MJV Innovation, a leading global consultancy on digital transformation, data analytics and design thinking, published a new case study documenting how it helped a major financial institution leverage machine learning to facilitate fraud detection.
As global financial institutions see their exposure to fraud increase rapidly thanks to changes in technology, manual fraud detection initiatives have become unwieldy and increasingly ineffective. In this particular case, MJV was tasked with building an AI model to detect possible fraudulent account applications for the client’s Mobile Payment System.
MJV’s AI model for the client became a primary filter for incoming new applications and proved to have a 74% success rate on the applications that it flagged as fraudulent, while also reducing the manual workload for the client’s employees and improving productivity.
Read the full case study to learn more about AI’s role in fraud detection: https://services.mjvinnovation.com/us/case-study-reducing-risk-by-automating-fraud-detection/
About MJV Technology and Innovation
MJV Technology and Innovation is a leading global consulting and development firm specializing in digital transformation. The firm serves Fortune 500 clients including Coca-Cola, Delta, BNP, Cartier, and more in implementing data-driven innovation and strategies, including design thinking, ESG practices, consumer experiences, and data analytics. The firm was founded in 1997 and has locations across the US, Europe, and Latin America.