FIs and merchants use machine learning (ML) to combat fraud
Fraud Prevention

Deep Dive: Unsupervised Machine Learning Steps Up To Fight Fraud

Fraudsters are getting increasingly creative when stealing money and data, but many FIs, FinTechs and merchants are still taking established approaches to fraud, reacting to each incident and hoping the damage is minimal. New solutions like unsupervised ML could help businesses prevent fraud from happening by detecting it early and reacting in real time. The following Deep Dive outlines how unsupervised ML tools could change the ways these players approach fraud.