Blog

Improving Fraud Detection: Rules versus Models

It is standard practice in managing payments to block potentially fraudulent transactions via a set of rules. These rules can be very effective in mitigating fraud risk, and practitioners in the industry are comfortable with this approach. Quite often these rules are able to mitigate the losses from fraudulent transactions without producing a correspondingly high alarm rate.

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Do You Know Me?: Recognizing Your Customers with Digital Identities

Today’s customers expect a lot out of their digital banking experiences. Gone are the days when customers felt reluctant to share personal information. Today they’re willingly trading personal information for better and faster service. An Accenture survey found that 78% were happy to share personal data with their bank, but that 66% demanded faster, easier services in return.

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Fraudsters Charge Their Batteries and Other Insights from Feedzai Research

59 records are lost or stolen every second, according to the Breach Level Index. This data includes credentials, personally identifiable information, and credit card numbers. Fraudsters count on hiding in these piles of data. But look close enough and you can see the subtle patterns they leave in their wake. Today we published a report, 7 Trends in Online Fraud, based on findings from Feedzai Research.

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As Online and Mobile Retail Rises, So Does Bot Fraud

Gone are the days when fraudsters would wait in line at Toys”R”Us to return an item they had stolen. Today, these fraudsters are hiding behind the digital curtain, and they’re using speed and velocity as tools for their crimes. In this blog post, we’ll look at one of these tools in particular: bot attacks.

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PSD2 and the unknown challenges: a tale of a modern revolution

With January fast approaching, it is time to ask: what do we really know so far about the revised Payment Services Directive (PSD2)? And how much is still unknown? Banks in Europe are facing a “monumental shakeup,” in the words of a Roland Berger publication, which states

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Combating Account Fraud With Machine Learning: A Webinar with Feedzai and Aite

If only we could read a consumer’s intentions, we’d know whether the person opening an account has this secret goal in mind: to wait for time to pass, then commit fraud. One person will make a purchase using a line of credit, never pay it back, and disappear. Another person will build good credit history, open several new accounts, and then suddenly stop making payments.

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How Banks Can Detect Sleeper Fraud the Moment It Wakes Up

If only we could read a consumer’s intentions, we’d know whether the person opening an account has this secret goal in mind: to wait for time to pass, then commit fraud. One person will make a purchase using a line of credit, never pay it back, and disappear. Another person will build good credit history, open several new accounts, and then suddenly stop making payments.

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How Machine Learning Will Change the Way Banks Fight Fraud

There is a lot of excitement in the air about the potential of machine learning when applied to many walks of life, from banking to insurance, from cancer research to pharmaceuticals. Our imagination is captivated by the notions of accelerated learning, greater knowledge, and productivity gains. While the concept of machine learning has been around since the late 1950s, it’s only in recent years that the required software infrastructure matured to the level where it is good enough and affordable enough to be adopted by large organizations.

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Nuno Sebastiao and Stephen Hawking Share the Stage at Web Summit 2017

What does a Silicon Valley CEO and a “Theory of Everything” physics legend have in common? They both shared the stage at Web Summit, and they both sounded the need for an AI Code of Ethics as humans begin to weave artificial intelligence into the fabric of our lives.

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