Combine AI and Microsoft Cloud to fight financial crime
The risk of fraud and other financial crimes has increased significantly.
More consumers are choosing e-commerce, digital banking, and online payment options. With every new mobile app or portal that facilitates online transactions, hackers identify new ways to exploit vulnerabilities and swindle end-users. Consequently, losses due to fraud run into billions for financial services organizations.
While prevention of financial crime is never easy, financial services organizations are initiating aggressive steps to combat fraud. However, the complexity of corelated datasets and siloed systems and applications hinder them from detecting fraudulent transactions as they occur and preventing loss. And here’s where leveraging the processing power of the cloud can help. The adoption of the right cloud infrastructure and strategic utilization of advanced artificial intelligence (AI) technologies can help financial service providers to:
- Identify suspicious activities in real time
- Gain insights into the tactics used by bad actors
- Stay ahead of potential miscreants
- Prevent cyberattacks
To read more on how financial organizations can master their cloud transformation journeys, click here.