Good summary of how we make use of transaction enrichment to fight fraud. I have been part of various fraud system implementations and there is absolutely no denying that more we put in the effort to enrich transactions, more our fraud detection model has the clarity to appropriately flag the transactions. Apart from the example of geolocation quoted above, I have come across some additional use cases where transaction enrichment does wonders. To name a few:
1 - Scanning cyber security tools to determine device risk scores
2 - Additional session related information
3 - Use of POS/Merchant reference data to pull up information that may help in identification of transaction.
19 Nov 2023 09:55 Read comment
Vaibhav KhandelwalConsultant at IBM
Samuel CromptonAssociate Partner (Banking, Resilience and AI) at IBM
Emmanuel GenardBusiness Technology Leader at IBM
Aly FarooquiChief Risk Officer, Financial Services Cloud at IBM
Satya SamalPartner, Financial Services at IBM
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