Garanti BBVA Teknoloji scoops ‘Best Financial Institution Innovation’ accolade at Datos Impact Awards
Garanti BBVA Technology has won the ‘Best Financial Institution Innovation’ award at the Datos Impact Awards for its Mule Account Fraud Score Model, a solution designed to prevent fraud in banking transactions.
The model, developed by Garanti BBVA Teknoloji, uses artificial intelligence (AI) to generate real-time risk scores and spot accounts that could be used as ‘mule accounts’ in fraudulent activities. By analyzing customer profiles, it goes beyond traditional transaction-based monitoring methods to identify potential intermediary account behavior.
In the words of Ilker Kuruöz, Deputy General Manager of Garanti BBVA: “Our goal is to develop solutions that minimize fraud risks while keeping customer security at the forefront.”
He also remarked that financial crime is becoming increasingly sophisticated, making such innovations critical not only for banks but also customers. Kuruöz explained that the Mule Account Fraud Score Model provided added protection against fraud and money laundering while offering more security to customers. He added that receiving the Datos Impact Award for this model is a source of pride and a testament to the team’s creativity and dedication, alongside the company’s technological investments.
The Mule Account Fraud Score Model enables real-time risk assessment of incoming transfers from other financial institutions, providing cross-institutional protection against suspicious activity. The solution identifies accounts used for fraudulent purposes without interrupting legitimate transactions, enhancing both security and customer experience. By creating a safer financial environment, the model reinforces Garanti BBVA’s commitment to fraud prevention and operational excellence.
The recognition from the Datos Impact Awards highlights Garanti BBVA Teknoloji’s leadership in financial innovation and its effective use of advanced analytics and AI to deliver tangible solutions for the banking sector. Initiatives like this one strengthen the bank’s position in security, efficiency, and technological excellence across financial services.