This technology is meant to help businesses adapt to digital transformation in a secure way. Backed by AlphaRisk, Alipay’s fraud loss rate has been kept under 0.64 in 10 million. This means that for every USD 10 million worth of payments, fraud induced loss is less than USD 0.64, which is significantly lower than industry average.
AlphaRisk has four main features – AI Detection, Evolution, Perception, Auto Pilot –, and it offers real-time risk detection and management capabilities. It automatically analyses fraud attempts and patterns to adjust risk profiles, and takes countermeasures on the fly, while detecting new fraud patterns. AlphaRisk responds to new risks detected within one second and completes automatic risk profile adjustments within one day through self-learning and model auto-refit. Its Auto Pilot feature integrates more than 200 algorithms, which enables the system to automatically apply a risk management strategy while ensuring seamless user experience.
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