New paradigms of fraud prevention
Our client, a financial institution, provides enterprise payment solutions within the EU to support banks, insurance companies, merchants, businesses, and public enterprises.
Banks utilize our client’s card payment services and digital payment acceptance systems in order to support their growing purchasing channels (e-commerce, NFC, mobile, contactless). Merchants use our client’s authorization and payment-management services to facilitate transactions over leading international circuits.
Fraud prevention and fraud management are central to these payment solutions, and Nextbit has been a key partner in making these digital payments more secure.
A deep learning model for real-time fraud detection
As part of a multi-layered fraud strategy, Nextbit has introduced a deep learning model to detect new fraud patterns in digital payments. This innovative algorithm is focused on detecting patterns not seen by more traditional fraud detection methodologies.
After a thorough assessment by our solution architects, the model was implemented using a cloud architecture. Special attention has been given to the secure processing of sensitive cloud data while ensuring low latency for real-time fraud detection.
We have designed, implemented and optimized an architecture consisting of multiple micro-services that have been replicated in three distinct environments: development, testing and production.
towards the future
Automating fraud risk assessment
Financial institutions are adopting strategies to manage and prevent fraud with the long-term goal of making digital payments completely secure and reliable.
Nextbit’s artificial intelligence approach leverages vast amounts of available data and makes digital payments more secure by detecting patterns not seen by more traditional fraud detection methodologies.
Find out how Nextbit can empower your team today
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