We’ve been utilising our machine learning technology to protect fuel card users
Written on 5th, September 2017
We are helping global retailers to combat fraudulent use of fuel cards, and protect users, using artificial intelligence (A.I.) and machine-learning (ML), in a move that will revolutionise the global retail industry’s use of fuel cards.
We’ve developed a suite of self-service machine-learning products to enable fuel card issuers to reduce the impact of a number fraudulent activities – including card copying, card swapping and skimming; at the same time as identifying and stopping fraud before it takes place.
Our Fraud Analysis team has extensive experience in helping organisations that operate card schemes to take the fight to criminals; and our unique A.I. and ML technology has already saved businesses a huge amount of money. Our products are being used to help fuel card issuers prevent fraudulent activity in over 40 countries around the world, covering 150,000 sites and over 90 card and product types.
Our unique technology gives fuel card retailers the opportunity to write their own rule sets into any fraud platform, including our own rules engine, RiskNet®. By using machine-learning, retailers can automate their fraud prevention, mitigating fuel card and transaction fraud, regardless of how and where it is perpetrated.
Matthew Attwell, Risk and Client Service Director here at The ai Corporation, says: “ai’s blend of fraud expertise and innovative machine learning technology has been proven to deliver stand-out benefits to the fuel card sector. In a sector that involves sophisticated issuing relationships, with high multiples of cards for a single customer account, machine learning has proven it can deliver the high degree of accuracy to match, and then beat, the fraudster.”
How our technology is helping to beat fuel card crime
RiskNet® can identify any type of fraud by creating specific rule sets for each type of fraud, whether it’s copied cards, card application fraud, driver-side collusion, the use of counterfeit cards or lost and stolen cards. RiskNet® is widely acknowledged as best-in-class. It is a real-time and near real-time self-service rules engine for the detection and prevention of fraud and other suspicious transactions, which supports multiple global card schemes.
SmartScore®, one of six products within our SmartSuite, creates neural models using artificial intelligence and automated machine-learning techniques, to recognise patterns and trends in fuel card fraud, providing transaction risk scores to be used in conjunction with user-defined rules and parameter-mapping.
For more information around the types of fraud within the fuel industry, download our Fuel Fraud File .
If you would like to speak to a member of the ai team, to discuss how we can help you reduce fraud within your business, please call us on 01483 661 240 or email email@example.com