As digital transactions surge, FinTech companies must navigate a maze of fraud risks. In a recent AI Journal analysis, software engineer Samuel Jaja explains how machine learning models monitor multiple data points like transaction velocity and behavioral cues. For example, real-time anomaly detection helps prevent fraud, offering firms a proactive approach to risk management.
Q&A
- What distinguishes fraud detection from risk management?
- How does machine learning enhance fraud detection compared to rule-based systems?
- What challenges come with implementing AI-powered fraud detection in FinTech?