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Revolut - Revolut uses machine learning to strengthen fraud detection

The UK fintech company Revolut developed Sherlock, a machine learning-based fraud prevention system, to counter the growing threat of financial fraud. Sherlock continuously and autonomously monitors card users’ transactions, and if it finds a suspicious transaction it sends the user a push notification for their approval. Revolut selected Couchbase because of its inherent architectural advantages – including speed, agility, and scalability – that address the ever-changing data needs of users and merchants.

About Revolut

75%

improvement over industry standards within one year of Couchbase

$3M+

saved with Couchbase

96%

of fraudulent transactions caught

Challenges

    • Fraudsters are evolving to beat traditional predetermined fraud detection rules
    • A mission-critical application required consistent high availability and high throughput for its rapidly growing customer base
    • On average, financial fraud costs institutions between 7-8 cents out of every $100

Outcomes

    • Sherlock’s high speed caching enabled machine learning algorithms to continually learn and update rules – catching 96% of fraudulent transactions
    • Sherlock evaluates transactions for signs of fraud in under 50 milliseconds for Revolut’s 12+ million customers
    • Within the first year in production with Couchbase, a 75% improvement over industry standards saved more than $3M
For our customers, the loss of $100 can mean the difference between a pleasant holiday and an experience filled with frustration and resentment. Couchbase has never failed us or our customers.

Dmitri Lihhatsov Financial Crime Product Owner, Revolut

Maccabai logo Industry

Maccabai logo Use case

  • Fraud detection
  • User profile store
  • Digital communication
  • Caching

Maccabai logo Product

Maccabai logo Key features

Revolut strengthens fraud detection

See how Revolut combines machine learning with Couchbase Server's speed, agility, and scalability to monitor card transactions and reduce financial fraud.

View case study
FS tech awards 2020

Revolut developed Sherlock, a machine learning-based card fraud prevention system, to counter the growing threat of financial fraud.

Read the