The Company
A leading financial institution focused on securing transactions and reducing fraudulent activities across its credit card network. With increasing sophistication in cyber fraud, the company aimed to adopt advanced AI-driven solutions to enhance fraud detection accuracy and minimize financial losses.
Problem Statement
Credit card fraud remains a persistent challenge for financial institutions, causing billions in annual losses. Traditional fraud detection methods face limitations such as:
- High false-positive rates, leading to unnecessary transaction declines and poor user experience.
- Inability to detect novel fraud patterns and emerging tactics.
- Slow adaptation to evolving fraud techniques.
The company needed a more robust solution that could proactively detect fraudulent activities, reduce false positives, and enhance overall transaction security.
