July 27, 2017
Going beyond authentication: fighting the fraud beast – The Paypers
In a guest article for The Paypers, fraud and security expert Luke Reynolds explains how organisations can prevent fraud while minimising customer friction
With fraud losses soaring to over £150 billion in 2016 in the UK alone, many organisations introduce additional steps to the authentication process to prevent fraud. While this may work as a quick fix, it also increases customer friction and complicates fraud management, ultimately causing costs to rise even further.
There are new techniques which use cutting edge machine learning technology to prevent fraud. By looking at and understanding good behaviour, it becomes easier to spot the unusual activity. This can vastly improve fraud detection rates, enable fraud teams to focus on the most urgent cases, and improve customer satisfaction.
The ARIC Fraud Hub is an advanced machine learning platform that uses Adaptive Behavioural Analytics to understand each customer’s behaviour. ARIC can automatically adjust fraud prevention tactics and enables financial organisations and merchants to proactively prevent fraud in real-time while keeping their customers happy.
Read Luke’s full article on The Paypers.