Financial service firms are using AI to spot anomalies in transaction patterns. This helps identify fraud earlier, reduce financial services costs, and increase the efficiencies of merchants.
Worldpay expanded its monitoring to include fraud protection and global risk management for credit risk, delinquency prediction, and chargeback prevention and included its micro-merchants division.
The technology only generated two or three alerts to accurately and instantly identify any fraud, dramatically reducing false positives. And it improved the adverse reaction rate by 30%. Here’s how…
