New artificial intelligence platform created to help credit unions tackle fraud

US network CO-OP Financial Services says the system will also improve member engagement

CO-OP Financial Services has brought in a new data-driven platform to help US credit unions detect and tackle fraud more quickly.

The organisation, which operates an interbank network connecting the ATMs of credit unions in the US and Canada, says its COOPER platform uses machine learning to keep up with patterns of online crime.

President and chief executive Todd Clark said the multi-million dollar project, CO-OP’s largest technology initiative, would bring “greater security across our products and services, while providing the most seamless experience to the member.”

He added: “The machine learning power of COOPER will allow us to constantly improve upon the fight against fraud by enabling the understanding of huge amounts of data and detecting complex patterns rapidly.”


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