Preventing, detecting, and eliminating fraud is one of the major focus areas of the e-commerce and banking industries at present. Banks and other financial institutions are investing in new ways to meet the challenge of preventing fraud. Firms are now embracing Artificial Intelligence (#AI) and Machine Learning (#ML) technology to detect, investigate, and reduce money laundering and transaction fraud effectively and efficiently. AI-based fraud prevention is very effective at reducing chargebacks, fake accounts, spam, account takeovers and so on., says Payel Ghosh, Associate Principal Consultant, Cigniti Technologies.

Watch this preview video of our blog to learn more about the role of AI/ML in #paymentfraud detection.

https://www.cigniti.com/blog/payment-frauds-detection-ai-ml/