Mphasis and BAE Systems to launch Global CoE in Fraud Detection and Anti-Money Laundering

AI/ML powered fraud detection platform to enable BFSI customers to accelerate adoption of FinCrime prevention solutions

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Mphasis announced its partnership with BAE Systems, a British multinational defense, security, aerospace company to set up a Center of Excellence (CoE) around BAE System’s fraud detection and prevention solution – NetReveal, enabling customers to accelerate the adoption of the NextGen maturity in sophisticated FinCrime prevention and detection functions.

A recent research by San Jose, California-based ThreatMetrix who analyzed over nine billion transactions in the first quarter of 2018 detected 210 million global fraud attacks and a billion bot attacks. A recent report from RSA Security’s Fraud and Risk Intelligence (FRI) unit shows that 71 percent of all fraud transactions come from mobile browsers and apps, a 6 percent rise from the 65 percent reported in Q1 of 2018.

With the increasing cases of financial fraud, this CoE is both timely as well as  will allow clients the benefit of BAE system’s financial crime products driven by Artificial Intelligence (AI) and Machine Learning (ML) combined with Mphasis domain-specific service offering.

The Mphasis-BAE Systems’ Center of Excellence will work to deliver key elements of NetReveal. While BAE Systems will provide AI driven powerful fraud detection platform covering entire depth and breadth of Financial Crimes for BFSI clients globally, Mphasis would bring its strong services portfolio and experience of technology and systems through its deep domain expertise.


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