Following this announcement, the Workflow was powered by the NVIDIA AI platform on AWS in order to optimise the manner in which financial service organisations save money and mitigate risk. By leveraging accelerated data processing and optimising algorithms, the product is expected to improve AI’s ability to detect and prevent credit card transaction fraud as well.
The Workflow will also identify subtle patterns and anomalies in transaction data that are based on user behavior, aiming to enhance accuracy and reduce false positives compared with traditional methods. Customers will have the possibility to streamline the migration of their fraud detection workflows from traditional compute to accelerated compute while leveraging the NVIDIA AI Enterprise software platform and the NVIDIA GPU instances.
According to the official press release, the new NVIDIA Workflow will accelerate data processing, model training, and inference, while also demonstrating how these components can be wrapped into a single, easy-to-use software product. The Workflow can also be adapted for use cases such as new account fraud, account takeover, and money laundering, as the new tool is currently optimised for credit card transaction fraud.
At the same time, the NVIDIA AI Workflow for fraud detection will also improve XGBoost in order to create and train a model that can then be orchestrated with the NVIDIA Morpheus Runtime Core library and NVIDIA Triton Inference Server for real-time inferencing.
Systems integrators, software vendors, and cloud service providers will have the possibility to integrate the new NVIDIA AI Workflow for fraud detection in order to boost their financial services applications and optimise the manner in which companies keep clients’ money, identities, and digital accounts safe.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now