NEWS
NTT DATA partners with Lynx to revolutionise fraud detection in financial services industry
NTT DATA , a global leader in business and technology services , has announced its strategic partnership with Lynx Tech , a revolutionary FinTech company specialising in AI-driven fraud detection .
This collaboration will leverage NTT DATA ’ s network and extensive experience in the banking and finance industry to scale Lynx ’ s innovative solutions across the UK and European markets .
Lynx identified NTT DATA as a crucial partner for scaling its operations due to NTT DATA ’ s profound expertise and past successes in the banking and financial services sector . Lynx has developed an innovative product built by a dedicated team of engineers and data scientists committed to advancing fraud prevention technologies . Lynx recognised the need for a partner like NTT DATA to successfully achieve its ambitious growth goals at pace .
This partnership will initially focus on the UK , Irish , Spanish , LATAM and DACH markets , with particular emphasis on the UK and Ireland due to the upcoming Payment Systems Regulation ( PSR ) changes in October , which will mandate banks and payment service providers to reimburse scam victims .
“ 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 .”
NatWest gives its digital assistant a Generative AI upgrade with IBM
NatWest Bank has announced the launch of Cora +, an upgrade to its digital assistant , Cora , developed in collaboration with IBM . Being one the first banks in the UK to deploy GenAI through a digital assistant .
In 2023 , Cora helped customers with 10.8 million queries in their day-to-day banking needs , an increase from just over 5 million in 2019 .
Cora + will build on current capabilities into an intelligent virtual agent that uses Generative AI to provide more intuitive , conversational customer experiences . Cora + will initially be introduced as a 12 week pilot to address learnings and updates , before we fully rolled it out at a later date .
Speaking about the launch of Cora +, Wendy Redshaw , the Chief Digital Information Officer of our Retail Bank described Cora + as ‘ a major step forward in how customers interact with NatWest .’ Redshaw continued : “ by collaborating with IBM , we have been able to build on Cora ’ s success and leverage the latest innovations in AI , and we ’ re proud to be one of the first banks in the UK to do this . Cora + will not only provide a more seamless ‘ human ’ experience , but also be a trusted , reliable digital partner for our customers .”
6 www . intelligentfin . tech