Objective

A leading European Bank needed to improve fraud detection capabilities around credit cards

Challenges
 

• Detecting and preventing fraudulent applications
• Evolving sophistication of fraudulent activities
  
  

Approach
 

• Built an AI-based system that detects fraud in real-time.
  
• Used data analysis approach to  create patterns of each client's behavior based on previous transactions.
  
• Enriched the information with third-party data such as geo data taken from the bank's mobile application.
  

Impact
 

• Enabled identification of fraudulent transactions from legitimate transactions
  
• Decreased operating costs with an AI-based automated approach to fraud detection
  

Questions

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