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Featurespace’s Post

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6d Edited

What role does adaptive behavioural analytics play in preventing fraud? We asked the experts 💡 Head of Solutions Consulting Maff Gibson and Presales Solutions Consultant, Ana Raposo, share their insights on the preventative benefits of using the system 📈 👥 It creates profiles on the day-to-day of customers, improving and deepening an understanding of them ❓It asks the right questions - what would we expect this customer to do? Is it legit or not? - without depending on your customer to be the perfect person 💡It improves an understanding of how, when and where customers transact, with the possibility of empowering customers to understand those trends

Transcript

Adaptive behaviour analytics has a really important role in preventing scams and other types of fraud. And so you know, thinking about how you really understand your customer, if you're taking a scams perspective, there's lots of controls that are in place. So things like can they provide their password? Do they know a PIN number? Even things saying the customer saying and genuinely believing that they are making a payment to a friend in need. All of these can be traps. And that's behavioral analytics takes this approach of what would we expect this customer based on their individual behavior to do. And that allows you to make that judgment call between is this legit or is this not, which doesn't depend on your customer being a perfect person. So adaptive behavioral analytics allows us to create profiles on day-to-day behavior for our customers. And by doing that, we can understand new fraud strategies by understanding the deviations. From those profiles that we built with adaptive behavioral analytics, we understand how customers transact, where they transact and when they transact. And by having that, we then have the possibility of empowering our customers to understand those trends.

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