How AI Fraud Detection, Combined With Natural Intelligence, Is Superior To The Human Eye Alone

In the last several decades, technology has advanced at an astonishing pace. Today, tech gurus are exploring the many possibilities artificial intelligence (AI) has to offer. AI tools use computer-generated intelligence to mimic human behavior, thinking, and problem-solving skills.


Most AI is developed with a specific functions in mind, to perform tasks or solve intricate problems. In many instances, AI can achieve its purposes with better efficiency and accuracy than natural human intelligence alone. And when AI is combined with natural human intelligence, the results can be astonishing.


ToolCASE is changing the game by using artificial intelligence for highly advanced fraud detection software. The ToolCASE solution, powered by RembrandtAi in conjunction with human risk and fraud teams at banks and credit unions, has become more than the industry standard, it’s become the industry’s future.

A Brief (And Recent) History of Artificial Intelligence

In the 1950s, robots and the general concept of artificial intelligence were merely a science-fiction dream; the subject of movies and literature by authors like Ray Bradbury.


Computers underwent massive changes throughout the 60s, 70s, and 80s to increase their function and capability. In 1997, a supercomputer created by IBM called Deep Blue defeated a world-champion chess player, which was considered a massive milestone in computing and a big step in the evolution of AI. Several years later, in 2002, the first commercially successful robot vacuum made its debut. 


In the last 20 years, AI has developed many other astounding capabilities, including voice recognition and robotic process automation. In 2020, scientists even used AI to create the COVID-19 vaccine, predicting the RNA sequence 120 times faster than other methods–in just 27 seconds!

Artificial Intelligence: A Glimpse Into the Future of Bank and Credit Union Security

The future of artificial intelligence is limitless, and its current and future capabilities are nothing short of mind blowing. AI software is used in various fields to streamline processes in ways that may be superior to basic human functions. AI is useful in education, navigation, healthcare, agriculture, gaming, and lifestyle.


With the commonality of e-commerce, p2p payments, online and core banking, AI fraud detection software is becoming increasingly helpful and essential for better online security.

Traditional Fraud Detection Methods

While other fraud detection methods that do not operate with RembrandtAi may still be somewhat effective, they do not operate in real-time, only detecting crimes after they’ve been committed. This fact makes it hard for risk and fraud teams, as well as law enforcement, to not only prevent fraud as its happening, but to track down the criminal and recover losses. Before artificial intelligence-based fraud detection software, like the best-in-class RembrandtAi, the industry standard was batch processing; or analyzing data after the fact.

Batch Processing

With most batch processing systems, data is accumulated throughout the day in “batches” and then later reviewed. Once batched, suspicious activity, potentially fraudulent transactions and unusual patterns in the core can then be reviewed by fraud teams. Because this method of fraud detection doesn’t occur in real-time, valuable time and information can be lost. Additionally, it tends to yield inconsistent results and false positives, and many risk and fraud teams will realize much of the damage has already been done, and the money already gone.

AI as a Modern Solution for Fraud

Fraud detection using RemnbrandtAI allows for 24-hour surveillance. The ToolCASE AI solution analyzes thousands of transactions in milliseconds to recognize fraud trends, fraud incursions and potential fraud incursions, live. Real-time Ai fraud detection software will notify institutions and individuals immediately when suspicious activity is detected, allowing authorities to take action, often well before any funds are transferred.


Innovative fraud detection software such as ToolCASE’s RembrandtAi can help catch fraudsters in the act, often alerting fraud teams before the fraudster can abscond with funds.


Innovative AI fraud detection software, powered by RembrandtAi, is the best option for financial institutions and businesses in transactional industries to prevent and detect financial crimes. And to detect them before they cause further damage or loss.


By combining various techniques, technologies, and machine learning capabilities, ToolCASE’s RembrandtAi could recognize fraudulent activity quickly, assisting human intelligence in making the proper, expedited decisions on if and when to halt a transaction.

