Lloyds Banking Group secures patent for AI cybersecurity solution

By Gloria Methri

Lloyds Banking Group has developed a Global Correlation Engine (GCE), a breakthrough cybersecurity solution designed to enhance protection and reduce false alarms.

Large organisations often face challenges with cybersecurity software that misidentifies benign activities as potential threats, leading to false positives. These inaccurate alerts can overwhelm security teams and divert attention from real cyber threats.

Since implementing the GCE, Lloyds Banking Group has significantly reduced false positives while minimising the risk of missing genuine attacks. The bank continues to refine the technology, leveraging multiple layers of algorithms, including artificial intelligence, to enhance detection accuracy.

In recognition of this innovation, Lloyds Banking Group has secured its first-ever patent from the UK and US Intellectual Property Office for a new methodology within the GCE. This patented approach uses intelligent algorithms to analyse cybersecurity alerts and accurately distinguish between false positives and real threats. The patent will enable further improvements, allowing the Group to focus resources on combating actual cyber threats.

The GCE operates by storing and analysing alerts from multiple cybersecurity technologies, identifying common attributes, trends, and connections between different alerts. By cross-referencing these insights against known cyber-attack patterns, the GCE provides a highly accurate assessment of potential threats.

This dynamic, AI-driven approach enhances the ability to detect both immediate and long-term cybersecurity risks with a high degree of precision. Originally developed to combat traditional cyberattacks, the technology’s potential extends to e-crime, supply chain fraud, and cyber-enabled fraud, making it a powerful tool in the fight against financial crime.

Matt Rowe, Chief Security Officer at Lloyds Banking Group, said, “Our Global Correlation Engine is an exciting innovation that will allow us to identify genuine threats more quickly and efficiently, ensuring customers are protected. We are working to develop the Engine further, using artificial intelligence to supercharge its capabilities. This innovation, developed by our world-class cyber experts, demonstrates our commitment to advancing cybersecurity and protecting our customers with cutting-edge technology.”