PAYMENT FRAUD DETECTION

Expose deception and accelerate payments with AI for payment fraud detection

Identify and stop criminals in real-time with enterprise-wide, AI-powered fraud detection analytics—and prevent fraud at the source.

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Screenshot of SymphonyAI Investigation Hub showing a personal subject John Rolands with high risk. The Detections tab displays an AI Investigation Summary with placeholder text. Under Payment Fraud, five on-hold payments of EUR 25,000 each for account Acc-532-0116 are listed with directions, responses, origination dates, scores, and counterparty country USA. A green notification confirms 'Payment Release Sent.' A Score Details popup shows three scenarios each scoring 50 in International and Counterparty groups.
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Protecting brands with payment fraud detection

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55%

Reduction in false positives

50%

Increase in payment fraud detection

<50ms

Detection and scoring latency

When criminals access accounts, customers are angry, regulators critical, and reputations damaged. SymphonyAI’s payment fraud solutions outpace the volume, speed, and sophistication of fraud and outperform antiquated security measures.

Screenshot of SymphonyAI Investigation Hub showing detailed payment fraud investigation for John Rolands with very high subject risk, including unusual payments with payment IDs, account IDs, base amounts, debit/credit status, response status, origination date, scores, and counter-party countries, along with options to block or release payments and tabs for recent and historical payments.SymphonyAI Investigation Hub interface showing Disclosure ID 1022 marked In Review, with source investigator John Rolands and assignee Alex Fergusson. Tabs include All, Narrative, Customers, Accounts, and Transactions. The Narrative tab contains placeholder text. Customers section lists one customer, John Rolands. Accounts section lists three accounts with names and IDs. A popup window titled Initiate Disclosure has a dropdown for Disclosure Type set to FinCEN SAR and a Confirm button.Screenshot of SymphonyAI Investigation Hub showing a personal investigation for John Rolands with a high subject risk. The AI Investigation Summary describes John Doe as a retail customer and tailor from Canada with a $240,000 annual deposit and $25,200 annual debit activity. The AML section lists daily detections of several cash deposits with outcomes marked unusual or not unusual. On the right, an AI Copilot chat displays a user query about suspicious foreign credits, with an AI response confirming a suspicious $65,000 credit linked to John Doe of the Cayman Islands, convicted of bank fraud, and details of an outgoing wire transfer labeled 'loan repayment'.SymphonyAI Investigation Hub interface showing Teams Management and an Investigations Worklist overlay. The Teams Management section lists team names, descriptions, and queues such as AML Eur L1 Team and Customer Screening L1 Team. The overlay displays a worklist with columns for Subject ID, Subject Name, Subject Type, Financial Crime Type, and Subject Risk, listing entries like John Rolands and Kingsley & Sons with risk levels from Very High to Medium. A blue button labeled 'Create Team' is visible above the overlay.
Increase payment fraud detection by 50%
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Access out-of-the-box rules and models for immediate results. SymphonyAI’s library includes 45+ scenarios such as romance scams, account takeovers, and money mule schemes.

Keep regulators satisfied
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Outpace regulations and demonstrate compliance with simplified workflows, reporting, and models. SymphonyAI’s financial crime prevention solutions evolve with mandates.

Improve financial crime prevention effectiveness
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Enable investigators to make concise, confident decisions based on key contextual information. SymphonyAI’s payment fraud solutions process alerts quickly and effectively.

Coordinate enterprise-wide payment fraud prevention
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Create a cohesive strategy. Payment fraud solutions from SymphonyAI support your organization with a single, enterprise-wide deployment.

PRODUCTS
Payment Fraud
Entity Resolution
SRI Investigation

Fight back faster and smarter with advanced behavioral fraud detection that significantly reduces losses, keeps your customers safe, and monitors cross-channel activity to keep your entire payment ecosystem protected.

