Use Case: Retail Fraud Detection & Prevention
Fast and accurate detection of potential fraud
It provides analysis to help brands identify anomalies and trends much faster and more accurately. Detect complex behavior patterns early enough to detect and act on fraud before it has a widespread damaging impact
Effective data processing in real-time
Traditionally, retail fraud detection systems work in response to past events. It means they can only avoid the scams that have already occurred. However, AI systems can assess anomalies in real-time and intervene in fraud before being attacked.
Reduce costs incurred by fraudulent activity
Retailers have more time to focus on key business goals if they don’t have to perform many manual transaction reviews and validations. For example, fraudulent analysts can provide recommendations on how you can manage risks associated with new and enhanced platforms without the burden of manual reviews and chargebacks.