Fraud management, AI and machine learning: A primer - Business Reporter

Let's consider what factors are driving artificial intelligence applications for payments and transaction processing: Digital banking and ecommerce channels are growing exponentially as more and more people use apps and mobile connectivity for transactions. For retailers, newer business models are evolving every day, from instant delivery of goods to digital downloads. Commerce is now operating in an omni-channel environment across multiple devices and touchpoints. Growth comes with a price, as it has led to a corresponding rise in fraud - and fraud loss - in online marketplaces that connect buyers and sellers. That's especially true in e-commerce, where it is harder and more complex to prevent fraud than in person transactions.