What ’ s perhaps most exciting is that , soon , enterprises will be in a position where their approach to fraud prevention is far more proactive than reactive , thanks to Gen AI ’ s ability to continuously learn and evolve .
“ Generative AI can play a critical role in enhancing fraud detection and risk management capabilities within the fintech industry ,” Couldwell adds .
“ AI models can analyse real-time transaction data , identify patterns and anomalies , and flag suspicious activities in a timely manner . This proactive approach can help financial institutions prevent losses , protect customer data and maintain regulatory compliance .”
Clearly , financial institutions have been employing technology designed to detect abnormal user behaviour for decades , but now the ante has been upped significantly thanks to the greater precision made possible by Gen AI .
“ AI ’ s ability to study user behaviour and detect patterns can create a strong
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