Alivia Analytics’ Post

To stay ahead of billing irregularities and fraud in healthcare you cannot rely on the traditional methods of pattern recognition, edits and algorithms. You need artificial intelligence and machine learning to uncover significant areas of opportunity Alivia Analytics #FWA #healthcarefraud #paymentintegrity #healthcarecompliance #paymentaccuracy

🔍 Traditional vs. Cutting-Edge: Evolving Financial Fraud Detection with AI 🚀 🔒 For years, financial fraud detection relied on traditional methods—a rear-view approach. But times are changing! As financial managers, business owners, or e-commerce entrepreneurs, you understand the vital need for proactive protection. 🛡️ Traditional methods often lag behind, reacting to fraud only after it occurs. But imagine a future where your defenses are ahead of the game—where Artificial Learning enables real-time, predictive fraud detection. 💡 Embrace the Future: Recent advancements in AI have revolutionized fraud detection. Machine Learning models equipped with robust algorithms analyze vast datasets, spotting anomalies and patterns with unprecedented accuracy. ✨ Imagine preemptive alerts before fraud strikes, insights gleaned from behavioral analysis, and adaptable systems that evolve with emerging threats. That's the power of AI in safeguarding your finances. 🚀 It's time to shift from reactive to proactive! Equip your business with cutting-edge AI-driven fraud detection to stay steps ahead of fraudsters. Let's explore how AI can fortify your financial security. 📈 Reach out today to discover how AI can transform your fraud prevention strategy. Embrace innovation, stay secure, and safeguard your financial future! #AIforFinancialSecurity #FraudDetection #ArtificialIntelligence #BusinessProtection

Want to detect healthcare fraud, waste and abuse before you pay and proactively manage your risk? Check out our demo to learn how Mastercard Healthcare Solutions AI helps prevent fraud before payments are made. https://bit.ly/3PWkOG1 #AI #ArtificialIntelligence #Healthcare #Fraud #FraudProtection

Voice recognition and AI are vital in addressing the growing need for effective fraud prevention. By modernizing anti-fraud strategies and harnessing more efficient data collection and processing methods, insurance companies can meet these demands without compromising the quality of customer interactions. Machine learning is a critical technology that plays a significant role in fraud prevention. Discover more about how machine learning and voice recognition can effectively prevent fraud in the video below. The link to the full video is available in the comments section.⬇ #insurancefraud #insuretech #aiininsurance #voicerecognition #frauddetection

🔒 Unlocking the Future of Financial Security: AI and Machine Learning in Fraud Detection Hello LinkedIn Network, Today, I wanted to share some insights into a transformational force shaping the financial industry - Artificial Intelligence and Machine Learning. In the ongoing battle against fraud, these technologies have emerged as formidable allies for financial institutions. Here's why they are so crucial: 🌐 Unparalleled Data Analysis: AI and ML can swiftly analyze vast datasets, identifying subtle patterns and anomalies that would elude human detection. This capability is instrumental in spotting fraudulent activities. 🕒 Real-time Vigilance: With AI, we've achieved 24/7 real-time monitoring of transactions. This ensures that any unusual or suspicious activity is identified instantly, reducing the window of opportunity for fraudsters. 🧩 Behavioural Analytics: Machine Learning models can create detailed customer behaviour profiles. Deviations from these profiles act as red flags, prompting further investigation. It's like having an AI-powered detective on the case. 🚨 Early Warning Systems: Predictive modelling allows us to assess the risk associated with each transaction. This means we can act proactively to thwart potential fraud before it occurs. 📉 Reducing False Positives: AI's accuracy in fraud detection minimizes the disruption of legitimate transactions. This is a win-win, as it enhances security while ensuring a seamless experience for customers. 💡 Adaptability: Fraud tactics are constantly evolving. AI systems evolve with them, continuously learning from new data and staying one step ahead of fraudsters. 💰 Cost Efficiency: Implementing AI and ML for fraud detection leads to long-term cost savings by reducing the need for manual intervention and streamlining resource allocation. 🤝 Customer Trust: Effective fraud detection is a cornerstone of trust between financial institutions and their customers. It's not just about security; it's about preserving the reputation and confidence of the institution. As we navigate the dynamic landscape of financial fraud, AI and Machine Learning remain indispensable tools in our arsenal. They empower us to detect and prevent fraud more effectively, safeguarding the interests of both institutions and customers. #AI #MachineLearning #FraudDetection #FinancialSecurity #Innovation

