The financial services industry faces the challenge of solving some of the very basic, age-old problems: Reconciliation, Fraud, Compliance, and Analytics. When it comes to fraud, It’s a war of technologies between the bad actors vs good actors. Think as if you are playing a video game with your opponent and you want a faster computer, more memory, better keyboard and mouse, a nice comfy chair to sit in so you can beat them. Except it’s not a game and your opponent is actually committing financial fraud. You need better gear, more power, more intelligence and something that can outsmart and outwit everyone else. In this talk, understand how a machine learning appliance running on an open source big data platform with built in algorithms is helping solve these issues for the banking and payments industry.
