Fraud AI: An effective and interpretable solution for fraud detection

A case study of a highly effective fraud detection solution for a major fintech institution. The technical challenges involved have included a requirement to cover a high volume of transactions (millions per day, up to 150 per second) at a very low latency in order to enable the client to use the solution for fraud prevention in real time at the time of transaction. Implementing this solution required pre-computing a large number of interpretable features based on previous transactions of the client accounts and merchants involved in the transaction.