How transparent is the company on fraud risk analysis and what is the level of data that they share back? Because you should be able to 1) control who you do business with and 2) there is a tremendous amount of business intelligence that you can obtain from a good fraud detection platform (you can use that to grow profits).
What is Fraud Detection and Prevention? It wasn’t that long ago that fraud detection and prevention involved reviewing a fair bit of historical data analysis. Data scientists would be poring over tons of credit card records in order to spot fraudulent (or with luck, potentially fraudulent) activity.
Fast forward to today and we see fraud detection systems depend on catching and stopping fraud the second it’s spotted or even before it actually occurs. Automated solutions for fraud...
How transparent is the company on fraud risk analysis and what is the level of data that they share back? Because you should be able to 1) control who you do business with and 2) there is a tremendous amount of business intelligence that you can obtain from a good fraud detection platform (you can use that to grow profits).