News

Financial Firms Tackle Fraud with AI and Biometrics

October 17, 2018

Mark Gazit, CEO of  ThetaRay, says: “In an era when traditional financial crime is transitioning into cyber/financial crime powered by AI, banks cannot rely on old methods of identifying suspicious behavior, because criminals are able to make sure their crimes look identical to legitimate transactions. “Banks can only protect themselves by using AI-powered threat-detection systems that have the ability to rapidly analyze massive amounts of data, constantly monitor ongoing transactions and identify fraud as it happens, or even before.”