Our CEO Dr Mark Goldspink visited economic and financial intelligence website The Banker, to take part in one of their Tech Talks, a series of interviews with key figures in global finance. Mark gave insight into why artificial intelligence is becoming an increasingly important tool in the fight against fraud. The conversation began around what Mark believes to be some of the largest problems faced by the industry at this current moment in time, in particular, false positive management. There is a significant problem with inefficient processes across the banking industry, which is more evident in this area than ever before.
The decision making process needs to be streamlined in order for fraud teams to be able to keep up with the ever changing environment. As more and more different payment types become available, not only do we see an increase in the volume of transactions, but also new ways in which fraudsters can target individuals and companies. As the industry moves towards an omni-channel user experience it’s imperative fraud teams “get at those decisions quickly, in a more transparent way and with zero ambiguity”.
“The banks are throwing people at this problem” and in reality, are getting no nearer to solving it. This is where ai comes in. Our products are designed specifically to target this process and take away that inefficiency by using machine learning and artificial intelligence. The basic principle behind every solution we offer is that ai should do the heavy lifting and give internal teams the ability to focus their attention on those tasks that can’t be done by machines.
You can watch the full interview at: http://www.thebanker.com/video/v/5745107432001/tech-talk-interview-with-dr-mark-goldspink-the-ai-corporation