In 2015, approximately 73 percent of financial services firms were either targeted for or fell victim to fraud.
The types of fraud schemes are becoming more varied. The speed at which criminals can steal and move money is accelerating. Financial services firms need new tools.
Analytics solutions are emerging as a key option in the fraud prevention space. Big data and machine learning can be used to identify signs of fraud and recognize problems before they escalate.
One pilot project achieved a fifty percent reduction in the duration of fraud due to analytics. The efforts involved also reduced the losses associated with fraud by sixty percent.
With digital technologies allowing criminals to commit fraud quickly and in varied ways, financial services firms need tools to help them keep up. GDS Link offers the combination of analytics capabilities firms need to get ahead of fraud in an efficient, sustainable way.