Detecting and preventing fraud in the financial sector is rather challenging. Criminals get more crafty in this regard every single week. Companies such as the ai Corporation have to come with adequate solutions. Through a new partnership with Quatrro, fraud detection will become a lot easier. More unique solutions in this regard are direly needed. It will be interesting to see how this venture affects fraud rates in the US.

It is good to see fraud prevention companies work together in this day and age. The ai Corporation is a GCA-approved expert in fraud and risk management. Quatrro is a leading fraud detection and prevention services provider. When companies of this magnitude come together, big things are on the horizon. This partnership will introduce highly reliable behavior analytics and dynamic rule management. Additionally, it allows for maximizing revenue and attaining a competitive advantage for clients.

The Ongoing war Against Fraud

Moreover, the ai Corporation wants to improve its US-based presence. So far, this has not been an easy battle. There is a fair bit of competition in the market, to say the least. Offering new fraud solutions to financial institutions will yield some great results. Especially when considering how machine learning technology will play a big role in all of this. Combining machine learning with analytics capabilities will reduce fraud rates for quite some time. Or that is the goal both companies aim to achieve, at least.

The ai Corporation’s Nick Walker comments as follows:

“Our partnership with Quatrro is a significant step forward for ai. Expanding on our existing business in the Americas and providing a full-service solution for the banking community to mitigate risk or fraud across any channel. Between The ai Corporation and Quatrro, we will be providing the technology and the human skills for analytic and review purposes. So, it is a true example of man and machine in the fight against fraud.”

There is plenty of reason to be excited about this new partnership. Now is the time to take the fight to fraud in the US and the rest of the world. Criminals have had their way for quite some time now. This is not good news for consumers and merchants alike. Coming up with new ways to combat this threat is of the utmost importance. Ai and machine learning are the way forward, that much is certain.

Header image courtesy of Shutterstock

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About Author

JP Buntinx is a 30-year old FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he is working to achieve the same level of respect in the FinTech sector.

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