DataVisor

How do you trust something you can’t see—or even explain? That’s the conundrum facing many users of leading machine learning solutions that use a black box model. But while there is some bias in the space that black box works better, are we sure that’s really the case? DataVisor CEO Yinglian Xie explores that question in her Forbes article and shared her take. 👉 https://lnkd.in/ee_4iSAT #forbesfriday #ai #artificialintelligence #fraudprevention #machinelearning

Featured Innovator Fang Yu, Co-founder and CPO of DataVisor, Inc., shares insights on the crucial role of implementing necessary friction in customer experience. Learn more from other featured Innovators: https://lnkd.in/ebB8KtWN #CustomerExperience #FraudDetection #AI #Fintech #MitekInnovators

Friendly fraud is a bit of a misnomer. When real customers use their own information to commit fraud, it’s anything but friendly to FIs. But with card disputes projected to jump 40%, it’s clear first-party fraud, or “friendly fraud” isn’t going anywhere anytime soon. FIs, merchants, and BNPL providers alike need to crack down on friendly fraud by using modern, advanced fraud detection tools. 👉 https://lnkd.in/eamyz9ar

DataVisor is empowering financial institutions of all sizes with newly enhanced multi-tenancy capabilities. We are thrilled to announce these significant enhancements that enable core banking providers, processors, and acquirers to offer advanced fraud and AML tools to their customers, along with the flexibility to choose the right level of data segregation, control, and configurability for their business. Read more: https://lnkd.in/eJsP2TCz

📈 The BNPL market is expected to be worth $3.27 trillion by 2030. Yes, TRILLION. That number may cause some sticker shock, but when you think about how often you see BNPL options when shopping online it’s less surprising and more thought-provoking. What are the implications of BNPL, essentially a loan to shoppers, becoming a top payment option online? As with any rising new payment service, fraud is near or at the top of the list. The merchants rarely bear the responsibility of stopping BNPL fraud—that’s a job for the BNPL providers they work with. So, how should they prepare to detect the fraudsters working to take advantage of BNPL? There are a few key places to start: 👉 Harness comprehensive data sources - behavioral biometrics, device intelligence, and device fingerprinting are key 👉 Real-time data orchestration - all that data needs to be orchestrated in real-time for analysis 👉 Customized rules and features - tailored fraud solutions always outperform generic ones 👉 Unsupervised machine learning - to unveil unknown fraud patterns as they happen 👉 Generative AI - GenAI cuts manual work so fraud teams can focus on creating strategies

Real-time payments are projected to reach $575 billion in just 4 years, according to data from a new PYMTNS study. It hasn’t even been a year since the Fed rolled out their real-time FedNow solution, but already real-time payments are reaching massive levels. Why? Because real-time payments have been customers’ choice for years. Is your FI ready to respond to the real-time fraud that comes with this increase in real-time transfers? #realtime #payments #ai #artificialintelligence #fraudprevention #machinelearning

We’re thrilled to share that we have joined the CyLab Venture Network. We’re excited to serve as inaugural contributors to a network dedicated to nurturing cybersecurity startups and engaging investors to help maximize their potential impact through Carnegie Mellon University’s research, innovation, and talent in the entrepreneurial ecosystem. Learn more and join us in our mission today: https://lnkd.in/gPEWNE48

🚀 Today’s the Day! 🚀 Join us at 11am PT / 2pm ET in our live webinar with Mastercard "Day Zero Risk and the Beginning of the Customer-Centric Journey." Dive deep into the strategies for winning customers and combating fraud right from onboarding. Hear from experts Dennis Maicon and Sarah Strano as they explore: - The principles of Day Zero Risk - The need to rethink traditional PII verification - Cutting-edge onboarding fraud detection techniques - Continuous customer monitoring using AI/ML This is a must-attend for fraud prevention leaders looking to be at the forefront of risk prevention in 2024 and beyond. Don’t miss out! Join the Webinar 👉https://lnkd.in/gi-VEdRz