In this contributing post to FinExtra, Deep Labs Chief Strategy Officer Michael Lynch discusses that within organizations, fraud professionals and those responsible for revenue growth have been working against each other for decades. You can stop fraud almost completely of course, by making it nearly impossible for your customers to transact by placing limits on the transaction or transfer amount, excessive manual reviews, and requesting additional authentication information that leads to abandonment. 

Or you can maximize revenue by taking on more risk by minimizing the consumer security steps and security defenses. 

Understanding and recognizing your consumer from a 360-degree view, both with respect to risk and fraud mitigation, to their propensity, motivation to buy, and predicting their next product need is now possible using machine learning and artificial intelligence.

Read the full article here

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