AI is helping organisations fight fraud

Digital banking and e-commerce channels are growing exponentially as more and more people use apps and mobile connectivity for transactions. For retailers, newer business models are evolving daily, 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 resulting losses in online marketplaces that connect buyers and sellers. That is especially true in e-commerce, where it is harder and more complex to prevent fraud than in personal transactions.