Lloyd Banking Group secures cybersecurity patent reduce false alarms.
Lloyds Banking Group has developed and patented a technology designed to tackle one of the biggest challenges in cybersecurity: the overwhelming number of false positive alerts that can drown security teams in unnecessary investigations.
Large organisations often rely on security systems that generate thousands of alerts daily, many of which are mistakenly flagged as threats. These false positives not only waste a Security Operations Centre (SOC) team’s resources but can also divert attention from genuine cyber risks. The UK bank’s new system aims to change that.
In a statement released by the bank this week, Lloyds says the Global Correlation Engine (GCE) works by cross-referencing alerts from multiple security tools, identifying patterns, and using intelligent algorithms—including artificial intelligence—to determine which alerts represent real threats.
Since deploying the technology, Lloyds Banking Group claims that it has seen a significant drop in false positive investigations, allowing its SOC to focus on real cyber threats and protect its customers.
The innovation has now received the bank’s first ever patents in both the UK and the US, marking a major milestone for the bank’s cybersecurity strategy. Lloyds plans to further develop the system by layering in AI to enhance its detection capabilities.
What are the future applications of GCE?
Although the technology was originally developed to combat traditional cyber-attacks, the potential applications extend far beyond this, the banks claims, including e-crime, supply chain fraud and cyber-enabled fraud.
Emphasising the importance of the breakthrough 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’re 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.”
This initiative is part of a broader push by Lloyds Banking Group to strengthen its cybersecurity defences. The bank has been actively investing in advanced technologies to safeguard customer data and transactions.
For instance, it has previously worked on enhancing fraud detection in digital banking and is part of wider efforts in the financial sector to tackle cybercrime.
Lloyds’ development of the GCE aligns with industry trends where organisations are increasingly adopting advanced correlation engines to improve threat detection accuracy.
Other financial institutions and tech firms, such as Microsoft, have been enhancing their own correlation tools to improve efficiency—Microsoft’s system, for instance, is projected to save analysts millions of hours annually by connecting isolated security alerts into a broader threat picture.
(Sourece: techinformed)
