Big data analytics for fraud prevention

Analytics helps identify suspicious activities, as well as prevent potential fraud.

Fraud is an adaptive crime and most fraudsters are armed with the latest in technology. That means financial service institutions need to stay a step ahead. Big Data is becoming the go-to solution banks have been looking for to prevent and attack fraud without affecting the experience of the customer.

Thanks to big data analytics, a company can:

• Facilitate and speed up the process of fraud detection.
• Use predictive models and machine learning to scan for fraudulent transactions.
• Expose fraud in real time or initiate a further detailed investigation.