Machine learning solution for real time fraud detection and verification

Convergytics61805 Feb, 2023Business

In an increasing online world and many devices / channels for placing an order, customer fraud is becoming the biggest reason for margin erosion, Convergytics deployed a machine learning solution built on a big data enabled data layer to enable accurate fraud detection in real time. The solution which used a combination of unsupervised, supervised and heuristic analysis increased prediction of accuracy from 82% to nearly 93%