Entrepreneur

Internet fraud is a menace in our various financial institutes, and many fintech companies have been victims of this fraud game. Detection of these attacks comes in two ways: through inconsistent traditional methods or using ever-growing artificial intelligence mechanisms. Traditional methods, such as the rule-based method, are still widely used by most fintech companies in contrast to AI. At the same time, some are adjusting to leverage machine learning and artificial intelligence, improving ways to detect fraud. How have AI and machine learning improved fraud detection in the fintech industry?