Machine Learning Provides Blueprint to Improve Banks’ Anti-Fraud Strategy
MIAMI--(BUSINESS WIRE)--Easy Solutions, the Total Fraud Protection company, today unveiled its new Detect TA Artificial Intelligence (AI) Fraud Assessment Service for banks and other financial institutions. Artificial Intelligence delivers a competitive edge to any business that leverages it effectively, and it is already being applied by leading financial institutions to improve fighting fraud.In early engagements, organizations have seen up to 195 percent increase in fraud detection rates using machine learning models developed from the service. Additionally, according to the recent Gartner report, Top 10 Strategic Technology Trends for 2017 (Cearley, Walker, Burke; October 2016), “relentless and ever-increasing security attacks require adaptive security architectures that emphasize security-aware solution design; AI-enabled user and entity behavior analytics; and new architecture, methods and tools to address IoT and intelligent digital mesh security.”
“Machine learning and the resulting AI can become a blueprint to improve banks’ anti-fraud strategy,” said Daniel Ingevaldson, CTO of Easy Solutions. “They are revolutionizing fraud detection, allowing financial institutions that employ AI to stop more attacks, lower false positives, and reduce manual review time. This is a fundamental shift in improving fraud detection, and is transforming how organizations think about addressing the fraud adversary.”
Easy Solutions conducts a personalized fraud use case review, led by a team of data scientists and fraud experts, and analyzes fraud-marked, anonymized transactional data to model and produce actionable insights into transactional fraud risk. From this information, Easy Solutions creates a custom machine learning classifier module, trained with client data.
With these custom fraud detection models, customers can:
- Identify high-risk areas not covered by current rules and statistical models
- Expose previously unidentified fraud patterns unique to your organization
- Increase detection rates
- Act on recommendations and actionable insights
For more information on the new service, visit https://www.easysol.net/services/detectta-ai.
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ABOUT EASY SOLUTIONS
Easy Solutions is a leading security vendor focused on the comprehensive detection and prevention of electronic fraud across all devices, channels and clouds. Our products range from anti-phishing and secure browsing to multifactor authentication and transaction anomaly detection, offering a one-stop shop for multiple fraud prevention services. The online activities of over 100 million customers at 385 leading financial services companies, security firms, retailers, airlines and other entities all over the world are protected by Easy Solutions fraud prevention systems.
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For Easy Solutions
Kari Walker, 703-928-9996
Source: Business Wire