Enhancing Banking Security: Leveraging AI and Data Engineering for Effective Fraud Detection and Prevention
Video size:
Abstract
Discover how AI and advanced data engineering revolutionize fraud detection in banking! Our research showcases cutting-edge techniques boosting detection rates up to 90%, reducing false positives by 25%, and enhancing operational efficiency. Learn from success stories at top banks.
Summary
-
AI and data engineering is setting new standards in fraud management. Leading financial institutions have seen remarkable success with the integration of our AI driven systems. Integration of AI into banking security is not just a trend, but a necessity in today's digital age.
Transcript
This transcript was autogenerated. To make changes, submit a PR.
Hello everyone. Myself, giddy Prasad Manoharan. I work
for a company called Citibank Investment Banking
side as a senior artificial intelligence data
engineer. And here I'm going to talk about enhancing
banking security with artificial intelligence.
So here's the introduction of the banking security and AI.
So table of contents
enhancing banking security with hey,
welcome to a pivotal exploration of how artificial
intelligence is transforming the landscape of banking security.
As a financial crowd becomes more sophisticated and frequent,
the need for robust reduction and prevention
systems becomes crucial. Today, we will speak
about the innovative intersection of AI and
data engineering that is setting new standards in fraud management.
So, limitation of traditional fraud reduction systems
traditional fraud reduction systems are often constrained by
inadequate reduction rate of
percentage coupled with high false positive rates
of approximately 30 percentage. These limitations
not only strain resources, but also compromise customer
trust and financial integrity. So data
engineering plays a crucial role in enhancing AI capabilities
and enabling the development of sophisticated data
pipelines. So these pipelines facilitate the real
time processing and analysis of vast transactional data
sets, achieving unprecedented processing
speeds and accuracy beyond conventional methods.
And although advanced feature engineering,
we effectively reduce data dimensionality and
transform it into a more refined format.
This process significantly improves
the quality of input data of
our A models, resulting in enhanced reduction
accuracy that reaches up to 90%.
So improvement in a model accuracy.
Our optimized AI models demonstrate significant
advancements, resulting false positives by up to
25 percentage while maintaining high deduction sensitivities.
These enhancements ensure more reliable
and efficient fraud reduction systems.
Model interpret interpretability and scalability.
So this is very important for any A models, but in
financial it is more crucial. So a models need to be
interpretable and scalable, particularly in dynamic banking
environments because of the security and the high level
data is coming from the systems. So these qualities
ensure that our system are transparent to regulatory
bodies and adaptable to ever growing data volumes.
So this is the main thing. So leading financial institutions
have seen remarkable success with the integration
of our AI driven systems. Case studies
reveals reductions in fraud
occurrences by 40 percentage and substantial
improvement in operation efficiencies. So this is the case
study which follows very fact for customer trust.
So advanced fraud deduction systems are
pivotal in enhancing customer trust by
securing the financial environment with AI,
we provide customers with accuracy that their
assets are protected against increasingly sophisticated
threats. As I mentioned earlier. So all the data
sets which coming in investment banking side is more crucial,
so, so that we want to prevent
the data. So using AI techniques. So this
is the most crucial thing that we can do,
comprehensive guide and implementation.
So our discussion today serves as a comprehensive guide for
banking entities eager to implement cutting edge
AI and data engineering techniques in their fraud direction
systems. We have outlined essential strategies and
implementation considerations,
so here is our conclusion on future outlook. In conclusion,
the integration of AI into banking security is
not just a trend, but a necessity in today's
digital age. Looking forward, the continued
evaluation of AI techniques promises even more
sophisticated and effective tools to combat financial
fraud. So thank you so much for
this opportunity. Hope you enjoyed my conversation.
Thank you. Have a great day.