The New AI Approch to Managing Risk

The fight against scams in Australia has entered a critical new phase — and Neo-Analytics is proud to be playing a key role in strengthening the industry’s collective defences. We’re working in close collaboration with Qudos Bank and a coalition of retail banks, mutuals, and industry bodies to deliver a new standard of scam prevention — one that goes beyond compliance and puts customer protection at the centre.

This coordinated effort is part of a broader uplift across the banking sector to proactively detect, disrupt, and respond to scams through shared intelligence, advanced AI models, and smarter transaction monitoring.

Here’s how we’re helping raise the bar:

💡 Leveraging LLMs for Scam Detection:
Neo-Analytics embeds large language models (LLMs) into banks’ data ecosystems to report detected scam patterns and behavioural anomalies. These models can rapidly aggregate high-risk interactions across digital channels and flag them for action, dramatically reducing response times. Together with Qudos Bank, we’re helping institutions connect to national fraud intelligence platforms, including the Australian Financial Crimes Exchange (AFCX) and the Fraud Reporting Exchange, allowing scam indicators and suspicious activity to be shared across the sector.

Improving Disputes Verification and ASIC Reporting with AI
Neo Analytics is strategically improving complaints management and regulatory reporting, particularly in the context of financial services and regulatory obligations like ASIC RG 271, APRA’s CPS 230. The objective is to streamline intake, triage, and resolution across all channels by:

  1. Centralising complaints intake (call centre, branches, digital, social media) into a unified system or workflow.
  2. Defining consistent taxonomy for complaints classification (aligned to ASIC expectations).
  3. Implementing automated triage to route by severity, product, or compliance risk.

A Whole-of-Ecosystem Approach

While banks play a leading role, scammers don’t operate in silos — and neither can we. Neo-Analytics actively engages with stakeholders across government, telcos, social media platforms, and fintechs to ensure fraud prevention strategies are integrated, agile, and adaptive to evolving scam typologies. Together, we are helping to create a stronger and more unified scam prevention ecosystem, making Australia a more challenging target for fraud and giving customers greater confidence in the digital economy.

Because protecting Australians from scammers isn’t just good practice — it’s a shared responsibility.

If you’re a bank, credit union, or mutual looking to improve your scam monitoring and prevention capabilities, we’d love to talk.