This is a fabulous read for all the really curious Financial Fraud Professionals in terms of what is coming next to help get the next jump barrier in place to thwart criminals #fraudprevention #hyperautomation #ai #banking #payments #fraud Rajesh Iyer Marie Walker Paul Chang Kris Vandenberk Ajit Gaddam Morgan Stanley Wells Fargo ING Barclays Lloyds Banking Group Euroclear BNP Paribas BNP Paribas Fortis Fidelity Investments Goldman Sachs Vanguard Apple Global Payments Inc. Visa Mastercard Revolut Stripe Santander Brasil Virgin Money JPMorgan Chase & Co. Lloyds Banking Group Morgan Stanley Vanguard ING KBC Bank & Verzekering AGCO Finance Barclays HSBC Euroclear Goldman Sachs DBS Bank Global Payments Inc. Google KBC Bank & Verzekering

Relying on AI to combat fraud in 2024 #ATPS2024 Relying on #artificialintelligence (AI) and blending it with human expertise to fight fraud is high on the agenda of travel merchants. A main objective is to be in more control of the situation, letting legitimate transactions go through, including the seemingly sceptical ones, and at the same time blocking the illegitimate ones.   Merchants are looking at doing less of repetitive work. For instance, in case of trying out new rules, how to count on existing data and acting on the same. “…but now if we suddenly see a new pattern, we can quickly take action ourselves,” according to Iberia’s Carmen Gavilán Chamber. A key learning in this case is - learning from data and technology-usage to leverage the same for “smarter” insights and if data is managed properly, it can help in separating good and bad customers more efficiently. The team at Iberia is looking at incessant profile risk across the user session including when one is using the app.   In terms of how to act, where machine learning (a subset of AI) #algorithms are proving their worth is – assessment of complex transaction data and delivering a risk score in a flash.   The more data you feed a #machinelearning engine, the more trained it becomes, but it also needs to be remembered that incorrect data results in poor decision making. The efficacy needs to be checked for algorithms’ performance in terms of separating genuine and friendly fraud transactions, as well as the number of false declines. Also, evaluate the pros and cons of blackbox machine learning and whitebox machine learning. The team at SEON recommends that the focus needs to be on being able to filter the rules by any data point, looking at feedback data to refine rules, and testing rules on historic data, along with the ability to switch the rules on and off and witness their accuracy in person.   A trend worth keeping an eye on in 2024 is how tools are going to capitalize on data from both open and closed sources, and set up fraud knowledge on top of it. By Ritesh Gupta, Ai Events Christopher Staab Tamas Kadar Kevin Lee Neil Govender Martin Lee Erik Knoester #fraudprevention #airlines #conversion

Just one day to go until NorthRow's Wired-In webinar featuring SEON’s CEO, Tamas Kadar! 🚀 Tamas will be sharing his expertise on the cutting-edge applications of AI designed to secure and streamline payment processes. The session will also delve into how SEON leans on AI and machine learning to stop fraud before it happens. You’ll learn: ✅ Why we need to lean on AI and machine learning for faster and more accurate fraud prevention, and how you actually do it in practice ✅ How AI supports seamless payment experiences, driving customer satisfaction, trust and loyalty ✅ How AI is shaping the future landscape of payment fraud prevention and driving SEON’s innovations Don't miss out on the opportunity to gain invaluable insights and practical solutions to elevate your payment security and fraud prevention strategies. Sign up here: https://bit.ly/3IafGwd #AIinPayments #SecurePayments #NorthRowWebinar

The advent of real-time payments has brought the simultaneous rise of instantaneous fraud. The potential for gain and loss in this new landscape is staggeringly large. Read the latest whitepaper authored by Sriram Natarajan and Paresh Ashara, CFP® to learn how FIs can avert this damage with AI. Click to read- https://lnkd.in/gAu267CS #PaymentScams  #OnlineSafety #QuinteSecurity #StayProtected #Security #Quinte #SafetyFirst #ScamProof #incverified #incprofile #quintefinancialtechnologies #TechInnovation #FinancialRevolution #processautomation #processefficiency #operationalexcellence #financialtechnology  #membersupport  #processexcellence #cloudsolutions  #automation  #TechInnovation #AIinAutomation #EfficiencyBoost #DigitalTransformation #StreamlineProcesses #RoboticAutomation #AIEnabledAutomation #InnovationInAutomation #AutomateYourWorld #AutomatedFuture #generativeAI #AitoRescue #businessdevelopment  #BusinessStrategy #CustomerExperience

"If you are scammed into moving your money out of your account, you won’t be protected if it turns out to be a scam. And you probably won’t get that money back...". The excerpt from the article by FTC Consumer Advice - https://lnkd.in/e7d8x6ts Please read my whitepaper on how FIs can leverage AI in scam protection and in turn protect their customers/members from payment scams. #paymentscams #ai #banks #creditunions