Combating Cross-channel Fraud with AI / ML. Clari5 Real-time Enterprise Fraud Management
Fraud is a $4.5 trillion global problem. The rise of digital banking, real-time payments and open banking have also created one of the biggest pain points for the banking industry - real-time fraud.?
Banking fraud is a wave after wave of multi-channel onslaught on banks. It can strike a bank anywhere and anytime through internet banking fraud, ATM fraud, credit card fraud, insider fraud, core banking fraud, money laundering and countless other forms of fraud.?
The threat of fraud keeps on growing even as banks try to curtail it by taking silo-based single channel approach. If banks try to cut off card fraud by going for an EMV card, a newer threat emerges in the form of CNP fraud. If banks try to combat internet banking fraud, fraudsters move to stealing from the mobile wallet.?
Meanwhile fraud losses keep on piling, not only denting the profitability of banks but also their reputation as trustworthy institutions among their constituent customers.?
Watch this short video to know how Clari5 EFM system arms your bank to combat fraud comprehensively and in real-time.
#fraud #AI #ML #fintech #banking #frauddetection #digitalbanking #realtime #payments #enterprisefraudmanagement