Today’s customer places speed and convenience at the heart of their purchasing and decision-making process, whether they are making a weekly grocery shop, or managing financial products.
At the same time, fraudsters are rapidly evolving their method of attack – particularly in the digital space – meaning businesses are fighting to protect their customers while providing a seamless experience.
The opportunities offered by machine learning are setting the stage for a positive balance between customer protection and reducing customer friction.
Smart businesses are blending rules-based approaches to tackling fraud – which typically rely heavily on blocking known fraud patterns – with new machine learning technology. This combined approach enables businesses to understand and prevent new, evolving fraud types without increasing false positives.
This detailed whitepaper answers:
- What is machine learning and how does a machine learning system work?
- How can risk and fraud professionals take advantage of real-time machine learning to achieve a competitive edge in their relevant markets?
- Why is the time right for machine learning in fraud and risk management?
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