Preventing Fraud with Machine Learning

How we improved our client's fraud detection system with Machine Learning & Data Science. Find out more.

Machine Learning

Big Data

Data Science

Industry

Fintech

Service

Custom AI Development

AI Consulting Services

About Evertec

Evertec is a leading electronic transaction processing company. It operates in 25+ countries and has 2.5K+ employees. It processess 6+ billion transactions per year and has over 30 years of experience in finance, providing services in three key areas: merchant acquiring, payment processing, and business solutions.

The Challenge

Evertec needed to create a new fraud detection system for a client. The new system had to be developed to perform better than the existing one to accurately score the risk of credit and debit transactions to prevent fraud. Also, it had to reduce the false positive to true positive ratio and increase the accuracy of fraud detection. Out team had to go through all the data, organize it and be ready to prepare the datasets to train the new system.

The Solution

We created a new fraud detection systrem that helped Evertec and their client. Our solution made sure to:

Understand and curate their data (500 million records) using Data Science techniques.
Develop machine learning fraud scoring models that outperformed those previously in production.