Combating Fraud With Machine Learning PYMNTS.com

Using machine learning to fight fraud may just be starting to see its day in the sun, but if industry trends are to be believed, it's fast becoming the soul of the global fraud fighting machine. From offering fraud protection to identity verification, machine learning is increasingly being used by companies small and large to build out their next generation of products. In the last month alone, the digital identity space has seen numerous players roll out upgrades to their tools and services, which are now being powered by deep learning algorithms. In Cyprus, for example, AU10TIX announced the launch of its new OCR reader that utilizes deep learning algorithms to decipher complicated language fonts and extract content from difficult-to-read ID documents. Back in the states, Calif.-based Sift Science debuted its account takeover (ATO) prevention tool.