Analytica Data Science Solutions

The financial services industry and industries that involve financial transactions suffer from fraud-related losses and damages. In 2016, fraudsters stole nearly $6 billion from banks and financial institutions in the US. We helped one of our financial clients detect fraudulent transactions. Our approach was to apply ML-based fraud detection to help identify fraudulent transactions. ML-based fraud detection helps in finding hidden and implicit correlations in data. It also allows for automatic detection of possible fraud scenarios and allow for real-time processing.