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Feedzai Launches OpenML, an Open Machine Learning Engine to Fight Fraud

by Angela Guess According to a recent press release, “Feedzai has launched the Feedzai OpenML Engine, in response to recognizing the need for data science teams to utilize their own tools and expertise. Built on Feedzai’s distributed microservices architecture, this powerful service allows data scientists to bring their preferred machine learning modeling and runtime frameworks, […]

Machine Learning a Great Tool to Fight Fraud, But It’s Not Foolproof

by Angela Guess Michael Liberty recently wrote in TheNextWeb, “‘No battleplan ever survives contact with the enemy,’ is one of history’s most telling statements on military strategy. It’s also the philosophy that data scientists, fighting an increasingly sophisticated class of fraudsters, must live by. We’re in the midst of an escalating battle against online fraud. […]

Stopping Wire Transfer Fraud with Big Data

by Angela Guess Dean Takahashi of Venture Beat reports, “Big data is coming to the rescue in stopping fraud in wire transfers, according to Western Union’s chief information officer. David Thompson, the chief information officer and executive vice president of global operations and technology, said in a fireside chat at VentureBeat’s DataBeat 2014 conference that the company has to […]

IBM Launches New Software and Services to Help Organizations Tackle $3.5 Trillion Lost Annually to Fraud

by Angela Guess A new article out of the company reports, “IBM today introduced new software and services to help organizations use Big Data and Analytics to address the $3.5 trillion lost each year to fraud and financial crimes. Through sophisticated business expertise and analytics, organizations can take a holistic approach to address the financial losses caused by fraud while […]

Machine Learning Part Of New Versium Solution To Quickly Find Fraudsters

by Jennifer Zaino Machine learning is playing a role in fraud prevention: This week Versium launched its Predictive FraudScore solution to help companies weed out fraudsters from signing up for their services or conducting ecommerce transactions with them. All the organization needs is an email address. The solution is based on Versium’s LifeData predictive analytics […]

Using MDM to Stop Improper Payments

by Angela Guess Melissa Delaney of Fed Tech Magazine recently wrote, “First the good news: In the past three years, the federal government has avoided more than $47 billion in improper payments. Now the bad news: It still doled out $108 billion to debarred contractors, dead people, prisoners and others who didn’t qualify for the checks they […]

Predicting Tropical Storms with Big Data

by Angela Guess Tom Groenfeldt of Forbes recently discussed how two companies are utilizing advanced data modeling and Big Data to analyze tropical storm data in real time. He writes, “Insurance and reinsurance firms will have new tools for predictive modeling of events like tropical storms in January when Wall Street Network (WSN) launches a cloud-based solution […]

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