The importance of spotting potential risks and tackling problems in real-time is growing as thequantity of data keeps expanding. Grouping together machine learning, streaming analytics andcomprehensive case management creates a complete end-to-end risk management system toimprove and supplement your usual procedures.
Machine learning falls under a division of artificial intelligence that permits computers to findpatterns and data to constantly improve and adapt generated models through experience andadditional information. In risk management, machine learning is used to determine the riskiestdata, recognize the most probable drivers of risk and minimize false-positives.
(a) In 2016, financial fraud losses in the UK totalled £768.8 million and payment card fraud madeup 80% of the total. The industry also prevented £1.38 billion of attempted fraud.
To fight financial crimes such as antimony laundering (AML), credit card fraud, tradesurveillance and medical fraud, your business needs to be proactive in detecting risks like fraudquicker and more successfully. Combined with predictive analytics, streaming analytics, andbusiness process management TIBCO’s risk management solutions will aid in delivering apowerful and cost-effective system for detecting anomalies.