SK Telecom said on the 29th that it launched FAME, an artificial intelligence (AI) security solution to prevent cyber financial crime, and signed its first supply contract with Shinhan Card.
FAME (Fraud Detection AI for MNO & Enterprise) is a big data-based AI security platform independently developed by SK Telecom. It uses AI to analyze telecom data such as location, calls, and texts to detect and prevent in real time financial fraud patterns including voice phishing, smishing, and various fraudulent transaction activity.
SK Telecom plans to help financial institutions, public agencies, and corporate customers link their own fraud detection systems (FDS) with FAME to block customer harm in advance.
Shinhan Card is FAME's first customer. The two companies recently signed a FAME supply contract and plan to combine telecom and financial data to dramatically raise the level of customer protection. SK Telecom said it expects the supply deal to have a significant effect in preventing voice phishing crimes.
SK Telecom and Shinhan Card previously signed a business agreement in Nov. last year to advance their financial crime prevention system and have test-applied related technology.