The OpenML Engine from Feedzai, launched just last week, represents the first-ever service that allows data scientists to bring their preferred approaches to a third party’s fraud-specific innovations. In this video, we show you how it works.
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The amount of progress being made in the machine learning and data science communities is staggering. As new algorithms, approaches and tools proliferate, and as banks hire more and more data scientists, it’s critical to be able to quickly adopt new methods that provide lifts in fighting fraud. So it’s a growing problem that fraud-fighting systems make it impossible to integrate your preferred modeling approaches and algorithms.
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We’ve launched our Q1 Fraud Trends Report, revealing original insights from Feedzai Research that show fraudsters are attacking in methods that are faster and faster – and continuously new. The time horizon for responding to new fraud is shrinking. That’s why we’re calling the report: The Future is Now.
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Just a couple weeks after Feedzai launched an APAC office in Hong Kong, we went to Money20/20 Asia in Singapore, where our CEO and co-founder Nuno Sebastiao spoke on the main stage. “AI is not enough,” he said.
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What do PSD2 and GDPR most have in common? A dedication to customer experience. The most impactful regulations of the last decades are introducing a resharpened focus on the customer, now that the Revised Payments Service Directive (PSD2) and the General Data Protection Regulation (GDPR) are reshaping how personal data is used and managed.
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Every time a new technology comes to town, credit unions like yours are promised transformation and ROI. After a few presentations and some great industry stats, you’re asked to spend a fortune. First you were asked to purchase new lending systems. Then CRM. Then mobile, then digital, then big data.
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This is an innovation arms race. Large merchants aren’t just innovating against other merchants, but against fraudsters too. While your strategy teams are having meetings and conference calls, trying to predict the coming innovation inflection points of the next 5 years, fraudsters are having meetings of their own.
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Myth: it’s all about the algorithm. Reality: it’s all about the data – the training data, the sources of data, and the quality of the data.
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