Business transaction data is a huge part of any bank's functioning and is managed and stored by IT systems. Business processes are supported by these IT systems. With these IT systems in pace, the level of human interaction has drastically reduced. This, in turn, has become a huge reason for fraud to occur. Automated controls are used to keep frauds in check. Identifying an … [Read more...] about How Fraud Analytics Can Protect the Banking Sector
fraud
Using Artificial Intelligence to Facilitate Fraud
Any new tool or technology has the potential to be put to use for good purposes or, unfortunately, for harmful purposes. Artificial intelligence is no different. As we see the rapid progress occurring in the AI space, lots of attention has been paid to all of the good uses of AI. However, it is inevitable that those with nefarious intent are also studying AI successes with an … [Read more...] about Using Artificial Intelligence to Facilitate Fraud
How to Control Crime with Big Data and Predictive Analytics
Law enforcement has many highly sophisticated tools available for helping to pin down those who commit crimes. Cyber criminals are more difficult to catch than those who commit theft and assault, and still more difficult is preventing crime before it happens. Big data is proving very useful for filling in these gaps in law enforcement technology, providing insights and … [Read more...] about How to Control Crime with Big Data and Predictive Analytics
Will Analytics and Technology Put an End to Credit Card Fraud?
If you havent noticed the change, youre living in a cave. Now, businesses are charged with helping banks and credit card processors fight credit card fraud. The stakes are high and the battle against thieves is on a field that includes big data, machine learning, and hardware. Around half of the worlds credit card fraud happens in the United States. Because of that stunning … [Read more...] about Will Analytics and Technology Put an End to Credit Card Fraud?
How Credit Card Companies Use Big Data to Improve Industries
Credit card companies are among the most data-savvy organizations in the world and they have been ever since their birth. The reasons for this are very simple and arguably the biggest one of these is the fact that credit card companies operate with enormous numbers of both credit card holders and merchants. In order for this machine to keep running the way it should and for it … [Read more...] about How Credit Card Companies Use Big Data to Improve Industries
