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Using machine learning to assist with Risk scoring for payments

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How can machine learning be integrated into authorization messages to help banks in risk scoring for particular client profiles during transaction processing

Payments Technology
Risk Analysis
Cards
Opeyemi Familade
24 months ago

3 answers

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Not sure to understand the question. Could you elaborate ? Authorisation messages .... is it about credit card transactions ?

Didier Verstichel
24 months ago
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A vendor management software can use machine learning and connect the company's internal database which external ones. Internally contract provisions, payment terms and past behavior can take into account. Furthermore, such a software can search, like once a week, if there are any new red flags in the local press or other government databases.

Patrick Henz
23 months ago
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I am not sure if I understood you correct but few of the feature of machine learning are pattern recognition, intelligent data mining, and perception. These things can be used to identify the potential risk. However, in this case, availability of data, data integrity and validation is also very important.  

Hitesh Mathpal
23 months ago

Have some input?