Gourish Hosangady, VP Business Analytics at Aithent Inc., will be speaking about strategies to reduce false positives.
The talk is targeted at middle market banks and credit unions and describes a solution that can address a key challenge facing bank officers who deal with fraud. The SAS Global Forum is the premier worldwide event for SAS professionals.
The abstract for the talk is given below along with a link to the SAS Global Forum schedule indicating the time and location for the talk.
Financial institutions generate enormous amounts of transaction data each day. The pressure on compliance and the need for quick detection of fraud continues to increase. The same institutions need to reduce losses from penalties and fraud as a consequence. The challenge lies in how best to use a select set of rules coupled with modeling—using data science and machine learning techniques to address this challenge. Suspicious transactions should be flagged with minimal false positives. The process also should maximize productivity and create a degree of seamlessness in both alert creation and investigations. Once compliance and fraud are both addressed, further analysis of customer and transaction data might be performed to gain insights into customer behavior. Such an approach can achieve the following goals: a) Reduce false positives, achieve cost benefits. This outcome also maintains customer satisfaction as excessive false alerts cause customer attrition for banks, in addition to reputational damage; b) An ability to create new rules and thus be ahead of the game with respect to fraudsters. Rules can get outdated quickly, so tweaking thresholds and modifying rules is much needed; c) Create an end-to-end process from alert generation to case management to reporting; and d) Create a closed loop system so that data about true fraud can be fed back into the source data for corrective modeling.
The presentation is held on Monday, April 9 2018, Denver, Colorado at 3:30 PM-4:00 PM. Please click below link for more detail. http://www.sasgfsessioncatalog.com/#/speaker/company@7@Hosangady%20Gourish%3E0@3269
Exec Vice President, Aithent