NTT DATA teams up with Lynx Tech

Artificial intelligence software provider Lynx has formed a strategic collaboration with NTT DATA to utilize its network and insights to scale solutions across the UK and EU markets. This partnership aims to leverage NTT DATA’s experience in the banking and finance sectors.

Lynx will use a dedicated team of engineers and data scientists to advance fraud prevention technologies. The primary focus will be on the UK, Ireland, Spain, Latin America, and the DACH region, with special emphasis on the UK and Ireland due to upcoming Payment Systems Regulation (PSR) modifications in October 2024.

Lynx aims to provide adaptive fraud prevention models that continuously evolve, minimizing fraud and user disruption. Furthermore, the company plans to include Money Mule detection to identify fraudulent transactions in real-time.

NTT DATA and Lynx share a commitment to optimize fraud detection solutions globally. The partnership seeks to enhance security in financial transactions and expand their merged reach across the financial services industry.

Shortly preceding this partnership, Lynx announced the launch of its Lynx Mule Account Detection product, aimed at mitigating organized crime and safeguarding consumers from fraud. This real-time solution is designed to optimize how financial institutions protect their clients.

Source: NTT DATA teams up with Lynx Tech.