Account Information fraud detection

Increasing online security with fraud detection through buying patterns analysis

Proposed by

CIONET is the largest CIO/CTO community (with more than 6500 members) focused on innovation and information technology. The purpose of this challenge is to leave the imagination and creativity open to all participants, and to present a solution that goes beyond the other categories/challenges but is nevertheless pioneering, impactful and adds value to the financial landscape.



This challenge focuses on fraud detection based on account information services. By allowing for an early detection of suspicious transactions, the solutions could represent significant savings.


Several sources of data can be used. While the Open Bank Project PSD2 sandbox demonstrates a PSD2 API solution, additional data sets can be integrated on the end solution. The API provides a secure avenue that allows bank account holders to access their banking data and services via approved third party applications, following the consent of both the bank and customer. Use this sandbox to explore our PSD2 API catalogue, test an example API powered application and register for a developer key so you can start building your own applications.

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Expected outcomes

The account information fraud detection challenge will present the benefits of a fully functional solution that tracks, predicts, detects and alerts for fraud activity based on the complete account information. Some outcome examples are:

  • New algorithms (for fraud prediction, information aggregation, etc.);
  • New services in predictive analytics based on consolidated account information;
  • New big data and analytics solutions that increase fraud prediction and detection;
  • Alternative solutions to existing fraud detection mechanisms.

Expected impacts

This challenge provides an opportunity to showcase fraud prediction and detection functionalities which increase the confidence of the end user and the financial ecosystem, and help stakeholders engage in joint security efforts:

  • Decrease the fraud activity in payment services;
  • Increase the level of fraud detection based on combined efforts;
  • Improve awareness of payment fraud and the associated behaviours.