The ai Corporation - Fraud Conference · · 2017-04-12Social Loafing Paradox of Choices. The ai...
Transcript of The ai Corporation - Fraud Conference · · 2017-04-12Social Loafing Paradox of Choices. The ai...
The ai Corporation Ltd ©2016 www.aicorporation.com
PAYMENTS INTELLIGENCE TO ENRICH, PROTECT AND GROW YOUR BUSINESS
The ai Corporation
Man vs Machines in The World of Fraud
DT Fraud Conference 2017 – Banking and Payments
The ai Corporation Ltd ©2016 www.aicorporation.com
Today we service;
• 100 banks worldwide
• 3 million merchants
(including the world’s largest)
• 300 million cards
• 20 billion+ transactions
worldwide
The ai Corporation Ltd ©2016 www.aicorporation.com
False
Declines
$116+ Billion
Identity
Fraud
$660 Million
Internal
Fraud
40 Million Customers
The ai Corporation Ltd ©2016 www.aicorporation.com
Single
Channel
Multi
Channel
Cross
Channel
Omni
Channel
The ai Corporation Ltd ©2016 www.aicorporation.com
Inattentional Blindness
Availability Bias
Clustering Illusion
Herd Instinct
Default Effect
Status Quo Bias
Decision Fatigue
ConfirmationBias
Social Loafing
Paradox of Choices
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Analysis & Definition
Data Preparation
Data Analysis & Modelling
Analysis & Implementation
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Case Study: Regional Card Issuer
Problem Statement:
• Adequate Fraud Detection Rate
• Excessive Referral/False Positive Rate
• Large manual overhead
The ai Corporation Ltd ©2016 www.aicorporation.com
Credit & Debit Portfolios covered
5 distinct rule sets based upon transactional elements
For example, cross-border transaction rule set
80 Rules in total
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Freqency of Updates
Increase Fraud Detection 10%
75% Reduction in False Positives
Monthly complete refresh of rule set
Increase Accuracy
Speed of Implementation 90% Reduction in Analyst Time
Source: The ai Corporation
The ai Corporation Ltd ©2016 www.aicorporation.com
“We should let the human brain do what
it is good at, and let computers do what
they are good at - marrying the two is a
powerful thing.”
Dr Robert Frey
Professor State University Of NY
Former MD Renaissance Technologies
The ai Vision : Man + Machine