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Banks Use AI to Catch Rogue Traders Before the Act

By Financial Times

April 1, 2019

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Over the past few years, banks have made significant strides in trader surveillance, embracing communication monitoring tools that look for obvious flash phrases and keywords.

About a dozen banks have deployed IBM's Watson artificial intelligence (AI) software, which they use to monitor everyday communications.

AI technology cuts down the number of "false positives" banks have to deal with under traditional systems, which flag hundreds of thousands of potential suspect messages a month.

Watson can differentiate between higher- and lower-risk alerts, allowing banks to cut through the data they receive.

In addition, banks are pulling other metrics into their surveillance systems, including human resources reviews and credit scoring reports to identify traders with either the motive, or predisposition, for rogue activity.

From Financial Times
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