SEON announces new blackbox machine to its fraud-fighting solution

Tuesday 31 May 2022 12:04 CET | News

Hungary-based fraud prevention and fraud fighting company SEON has announced a new CatBoost blackbox machine learning update that will enhance its anti-fraud solution for businesses.

The new system has been incorporated into the company’s fraud-fighting solution and will allow businesses to enhance efficiency and precision for clients who are fighting various types of online fraud. SEON’s customers can now leverage the speed of the blackbox machine learning, alongside the transparency of whitebox machine learning scoring and rules.

SEON’s latest update allows users to calculate the probability of fraudulent transactions in real-time and make pertinent decisions for each processed transaction, aiming to deter fraudsters and provide a secure online environment for businesses, merchants, and customers alike.

Currently SEON helped companies save over EUR 50 million through its real-time, flexible API anti-fraud technology while reviewing over 1 billion transactions and serving more than 5,000 merchants.

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Keywords: product upgrade, fraud management, fraud detection, online fraud, fraud prevention, payment fraud, fraud platform, API
Categories: Fraud & Financial Crime
Companies: SEON
Countries: Europe
This article is part of category

Fraud & Financial Crime


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