ING Netherlands deploys ThetaRay’s fraud detection solution

ING Netherlands has selected ThetaRay's Advanced Analytics Solution to identify fraudulent behaviour.

ING Netherlands deploys ThetaRay’s fraud detection solution

The Israel-based technology vendor said that integrating its technology with ING’s standing risk engine will allow the lender to rectify new instances of SME lending fraud hidden within transactional and organisational data – in real-time and with industry-low false positives.

ThetaRay said that its multi-domain big data analytics platform will allow the bank to identify lending fraud, ATM hacks, money laundering and cyber attacks, and uncover opportunities to boost revenue through increased loans and optimised mortgage assurance levels.

The platform’s mathematical algorithms will help the lender to process multiple parameters simultaneously and reveal unknown threats across multiple environments, systems and sources in real-time, the technology provider added.

ING Netherlands director of fraud & cybersecurity Beate Zwijnenberg said: “ThetaRay impressed us during a recent proof of concept by rapidly identifying a number of transactional anomalies. The ability to detect fraudulent activity with this level of precision and accuracy is truly innovative.”