Cybercriminals are outpacing traditional fraud detection methods, prompting a shift to AI-driven fraud detection in banking.
Banks are transitioning to proactive, real-time fraud detection to detect suspicious activity mid-transaction.
Fraudsters are adapting to traditional rule-based monitoring, necessitating a shift to AI-driven platforms for better fraud detection.
Implementing AI in fraud detection requires robust data engineering, advanced platform capabilities, and increased collaboration between banks, regulators, and government agencies.