patterns dynamically.

About the Client

A fully digital bank offering a wide range of online financial services including current accounts, payments, lending, and cryptocurrency trading, focused on leveraging AI and embedded finance.

Objectives

Enhance real-time fraud detection capabilities to proactively identify and prevent fraudulent transactions.
Improve the scalability of the fraud detection platform to accommodate future growth in transaction volumes.
Strengthen compliance with AML and KYC regulations through automated checks and reporting.
Reduce false positives and ensure seamless service availability for customers.
Automate fraud investigation and response workflows using AI-driven analysis and behavioral insights.

Functional Requirements

Real-time anomaly detection and behavioral risk scoring.
Automated AML/KYC checks and compliance reporting.
Scalable data pipeline for processing high volumes of transactions.
API-first integration with core banking systems and third-party services.
Customizable alerting and case management dashboard.
Automated investigation workflows with AI-driven insights.
Model retraining and continuous learning capabilities.

Preferred Technologies

Azure Kubernetes Service

Azure Monitor

Docker

RESTful APIs

Prometheus

Grafana

Keycloak

TensorFlow.NET

ML.NET

Apache Kafka

Apache Spark

Integrations Required

Core banking system
Payment gateways
Third-party analytics tools

Non-Functional Requirements

High scalability and low latency.
High availability and disaster recovery.
Robust security and data protection.
Compliance with relevant regulatory standards (e.g., GDPR, PSD2).

Estimated Impact

This project is expected to result in a significant reduction in fraudulent transactions (estimated 40%), improved operational efficiency (estimated 30% increase), reduced compliance costs (estimated 25% decrease), and enhanced customer trust and satisfaction. The platform will empower Acropolium Bank to proactively mitigate fraud risks and maintain a secure digital banking environment.