Lynx Partners with NTT Data to Scale AI Fraud Detection Business

NTT DATA, a global leader in business and technology services, 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.

Lynx’s Advanced Fraud Detection Solutions

Lynx originated from the University of Madrid twenty-five years ago, and enables leading financial institutions, including Santander, PagoNxt, BCP and Cielo to evolve from reactive to proactive fraud prevention. 

Lynx’s value proposition is AI-driven software which specialises in fraud detection and Anti-Money Laundering (AML). With its global presence, Lynx’s cutting-edge technology currently monitors 99.5% of all card transactions in Spain, 65% in Mexico, and 35% in Brazil. 

Key features and benefits of Lynx’s solutions include: 

• Daily adaptive models: These models reduce fraud and minimise disruption for genuine users by constantly evolving to detect new and sophisticated fraud attempts.
• Money Mule detection: A real-time risk model to detect inbound, fraudulent transactions, which is crucial for minimising losses once the new PSR regulations become effective.
• Lynx Flex: Being extensible allows financial institutions to submit data in their own format. This significantly reduces data mapping and professional services resources whilst enabling Lynx to evolve as new products and fraud typologies arise.
• 360-Degree Analysis: Provides a comprehensive view of customer behaviour across all channels, enhancing fraud detection accuracy.
• Multi-functional platform: A one-stop solution that allows customisation of risk thresholds, case management and real-time dashboard visualisation.

An Innovative Approach to Fraud Detection

Lynx’s solution stands out in the market due to its advanced AI and machine learning (ML), fraud and AML detection which achieve high detection rates with very few false positives. Lynx’s ability to update daily ensures it remains responsive to changing behaviours and emerging fraud tactics. 

“We are thrilled to partner with Lynx, a company that shares our commitment to innovation and excellence in the financial services industry,” said Sumant Kumar, CTO, Banking and Financial Markets | Head of Innovation, at NTT DATA UK&I. “With this new partnership, we will enhance fraud detection capabilities for banks worldwide, expanding our combined reach and ensuring safer transactions for all.”

“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.”