Fraud Detection Engine Using AI for a Fintech App
Fraud Detection Engine Using AI for a Fintech App Online fraud is one of the biggest threats in the fintech space today. With transactions happening in real-time and across borders, traditional rule-based systems can't keep up. AI has changed the game. It brings pattern recognition, self-learning models, and predictive analytics into fraud prevention. This guest post explains how AI software development services were used to create a fraud detection engine for a fintech app. You'll see how real-time analysis, machine learning, and user behavior modeling helped reduce fraud, and why AI is now a must-have for fintech companies. Why Fintech Needs AI for Fraud Detection Fintech platforms handle high-value transactions, store personal financial data, and operate in a fast-moving ecosystem. That makes them ideal targets for fraudsters. Common Fraud Types in Fintech: Identity theft : Fake or stolen identities used to open accounts. Account takeovers : Criminals gain unauthorized acc...