The ai Corporation named as a Representative Vendor in Gartner® 2021 Market Guide for Online Fraud Detection
LONDON, July 22, 2021: The ai Corporation (ai), an FCA approved expert in payments, fraud and risk management, has been recognised as a Representative Vendor in Gartner® 2021 Market Guide for Online Fraud Detection.
ai’s suite of self-service, fraud prevention and risk analytics products, and managed services offer the world’s largest financial institutions and international merchants’ multiple ways to enhance their fraud strategies to prevent fraud. By monitoring over 25 billion transactions and authorisations each year, ai protects and enriches payments experiences for more than 100 banks, over three million multi-channel merchants and over 300 million consumer cardholders worldwide.
Dr Mark Goldspink, CEO of ai, says: “We are delighted to be named as Representative Vendor in Gartner Market Guide for Online Fraud Detection. ai has a long track record of developing innovative fraud solutions, which are proven to reduce fraud and increase profitability. For example, our new automated fraud management solution, aiAutoPilot MLTM orchestrates the entire fraud management process automatically, allowing our customers to develop or refine their fraud rule strategies in minutes. It uses the latest machine learning to optimise fraud detection models, curate and combine manual and machine-generated rules, and identify which rules should be removed from a system to minimise false positives.”
The Guide states: “Online fraud detection remains a key competence with the ability to deliver value across an expanding range of use cases. Security and risk management leaders must take advantage of market shifts to increase ROI and reduce both complexity and operational costs in their fraud detection strategies.”
ai’s suite of ‘multiple applicable’ solutions, which were recognised in this year’s Online Fraud Detection Market Guide, includes:
- aiAutoPilot ML™ is the world’s first fraud management automation tool enabling rapid response to the latest threats with minimal manual intervention. It uses the latest fraud detection algorithms that are proven to increase fraud detection and reduce the overall number of system alerts. This standalone tool can be used with any existing fraud system to help managed the full end to end operational processes used by fraud teams around the world. On average, the tool can implement over a hundred recommended rule strategies changes within 3 hours. These include removing pre-existing rule sets and implementing new ones that enable the Fraud Analyst to focus on other critical business priorities.
- aiRiskNet®, powered by aiAutoPilot MLTM, is an all-in-one solution that covers the payment cycle for Acquirers, Issuers and Merchants, while covering all payment types for both pre-authorisation and post-authorisation merchant and transaction management.
- aiFraud Managed Service is an industry-leading service that takes advantage of the latest technologies that can streamline fraud operations with customisable rules, insights and risk scores. It can seamlessly enhance and improve your fraud management capabilities and support the development of a fraud management strategy tailored to your business and customer needs.
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Gartner, ‘Market Guide for Online Fraud Detection’, Akif Khan, Jonathan Care, July 12, 2021
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About The ai Corporation Limited (ai)
ai is trusted around the world for developing innovative technology that allows our customers to take control and grow profitably. Founded in 1998, we have a long track record of providing solutions to some of the world’s largest financial/payment institutions and international merchants. Our long-standing business partnerships are based on making things simple and providing self-service tools that allow our customers to take control. Through our relentless focus on these tools, we constantly strive to help our customers create highly profitable returns.
Take Control: Simply Stop Fraud.
Today, our unique self-service fraud detection solutions are considered by many industry “thought leaders” to be the best in the world. Our solutions, including our new “state of the art” machine learning/A. I, protect and enrich payments experiences for more than 100 banks, over three million multi-channel merchants and over 300 million consumer cardholders. We also monitor over 25 billion transactions and authorisations each year. These machine learning technologies are also flexible enough to be applied to other business processes that require detailed consumer insight for marketing or pricing.
Take Control: Simply Manage Omni-Channel Payments:
In line with customer demand, and as the payment value chain continues to converge, ai is positioning itself to take advantage of the evolution of payments digitation, by exploiting our fraud and analytical capabilities. To support this ai’s payment gateway, issuing platform and European Money Licence, mean we can act as a payment facilitator for our business partners, allowing them the luxury of rapidly launching new alternative payment types into the marketplace. A truly end-to-end offering which uses “state of the art” machine learning to manage omni-channel payment transactions securely via a cloud-based platform.
Find out how ai can provide innovative technology that will help you grow profitably by visiting www.aicorporation.com