Citi is rolling out its Payment Outlier Detection solution for corporate treasurers to automate the detection of outliers and combat fraud.
The financial institution announced in a press release on Wednesday (June 26) that its Payment Outlier Detection tool is now live in 90 countries. Developed within its Treasury and Trade Solutions unit, the tool deploys artificial intelligence, machine learning data analytics to identify outlier payments that could signal fraudulent activity. When outlier payments are detected, clients are able to approve or reject the transactions within the CitiDirect BE and CitiConnect electronic banking platforms.