Case Study: Commonwealth Bank cuts fraud and scam losses with H2O.ai

Commonwealth Bank cuts customer scam losses 76% with H2O.ai

Commonwealth Bank of Australia, the country's largest bank, faced the challenge of protecting its 16 million customers from increasingly sophisticated fraud and scams, which had peaked in 2022. The bank needed to detect and act on threats in real time across its entire customer base. To address this, Commonwealth Bank partnered with H2O.ai and implemented the H2O AI Cloud platform.

H2O.ai provided a comprehensive solution that combined predictive and real-time generative AI for fraud detection and transaction monitoring. The vendor's platform enabled the bank to run thousands of models over billions of data points in real time. As a result, Commonwealth Bank reduced fraud by 30% and cut customer scam losses by 76% from their 2022 peak. Additionally, H2O.ai's technology allowed the bank to train over 900 analysts and drastically reduce the time to prototype new models from weeks to just two days.

Commonwealth Bank