NVIDIA and bunq, a prominent European neobank, have partnered to enhance fraud detection and combat financial fraud using generative AI.

Bunq, known as “the bank of the free,” offers a fully online banking experience, catering to over 12 million customers with 8bn euros in deposits.

The partnership aims to address the increasing need for advanced fraud detection methods. Bunq’s automated transaction-monitoring system, powered by NVIDIA’s accelerated computing technology, significantly enhances the speed and accuracy of detecting fraudulent activities and money laundering.

Bunq, founded in 2012, was the first new bank to obtain a European banking license in over three decades. It offers a range of online banking services through its app, eliminating the need for physical bank visits.

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