Legacy Fraud Detection Systems Don’t Work
Fighting fraud using traditional methods is ineffective - these systems provide too many false positives and lead to legitimate customer transactions being declined. If you continue using one of these systems you will continue losing money every day.
Graph-based analytics and machine learning, on the other hand, provide the performance you need. Graph techniques can analyze thousands of customer data points – and the crucial relationships between them – to deliver fraud alert scores in real-time.
Graph techniques are used to analyze the links between people, phones, and bank accounts (among other things) to reveal indicators of fraudulent behavior, not only helping you pinpoint suspicious activity in a sea of data, but also giving you the necessary tools to explain what’s going on.
Read this solution brief to learn how seven of the top 10 global banks and others are stopping fraudsters more effectively using graph analytics and machine learning.