Whether you try to detect fraudulent activities or not, humans are only getting more creative at it, and it doesn't seem like they will stop doing it anytime soon. To fight fraud, companies need to identify underlying reasons, then start detecting and recording fraud. If you have enough examples of fraud in the past data, you can let Enhencer learn from those and predict whether a transaction seems highly fraudulent or not.
Similar to some other use cases, Machine Learning does its job with fraud data by learning hidden patterns leading to fraud and predicting each new action as fraud, or not. To perform fraud prevention activities in real-time, you can implement Enhencer's output into your system or connect to it (API) and set alarms and automated actions as each new transaction is predicted fraudulent or not.
Detecting and preventing fraud will reveal quite valuable insights if fraud is a problem for your business. In a yearly report, high fraud rates will scare investors and shareholders alike. Also, if they know you are not hunting them, fraudsters will be seeing you as a vulnerable target.
Enhencer lets you share your predictions with others in beautiful dashboards. That’s why we call it: Predictive Storyteller
Use our offline and online data integrations for a continuous flow.
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