Close Menu
  • Home
  • Ratings
  • Showbiz News
  • Horoscope
  • Tech Jungle
  • BRAND NEWS
  • Movies
  • Music
  • About
    • BE PART OF THE LIONHEARTV FAMILY!
    • THE PRIDE
    • ADVERTISE AT LIONHEARTV
What's Hot

Rendon Labador claps back after Diwata names pet dog after him

May 19, 2025

Spurs’ Jeremy Sochan supercharged vivo’s 3×3 Basketball Challenge Year 3 Grand Finals

May 19, 2025

Puregold Channel ‘Si Sol at si Luna’—The Series That Hits Different

May 19, 2025
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram YouTube TikTok
LionhearTVLionhearTV
  • Home
  • Ratings
  • Showbiz News
  • Horoscope
  • Tech Jungle
  • BRAND NEWS
  • Movies
  • Music
  • About
    • BE PART OF THE LIONHEARTV FAMILY!
    • THE PRIDE
    • ADVERTISE AT LIONHEARTV
LionhearTVLionhearTV
Home»Press Release»UnionBank improves fraud detection rate, turnaround time with AI
Press Release

UnionBank improves fraud detection rate, turnaround time with AI

Lion's DenBy Lion's DenJanuary 9, 2024No Comments2 Mins Read
Share
Facebook Twitter Reddit Pinterest Email

Union Bank of the Philippines (UnionBank) recently conducted a study to test a new method that uses artificial intelligence (AI) and graph analytics to detect fraudulent transactions more efficiently, leveraging the Bank’s capabilities to better safeguard its customers.

Developed by UnionBank’s Artificial Intelligence and Innovation Center of Excellence team, the new method provided nuanced insights into fraud which can potentially improve systems to effectively mitigate financial risks and enhance decision-making processes, making them more accurate, faster, and efficient.

UnionBank used graph analytics to scrutinize the intricate relationships between transactions. For instance, fraudsters often involve intermediary accounts to secretly facilitate money laundering across a network.

By expanding their analysis to three degrees of connection instead of just the first degree, the Bank was able to gain a more comprehensive understanding of the risks associated with different fraudulent activities.

“Examining the influence of an account within a network is one pattern we seek to identify. The technique we employed to assess this is by measuring its centrality,” said UnionBank Data Scientist, Abigail Antenor.

This approach allowed the Bank to quantify the number of connections associated with each account, identify those acting as middlemen, and evaluate their proximity to other accounts to determine the speed of fund transfers. Subsequently, they studied how these measures correlate with fraud in different degrees of connection previously mentioned, to determine which indicator is most relevant in those scenarios.

Tailoring fraud indicators to each degree proved effective, as results showed that 19% more fraudulent transactions were detected by applying fraud indicators to include second and third degrees, with 80% saved for the turnaround time.

This breakthrough is timely, as fraudsters are continuously becoming more innovative in executing attacks, especially those directed at banking systems and their customers.




“With this, we have further proven that AI can significantly augment our ability to spot patterns in transaction flows, detect malicious activities, and prioritize suspicious accounts for further investigation,” said Dr. Adrienne Heinreich, UnionBank Head of AI Center of Excellence, Data and AI Group.

Comments

Abigail Antenor Artificial Intelligence Data and AI Group Dr. Adrienne Heinreich improves fraud detection rate Innovation Center of Excellence team turnaround time with AI Union Bank of the Philippines (UnionBank) UnionBank UnionBank Data Scientist UnionBank Head of AI Center of Excellence
Share. Facebook Twitter Pinterest LinkedIn Reddit Email
Previous Article‘Cant’ Buy Me Love,’ ‘Senior High’, ‘Fractured’ win respective timeslot on New Year’s day
Next Article Take A Snap in Style with the upgraded camera of the OPPO’s Find N3 Flip
Lion's Den
  • Website
  • Facebook
  • X (Twitter)
  • Instagram

LionhearTV has always believed in what the everyday reader can contribute, and has always been open to receiving input, help, or leads on stories. Readers are always encouraged to drop us their thoughts either by either by leaving a comment on a post, or contact us directly – email us at lionheartvnet@gmail.com.

Related Posts

Spurs’ Jeremy Sochan supercharged vivo’s 3×3 Basketball Challenge Year 3 Grand Finals

May 19, 2025

Puregold Channel ‘Si Sol at si Luna’—The Series That Hits Different

May 19, 2025

Sun Life Philippines wins in the Asia-Pacific Stevie Awards

May 19, 2025

HUAWEI Unveils Next-Gen Wrist Tech with Flagship Wearables at Innovative Product Launch 2025 in Berlin

May 19, 2025
Add A Comment

Comments are closed.

Find us on Facebook
Blogmeter.Top



Trending

ABS-CBN halves net loss in Q1 2025 amid election boost and BINI success

May 17, 2025

OFFICIAL STATEMENT: Fraudulent Use of LionhearTV’s name in Online Scams

May 14, 2025

Celebrity Flops: Unexpected Senate Race Outcomes in 2025 Midterm Elections

May 13, 2025

Leni Robredo makes history as Naga City’s first Female Mayor

May 13, 2025

‘Encantadia’ at 20: A Magical Legacy That Endures

May 2, 2025
Showbiz News

Rendon Labador claps back after Diwata names pet dog after him

May 19, 2025

Kim Chiu grateful for Box Office milestone of ‘My Love Will Make You Disappear’

May 19, 2025

Vice Ganda’s Witty Jab at ‘Chinita’ Obsession Sparks Laughter and Reflection

May 19, 2025

Yen Santos regains confidence after losing 21kg in just two months

May 19, 2025

Senator-elect Bam Aquino Wins Hearts with Kim Seon-ho Smile Challenge

May 19, 2025
Most Viewed

Rendon Labador claps back after Diwata names pet dog after him

May 19, 2025

Spurs’ Jeremy Sochan supercharged vivo’s 3×3 Basketball Challenge Year 3 Grand Finals

May 19, 2025

Puregold Channel ‘Si Sol at si Luna’—The Series That Hits Different

May 19, 2025

Kim Chiu grateful for Box Office milestone of ‘My Love Will Make You Disappear’

May 19, 2025

Sun Life Philippines wins in the Asia-Pacific Stevie Awards

May 19, 2025
eMVP Digital is an online empire that useful pieces of information and a resource for a daily dose of entertainment in all forms. It produces LionhearTV.net, Dailypedia.net, RAWR Awards, RAWRMag, DailyPIPOL, and Broken Lion. These platforms have a highly-engaged audience per month, which varies from ages and sexes.



Blogmeter.Top
© 2025 LionhearTV.net.
  • Home
  • Ratings
  • Showbiz News
  • Horoscope
  • Tech Jungle
  • BRAND NEWS
  • Movies
  • Music
  • About
    • BE PART OF THE LIONHEARTV FAMILY!
    • THE PRIDE
    • ADVERTISE AT LIONHEARTV

Type above and press Enter to search. Press Esc to cancel.