One of the UK’s biggest credit reference agencies has revealed it is using Microsoft’s artificial intelligence to spot fraudulent loan applications and protect consumers.
Callcredit, which works with lenders across the UK, is using Azure Machine Learning to identify criminals who pretend to be other people when they try to access credit reports and borrow money.
The service has been successful in stopping fraudulent access to Callcredit’s credit reporting and scoring service, named Noddle, and protecting consumers from subsequently having bad loans taken out in their name.
