Credit card fraud is now the number one type of identity theft, and credit card new account fraud rose an astonishing 88% in 2019.
With Octai’s no-code machine learning technology, it’s fast and easy to build a model to predict credit card fraud and falso positives
Using Octai’s self learning models, gather and analyze new data to update the existing model and provide a more precise scope of acceptable activity for a user.
Octai enables you to filter out upto 99.9 percent of normal patterns leaving only 0.1 percent of events to be verified by experts
False declines or false positives happen when a system identifies a legitimate transaction as suspicious and wrongly cancels it.
Unlike rule-based systems, Octai empowers businesses to be aligned with a constantly changing environment and financial conditions. Enabling analysts to identify new suspicious patterns and create new rules to prevent new types of scams.