Home Posts tagged "risk management"
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Best Practices for Achieving Success with Custom Modeling and Machine Learning

One of the most common reasons organizations fail to realize significant improvements in risk management after implementing custom modeling solutions can be described with one phrase: Junk in. Junk out. This article discusses best practices as it relates to data management and other factors that are shown to improve performance when it comes to custom

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Custom Modeling for Risk Management Requires Human Element, Not Just AI

While there is value in leveraging Artificial Intelligence for modeling and analytics to detect cyber threats and fraud, security professionals are still more likely to indicate that a human touch is more valuable. A recent survey found that half of organizations are making use AI or machine learning but 60 percent put more trust in

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PayPal Completes $120 Million Acquisition of Simility

PayPal completes their fifth acquisition in the past 12 months, this time purchasing machine learning fraud prevention provider Simility for $120 million. PayPal COO Bill Ready says each of these five recent acquisitions are part of the company’s effort to strengthen the services they provide to merchants. Simility was founded in 2014, they are based

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Global Spending to Increase on Fraud Detection, Cybersecurity and Big Data Analytics

Multiple studies and sources are coming to the same conclusion: organizations will be spending more on risk management and data analytics to keep up with growing fraud and business trends. This includes $9.2 billion spent on online fraud prevention services, $170 billion spent on cybersecurity and over $200 billion spent on big data analytics globally

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The Impact of Fraud Beyond Direct Financial Losses

Because eCommerce fraud is already painful with the reversal of funds, chargeback fees and lost product, the indirect costs are often ignored or are just an afterthought. Recent studies show the lasting impact payment fraud has on consumers, merchants and issuers, indicating that the cost of fraud continues beyond the initial loss. Increasing fraud has

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Meet with The Fraud Practice at the Upcoming CNP Expo in Orlando, Florida

If you are attending the CNP Expo May 18-21 then be sure to see The Fraud Practice at booth number 418 in the Exhibit Hall. For those who would like to find out more about our online training certification programs, we will be giving out free copies of David Montague’s Essentials of Online Payment Security

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How Manual Review Metrics Vary Across Small and Large Merchants

It can be difficult for merchants to really understand how well they are performing with manual reviews for online fraud management relative to their peers. In this FraudBlog post we look at merchant reported statistics from three surveys covering merchants of all sizes in North America and the United Kingdom highlighting major differences between high

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With Custom Modeling, Deployment is Just as Critical as Design

Whether an organization is building a custom modeling solution in-house, using a service provider or combining both in-house and third party resources, the fundamental components of an effective custom modeling solution are the same. Statistical models must first be created, which requires historical data, a team of modeling experts, as well as the right tools

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The Fraud Practice Offers Free White Paper and Webinar on Custom Modeling & Analytics for eCommerce Merchants

The Fraud Practice is hosting a webinar at 1pm ET on December 4th accompanying the new white paper titled “Enabling Custom Modeling & Analytics for The Modern eCommerce Merchant” which will be released the same day.  The eCommerce market has continued to mature over recent years to the benefit of both consumers and businesses that

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Differentiating Data Analytics from Data Analysis

In an interview with ZDNet, Josh Sullivan, leader of the data science and analytics practice at Booz Allen Hamilton, discusses the importance of human analysis complementing machine analytics. While the focus is on big data for any application, the discussion and points made provide insights and important considerations very relevant to modeling and analytics for

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