We’re excited to share that Lynx has won the Anti-Fraud Solution of the Year award at the 2025 FSTech Awards, a celebration of financial services innovation in the UK and EMEA. This award is a significant validation of our AI-driven fraud prevention technology and the Lynx team’s dedication to closely partnering with our customers in the fight against financial crime.
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. Organised crime groups target FIs and their customers, adapting attack methods across payment channels to bypass fraud detection systems, with authorised 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.
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 analyse 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. They are tailored to each FI’s transaction environment and risk appetite for optimised risk scoring. Lynx Flex empowers FIs to add 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.
Technology is only successful with the right group of people to develop, utilise, 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.
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 behaviour 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 honoured to work alongside exceptional global organisations that protect the integrity of the global financial system.
Together, we will revolutionise the fight against financial crime.
The Payments Association
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© Copyright 2024 The Payments Association. All Rights Reserved. The Payments Association is the trading name of Emerging Payments Ventures Limited.
Emerging Ventures Limited t/a The Payments Association; Registered in England and Wales, Company Number 06672728; VAT no. 938829859; Registered office address St. Clement’s House, 27 Clements Lane, London, England, EC4N 7AE.
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