European banks lag on AI as multi-channel fraud rises

A survey of 200 European fraud leaders, conducted with NICE Actimize, found banks reporting rising fraud across multiple channels and delays in AI deployment and upgrades to controls for 2026.

The survey formed the basis of a webinar that mapped the fraud threat landscape for 2026 and examined how banks are adjusting controls. Participants included Chris Ainsley, head of fraud risk management at Santander UK; Joe Bristow, product director and fraud subject-matter expert at NICE Actimize; and Sharon Kimathi, a researcher who moderated the session.

Respondents reported persistent card fraud and account takeover, and growing concerns about AI-driven payment flows and fraud linked to virtual assets. The combination of legacy threats and new channels increased the number of points banks must monitor to detect and prevent losses.

Many institutions are exploring artificial intelligence to expand detection across both established and emerging fraud types. Webinar discussion and survey responses indicated AI is viewed as a way to scale monitoring and adapt to new attack patterns, but deployment has been uneven.

Participants identified several barriers to faster AI and control rollouts: difficulty integrating new tools with legacy systems, uneven funding for fraud functions, and gaps in in-house technical expertise. These issues slow how quickly teams can tune systems and respond to changes in attacker techniques.

The survey showed differences between banks and markets. Some firms reported advanced tooling and stronger funding for fraud teams. Others reported limited staff expertise and less access to advanced detection technology.

Panelists outlined priorities for fraud, risk and compliance leaders, including improving multi-channel monitoring, balancing investment between existing defenses and emerging threats, and developing incident response and technology evaluation processes.

The survey and webinar highlighted that fraud activity now spans card networks, payment rails and virtual asset ecosystems, and that banks vary in readiness to address the threat.