An orchestrated fraud hub that can provide cohesive and contextualized machine learning based decisioning to connect account activity and stop transaction fraud and improve your business overall. Vesta's Srividya Sunderamurthy provides Simona Negru of The Paypers with explanations why it's important.
Fraud is a growing concern: the global market is flooded with a variety of specialized fraud solutions i.e. solutions that focus on one specific type of fraud, which means fintechs, FIs, and merchants have to evaluate the decisions and alerts coming out of each of these solutions in a siloed and non-contextualized manner. Without having a risk engine or a platform hub that can harness the decisions seamlessly across these various detection points, it can either lead to ineffective decisions or more friction with customers.
The cost of vetting and partnering with individual vendors and fitting them within the fraud operations ecosystem is rising, and at a time when budgets are limited, filling the gaps between fraud solutions with manual operations only ends up becoming more expensive.
Read the full interview here.