Data Mining

AI-based fraud detection software automatically gathers, classifies, and segments various data types to detect suspicious activity. The software immediately flags for further investigation when it finds irregularities or abnormalities. Or, RembrandtAi can be automated so unusual transactions are automatically halted so investigators can review them at a later time. This is an important feature for bank and credit union transactions that occur after hours when fraud teams are not present.

Pattern Recognition

While humans can identify patterns in data, AI can do it in a more accurate and efficient way. Pattern recognition algorithms allow AI to detect clusters and patterns, both supervised and unsupervised, that are generally unseen by the naked eye. RembrandtAi is not designed to replace fraud teams, but to assist them at an ultra-high level, live with an unprecedented accuracy in both pattern recognition and potential pattern prediction.

Machine Learning

AI is always getting smarter. Machine learning allows artificial intelligence to analyze past data and inconsistencies to more accurately identify real cases of fraud. Further RembrandtAi can “model” for areas where new frauds are likely to occur. This gives a heads up to fraud teams on what to look out for in the future.

What Counts as Fraud?

Fraud is any unlawful activity initiated with the intention of personal or financial gain. While fraudulent activity has been around for a long time, technology has brought about various methods for fraudsters to commit crimes faster and with more devastating results. The most often victims are consumers and their financial institutions. Here are a few common instances of fraud.


Phishing is a very common occurrence in the digital world. Fraudsters will send the victim emails or text messages mimicking trusted vendors, institutions, and even government agencies with links or attachments containing malware to steal login credentials and PII. Phishing is typically used to gain access to financial accounts or other personal information, then the data can either be immediately exploited, or sold on the dark web.


Some fraudsters will use forged documents such as passports, invoices, contracts, licenses, applications, and checks to access an individual’s finances. For example, a fraudster may deposit a fake check into an account and withdraw the money before institutions can verify the check as false (batch processing).


With the new FedNow system about to launch, allowing for near instant deposit access, real-time fraud detection is increasingly important. Once immediate check clearing becomes part of the everyday banking system, a major fraud issue will certainly appear. RembrandtAi can assist fraud teams in identifying fraudulent checks as they’re being deposited, even in the era of FedNow.

Identity Theft

The criminal may use Social Security numbers, birth dates, phone numbers, and addresses (PII) to apply for credit or debit cards or gain access to the victim’s account.


There are many other types of fraud, but with fraud detection using AI, you can help protect yourself and your customers from these incidents by identifying and stopping unauthorized transactions and applications in real time.

Vulnerable Industries

While ToolCASE primarily provides fraud detection software for financial institutions, like banks and credit unions, many other industries may benefit from ToolCASE’s innovative RembrandtAI real-time surveillance and data analysis systems. After all, fraud can happen anytime, anywhere, various ways, and to any business.


Other industries that are vulnerable to fraud include:

  • Transportation
  • Oil and Gas
  • Retail and Online Commerce
  • Government
  • Airlines
  • Health and Medical
  • Manufacturing
  • Business Logistics
  • Insurance

ToolCASE is experienced in providing fraud detection and prevention for all these industries and more. In fact, RembrandtAi can be incorporated into almost any transactional business to help detect and prevent fraud, and manage supply chains, live.

Protecting You and Your Customers With ToolCASE

Modern problems require modern solutions. With advanced and effective technology, AI fraud detection software is far superior to the human eye. Fraud detection using AI is the key to protecting you, your business, and your customers from debilitating financial losses and crimes.


With real-time fraud detection and 24/7 surveillance, ToolCASE’s RembrandtAi can help stop fraud right in its tracks. Find your peace of mind, secure the ultimate protection of your customer and member assets, and stay light years ahead of the fraudsters, with ToolCASE!


Get a full demonstration of the remarkable capabilities of RembrandtAI, and discover how real-time fraud detection software powered by AI can help prevent fraud losses at your financial institution, HERE