Machine Learning

Machine learning is a subset of artificial intelligence where computer systems “learn” from experience without being explicitly programmed. In the financial arena, machine learning can help improve fraud detection, mitigate risks, and streamline operations.

Computers are valued primarily for their ability to collate and analyze vast amounts of data quickly. Machine learning takes this a step further by detecting patterns and anomalies and comparing that against historical information. The more good data the computer has, the more accurate its decisioning will be.

This can be especially helpful for identifying fraudulent activities and assessing transaction risk factors. Machine learning can also be used for analyzing customer behavior and purchase history to help personalize the user experience.