Fraudio

So far there are three generations of this technology:

1. First-generation solutions rely heavily on rule-based systems making it easy for fraudsters to learn the rules, circumvent and navigate through the protection.

2. The second-generation solutions use data science and machine learning, but their learning is limited due to the siloed data sets.

3. Fraudio is the third and latest generation in fraud solutions as it uses patented AI to connect datasets from all customers into a centralised super-model resulting in 40% more effective fraud detection and 15x more effective than a card scheme solution.

First and second-generation solutions require substantial customization with each customer, are very costly, require multi-year contracts, and include slow, expensive integrations.

Benefits of using Fraudio as a third-generation solution, according to the vendor:

• Fully managed, cloud-hosted API integration

• Scalability

• Fast and easy integration

• Multi dataset network effect and high-performance models

• Pioneering Patent - plug into its API and get protection from patented AI

PSP or Acquirer

With this add-on feature to Fraudio’s transaction fraud tool - Merchants are under the AI microscope. Customers can manage their existing merchant portfolio with confidence knowing our merchant fraud detection tool is monitoring, comparing and assessing every merchant transaction, and profiling their behavioural patterns from day one. Leveraging AI, networked datasets and cloud computing, customers are alerted of merchants' fraudulent behaviour while minimising false positives. Fraudio looks for normal activity and spots anomalies, identifying underlying trends that suggest risky merchant behaviour. Then sends alerts in real time and reports when necessary.

Issuer or Bank

Fraudio’s AML tool monitors transaction streams for anomalies that indicate emergent and multi-dimensional money laundering. Fraudio does this across shared datasets - expanding on customers’ siloed datasets and improving their ability to detect money laundering by giving access to the ‘bigger picture’. Utilising AI based peer and cluster analysis across Fraudio’s vast and diverse transaction and merchant datasets, this cutting edge technology adds immediate value by complementing a hybrid compliance strategy.

Free Proof of Results

The Proof of Results (PoR) process allows potential customers to test Fraudio’s solution and see real fraud detection results in the context of their company — it costs nothing and it’s obligation-free.