AI Fraud Systems Frazzled by Covid-19
Seismic changes in customer behavior are seeing machine learning solutions throw out false positives.
Banks are reporting a sharp rise in cases of internal and external fraud perpetrated during the coronavirus pandemic – and with typical patterns of behavior among retail and corporate clients turned on their respective heads, detection systems that rely on past patterns of behavior to make predictions are struggling to cope.
In ordinary times, machine learning technology can dramatically improve fraud detection rates by spotting transactions that look atypical of observed customer behavior
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Front-Office Tech
Waters Wavelength
Waters Wavelength Podcast: Vendor lock-in and interoperability
James Crosby, founder and CEO of data management firm Fencore, joins the podcast to discuss vendor lock-in and interoperability.
Subscribe to Weekly Wrap emails
Most read
- FDC3 creator sets sights on cloud-based interop with new company
- Top three fixed income venues confirm bid to deliver EU consolidated tape for bonds
- This Week: Finos, LSEG, Neptune & Genesis, Deutsche Börse & Kaiko, Ice & More
- If it ain’t broke, break it: Back-office tech reform may benefit front-office returns
- Sell side ramps up outsourced trading desk services for still-skeptical buy side