Learn more
User interface showing a detection and alert management dashboard with tables listing alert details such as Alert Identifier, Type/Sub-Type, Description, Age in days, Assigned To, Main Customer, Customer Segment, Customer Previously Reported, Case Name, and Priority marked as High. Buttons labeled Suspicious and Not Suspicious are visible, along with a second table showing columns Score, Time Period, Event Date, Reason, and Scenario Name with a weekly event dated 27/10/2023.

Seamlessly integrate into every detection and investigation solution to resolve disconnected data across your AML ecosystem. Entity Resolution analyzes and connects diverse records from internal and external data sources, so you achieve a real-world, single-entity view of your customers.

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SymphonyAI’s Entity Resolution is a pre-packaged, out-of-the-box financial crime prevention solution that delivers immediate results. Enable investigators to visualize complex customer networks and surface hidden relationships. Create a single subject for risk investigations and resolve duplicate records in minutes—not hours.

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Screenshot of a customer relationship management system showing alerts for customer Sarah Winters. The interface lists two alerts: one for suspicious AML activity and one for CDD odd activity with high risk score. A network graph highlights Sarah Winters at the center, linked to alerts and associates Emily Schwarz, Michael Johnson, Kathy Howard, and another Michael Johnson with unknown relationship. Icons for the user and analytics are on the right side.

Consolidate your enterprise-wide risk and compliance tech stack with a single platform that grants investigators a holistic view of customer behavior. SRI Investigation is the financial crime prevention and investigation force multiplier.

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SymphonyAI’s SRI Investigation is a next-gen case management system that’s 100% compatible with all third-party detection systems. Partnered with the SRI Copilot generative AI assistant, financial crime prevention is accelerated, manual reviews are reduced by 30%, investigator consistency is improved, and anti-money laundering efforts are simplified.

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User interface screen from SymphonyAI Investigation Hub showing detailed profile for John Rolands Inc., including company info, financials, contact details, tax info, geographical profile, machine learning risk scores, and subject details like employment status and relationships, alongside a map popup pinpointing 228 Webster, Palo Alto, CA 94301, United States.
Utilize our deep domain knowledge to protect your customers

With 25+ years of experience developing market-leading payment fraud products, SymphonyAI is a partner to the world’s largest financial institutions.

Investigate and understand the full customer lifecycle

Cover the complete customer lifecycle and integrate your data with a single solution for anti-money laundering efforts and your entire compliance ecosystem.

Transform your capabilities with predictive and generative AI

Enhance your payment fraud prevention efforts with industry-leading predictive and generative AI, and supervised and unsupervised machine learning.

Connect enterprise-wide payment fraud prevention efforts

Tear down the silos that inhibit investigators with complete, scalable payment fraud and financial crime prevention solutions for your entire organization.

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EUROPEAN BANK
Leading European bank saves €3.5m per year

A leading bank was looking for a high-scalable case manager to deal with the increasing complexities of global operations and support investigators in efficiently navigating compliance requirements.

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SymphonyAI’s SRI Investigation was chosen for its infrastructure and ability to connect and consolidate risk. With a single, subject-centric view for financial crime investigations, it proved to be an invaluable AI assistant for the bank, improving investigation quality and resulting in approximately 20% effort savings within the first few weeks of use.

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U.S. REGIONAL BANK
Large Bank Prevents Payment Fraud with SymphonyAI

In the preceding year, a large U.S. regional bank saw a 140% uptick in attempted payment fraud attacks, specifically for wire and SWIFT transactions. The bank needed a solution that protected large payments settled quickly.

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Upon implementing Payment Fraud, financial crime prevention was enabled at the source. The solution provided a safer and faster customer journey. By arming the team with real-time information, they were empowered to identify and counter threats instantaneously.

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Remarkably, the bank has experienced several ‘no payment fraud loss’ months—an exceptional achievement given the volume of transactions they process.

