Transaction Monitoring

Being a bank, bunq deals with transaction fraud on a regular basis. All transactions that are handled by bunq are monitored for these cases of fraud by a transaction monitoring system. When this system flags a transaction as being possibly fraudulent, a bunq employee has to manually check this transaction. The problem with the current system is...

Automated Transaction Monitoring

For the past 10 weeks, we have been tasked with improving the performance of the transaction monitoring system of bunq, an internationally active mobile bank. bunq has requested that we improve this system by automating the training of the machine learning model, providing better input data for this model and creating additional machine learning...

One Step Ahead: A weakly-supervised approach to training robust machine learning models for transaction monitoring

In recent years financial fraud has seen substantial growth due to the advent of electronic financial services opening many doors for fraudsters. Consequently, the industry of fraud detection has seen a significant growth in scale, but moves slowly in comparison to the ever-changing nature of fraudulent behavior. As the monetary losses...