Open Banking Payments Intelligence Platform
Custom anomaly detection model with 98.7% precision — far beyond rules-based fraud flags
Overview
PSD2-compliant multi-bank aggregation and payments intelligence platform built for a UK fintech. Processes transactions across 12 UK banks through a single API, with a real-time AI anomaly detection layer that flags suspicious activity before it becomes fraud.
The Challenge
The client was losing clients to competitors offering unified bank data and smarter fraud detection. Their existing rules-based fraud system generated 40% false positives — flagging legitimate transactions and degrading customer experience. They needed a single API across all major UK banks plus an intelligence layer that actually learned.
What We Built
A unified open banking aggregation layer connecting to all 12 major UK banks via their PSD2 APIs, normalising transaction data into a consistent schema, and exposing it through a single authenticated API. On top of this, a real-time intelligence dashboard for the client's finance teams showing spending patterns, anomaly alerts, and merchant category analysis.
Tech Stack
Key Outcome
£2M+ processed monthly · 98.7% anomaly precision
The Intelligence Dashboard
Real-time monitoring across all 12 connected UK banks — volume, anomalies, and live alerts in one view.
- £2.4M monthly volume, 14,832 transactions tracked
- 23 anomalies flagged at 98.7% detection accuracy
- 30-day volume chart with anomaly spike annotations
- Live alerts feed with severity badges and confidence scores
Explainable Anomaly Detection
Every flagged transaction comes with a full explanation, not a black-box score — a £47,200 transfer gets a 6-axis risk breakdown and four plain-language reasons.
- 6-axis radar chart comparing flagged vs. normal behavior
- Four plain-language reasons for every flag
- Color-coded risk factor breakdown per axis
- One-click Block, Approve & Learn, or Investigate actions
Unified Transaction Feed
Every transaction across all 12 banks in one filterable table, with AI categorization and expandable risk detail per row.
- Search, bank, and category filters plus an anomalies-only toggle
- Color-coded category badges and risk scores per row
- Anomalous rows highlighted with expandable detail
- AI classification confidence and merchant history on expand
Merchant & Subscription Intelligence
Spending broken down by category and merchant, with automatic subscription detection most competitors don't offer.
- Category breakdown across £8,420 in tracked spend
- Automatic subscription detection — 8 active, £142/month
- Per-category anomaly counts
- Trend arrows and top merchants per category
Bank Connections & Compliance
All 12 bank connections in one place, with PSD2 and GDPR compliance front and center instead of buried in a settings page.
- Live sync status across all 12 connected banks
- One-click reconnect for expired consents
- AES-256, TLS 1.3, PSD2, and GDPR badges up front
- Per-bank account count and last-sync time
The AI Layer
The anomaly detection model was trained on 14 months of transaction history per merchant category. Rather than rules ("flag anything over £500"), it learns what normal looks like for each merchant, user, and time pattern — then flags deviations from that baseline. False positive rate dropped from 40% to 1.3%, while true positive detection improved from 67% to 98.7%.
Results
- •£2M+ processed monthly across 12 UK banks
- •Anomaly detection precision: 98.7% (up from 67%)
- •False positive rate reduced from 40% to 1.3%
- •GDPR-first data architecture, SOC 2 certified
- •Delivered in 34 days