Mellon Bank has bought software that uses an advanced form of artificial intelligence to detect credit card fraud, company officials said.

The software, called Fraud Detection System, uses a type of artificial intelligence programming called neural networking, is marketed by Nestor Inc., Providence, R.I.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.