Lloyds uses Google-backed AI to detect phone fraudsters

Pindrop's software will be integrated into Lloyd's customer service offices. Representatives will see a traffic light system that will alert them if the call is fraudulent. From there, they can pass the call onto fraud specialists. "Every time we mark a phone call as fraudulent, we tell the system it did well and the machine learns. When we get it wrong, Lloyds lets us know, the machine learning system is constantly learning," Vijay Balasubramaniyan, chief executive of Pindrop, told CNBC by phone.