According to a recent press release, “Kount™, the leading digital fraud prevention company, today announced the next-generation AI-driven solution that changes the way payments fraud prevention is delivered. Kount is the pioneer in using machine learning in transactional fraud prevention, with supervised and unsupervised solutions dating back to the company’s inception over a decade ago. Kount’s latest advancement creates the closest simulation of the decision process of an experienced fraud analyst, yet in a faster, more accurate, and more scalable manner. Kount’s AI uses both supervised and unsupervised machine learning along with additional calculations to deliver a near-human decision, allowing companies to control business-driven outcomes such as higher revenue, reduced fraud losses, and lower operational costs.”
The release continues, “Kount’s AI emulates an experienced fraud analyst by taking into account both historical fraud patterns as well as anomalies. When fraud analysts consider historic data for known fraud patterns, they look at the company’s data and their own experience to identify whether or not the person or transaction can be trusted. When Kount’s AI considers historic data, it turns to supervised machine learning, which is trained on Kount’s universal data network that includes billions of transactions over 12 years, 6,500 customers, 180+ countries and territories, and multiple payment networks. Then, fraud analysts look for anomalies—something in a transaction that doesn’t look right. This is where emerging fraud trends are detected. Kount’s AI uses unsupervised machine learning that employs advanced algorithms and models to detect anomalies much faster, more accurately, and on a more scalable basis than human judgment alone.”
Read more at Business Wire.
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