AI in fraud detection: How it is transforming the financial industry?
With the rise of online platforms, the average thief has shifted their operations from the streets and train stations to the digital realm. Online lending, in particular, has become a lucrative target for cyber criminals due to its popularity and rapid transaction cycles. While financial institutions have always prioritized customer security, the industry has experienced […]
Intelligent Security – taking digital identity verification to the next level with AI
Loan application fraud is a lender’s nightmare. It’s a real issue faced by many financial firms. It is estimated that financial institutions lose billions of dollars yearly to this type of scheme, with synthetic identity fraud alone being responsible for over six billion dollars of credit losses. Without face-to-face interactions, fraudsters and thieves attempt to […]
