Digital transformation company GFT has expanded its compliance suite to help Canadian credit unions combat payment scams and identity theft while meeting regulatory requirements.
The AI-powered system aims to automate fraud detection processes, focusing on payment screening and customer credential verification. The technology is designed to identify suspicious transactions by detecting deviations from consumers’ typical payment patterns and verifying account access attempts in real time.
“Credit unions have successfully carved out their own place in the financial market, and as memberships grow, the need for advanced protection against fraud also has to grow,” GFT Canada CEO André Gagné said in a news release. “To ensure a safe and trusted environment for members while remaining compliant with government requirements, credit unions need to begin implementing AI solutions.”
