Reduce Upto 20% Fraud. During new on-boarding, issuance as well during claims processing, businesses finds different type of fraud that makes losses for businesses. In 2018, there was US $6B fraud globally.
There are many types of fraud that happens in financial & insurance sector.
- AI enabled platform to develop 360 profiling engine based on their behaviours, transactions, location, usages of payments methods, refund, EMI, loan, litigation, Payment, demographics, products.
- Anonymous pattern identification using website, app or other activities Digital data streaming to build digital identity, risk behaviours, interests, activities based on login Email ID.
- Using VISA’s real-time transnational APIs for fraud to match account, name, customer details & location
- Automated decision system to stop the fraud and monitoring to future improvements.
Fraud Types & Prevention
There are many types of fraud that are addressed using AI & Machine learning.
- Customer Identity Fraud
- Address fraud
- Payment Fraud
- Phishing Attacks
- Financial Fraud
- Claims & On-boarding Fraud
- Documents Fraud
- Photo, Signature Fraud
- Payments Fraud
- Early Claims Fraud
- Billing & Price Fraud
- Cyber Threats & Fraud