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RiskTech 100 2023 logo with stylized upward arrows inside a partial circle and text reading Payment Risk Solutions.
Chartis Financial Crime and Compliance50 2024 logo with a shield and padlock icon, featuring Symphony AI GenAI Initiatives text.
Circular diagram titled 'Dynamic Scoring' at center, surrounded by six labeled sections: CDD risk (Expected behavior), TM risk (Actual behavior), Screening risk (Inc. adverse media), Payment fraud risk (X-channel detection), Anomaly detection (Machine learned risk), External risk (Env. variables), and Entity Resolution (Network analysis). Each section has concentric rings in blue and purple gradients indicating varying risk levels.
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Tap into fully-integrated and connected detection

Solidify each aspect of your organization’s anti-money laundering and financial crime prevention efforts. SymphonyAI’s end-to-end solutions for AML transaction monitoring ensure investigators are prepared to expeditiously protect your customers—while conserving your resources.

SymphonyAI Investigation Hub interface showing a Links Explorer network diagram centered on John Rolands Inc., with connections to various individuals and financial values. A sidebar on the right displays detailed profile information for John Rolands, including medium subject risk, personal profile with employment at EcoTech Innovations, financial profile with a $95,000 salary, contact info in Palo Alto, tax details, and geographical profile showing Iran as country of origin, United States as residence, and Germany nationality.
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Adapt to risk as it emerges

Expose new financial crime typologies across risk domains with easy-to-understand connected detection. SymphonyAI’s solutions show investigators where risk is coming from and how to counteract it. Investigators can update your organization’s rules and AI models with ease—and stay one step ahead of criminals.

SymphonyAI Investigation Hub screen displaying a detailed AI investigation summary for John Rolands with a very high risk level. The overview includes personal data, detections related to payment fraud, customer screening, AML, and KYC/CDD. Payments section shows details of unusual payments including Payment ID 100002580, account Acc-532-0116, base amount EUR 25,000.00, debit transactions with responses HOLD, RELEASED, and BLOCKED, and origin date 18/01/2023 from the United States. Sender details show John Rolands in Ireland with customer and account IDs, bank name CIB, and IBAN number.
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Connect fragmented data and siloed teams

Transform your organization’s investigations by connecting once fragmented data and teams. SymphonyAI’s solutions for AML transaction monitoring create a single-subject view across all risk domains. Equip your investigators to assess risk—with remarkable precision and speed.

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Matt Wilkins, Product Manager at SymphonyAI, introduces our payment fraud solution, outlining core capabilities, showcasing how we leverage AI, and demonstrating how we help solve complex fraud challenges at scale. Learn how our technology empowers teams to detect and prevent fraud with greater speed, accuracy, and confidence.

Strengthen your ability to prevent payment fraud with AI-driven financial crime prevention solutions—backed by support from strategic experts.

The team at SymphonyAI is here to answer your questions about financial crime prevention and our solutions. Here are some of the most common.

What does SymphonyAI offer for payment fraud prevention?

SymphonyAI provides AI-powered payment fraud prevention solutions designed to detect and stop fraud in real-time, protecting financial institutions from losses associated with account takeovers, scams, and unauthorized transactions.

How does SymphonyAI’s payment fraud software improve fraud detection?

The platform uses AI to increase payment fraud detection by 50% while reducing false positives by 55%, ensuring quicker and more accurate identification of fraudulent activities.

What fraud scenarios does SymphonyAI’s solution cover?

SymphonyAI’s out-of-the-box models cover 45+ fraud scenarios, including romance scams, account takeovers, and money mule schemes, allowing institutions to counter diverse types of fraud.

Can SymphonyAI’s payment fraud solution handle high transaction volumes?

Yes, SymphonyAI’s solution supports real-time transaction screening with detection and scoring latency under 50 milliseconds, making it suitable for handling large transaction volumes effectively.

What results have clients achieved using SymphonyAI’s payment fraud solutions?

Clients have reported significant improvements, such as a U.S. regional bank that reduced payment fraud losses to zero for several months despite a 140% increase in fraud attempts.

How does SymphonyAI support compliance with regulations?

SymphonyAI’s payment fraud solution includes simplified workflows, dynamic risk assessment, and real-time reporting, helping institutions meet regulatory mandates with greater ease and accuracy.