In this episode of The Payments Show Podcast, I spoke to Daniel Faggella, who is the CEO of Emerj Artificial Intelligence Research.

A key area of focus for the company is helping the Financial Services industry to reduce payment fraud using AI solutions. Scammers are taking advantage of the COVID situation to commit eCommerce fraud, card payment fraud and insurance fraud. Daniel explains how AI can be used to fight these problems and more. 

Summary of topics discussed:

1. Scoring of AI Startups based on multiple criteria
2. Reduce payment fraud in 3 areas: eCommerce, Credit Cards and Online Platforms
3. AI to detect anomalies to normal payments
4. Recognise past fraudulent payment activity with AI
5. Use AI instead of fixed rule sets which give lots of false positives
6. Identify new types of payment fraud with AI instead of using humans
7. Do not think of AI as a traditional IT Solution
8. Best and worst use cases for AI solutions
9. Reducing fraud in Banking, Wealth Management and Insurance
10. Reducing Friendly Fraud

10m Highlights Version: click here

Details:
- Recorded on 09 April 2020
- Host: Satwant Phull, Founder of Digital Money Lab
- Guest: Daniel Faggella, CEO of Emerj Artificial Intelligence Research

[Next Steps]
- Get in touch with Satwant: digitalmoneylab.com
- emerj: emerj.com

[Support the Show]

Buy Bitcoin and receive $20 cash bonus!
Bitstamp is the original global cryptocurrency exchange. Buy instantly with a card: bit.ly/3mQTk9A

Exchange 150+ different cryptocurrencies
Exchange and purchase over 150 cryptocurrencies with Changelly: bit.ly/2YlimDz

Fee-free Overseas Currency Transfer
Get a fee-free currency transfer for you or your business with Wise: bit.ly/3DJBBGU

Disclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you.