Lloyds uses Google-backed AI to detect phone fraudsters

New technology creates an ‘audio fingerprint’ from phone and Skype calls

Lloyds Banking Group will introduce Pindrop’s software across the Lloyds Bank, Halifax and Bank of Scotland brands early next year. Photo: Reuters

Lloyds Banking Group has partnered with a US artificial intelligence (AI) start-up Pindrop to use its technology to detect fraudulent phone calls.

Five-year-old Pindrop uses so-called machine learning technology which takes into account large amounts of data to learn the difference between a legitimate and fraudulent call is. In theory, the technology will get smarter and the company now has around 360 million calls going through its system which helps the software learn.

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