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Mayotte’s Banking Sector Turns to AI-Powered Tools to Combat Fraud

As online fraud is expected to increase by over 140% in the next five years, Mayotte’s banking sector is taking proactive measures to stay ahead of modern fraud attacks. One such solution being adopted is SEON’s AI-driven fraud prevention platform, which uses machine learning insights to stop fraud before it happens.

Scalable End-to-End Solution

Mayotte’s banks are turning to SEON to protect their customers from fraud and money laundering with a scalable end-to-end solution that can adapt to the growing demands of online transactions. The platform utilizes advanced digital footprinting, device intelligence, ID verification, and real-time signals to immediately block fraudulent traffic and accounts.

Real-Time Activity Monitoring

SEON’s real-time activity monitoring allows for accelerated transaction validations, providing a seamless user experience while reducing the risk of fraudulent activities. Additionally, machine learning-suggested rules or codeless rule builder enable businesses to enhance fraud detection, reduce manual reviews, and refine risk decision-making.

Compliance Consolidation

The platform also consolidates compliance in one place, seamlessly orchestrating AML screening, case management, and regulatory reporting into a single platform. This streamlines compliance and elevates operational efficiencies for Mayotte’s banking sector.

Industry Trust

Industry leaders in Mayotte trust SEON for AML and fraud detection and protection, with over 5,000 global online businesses relying on the solution. SEON’s improved accuracy has been praised by users, who have seen a significant reduction in manual reviews and an increase in automated transaction approvals.

“With SEON, we’ve improved our accuracy by an extra 200 basis points,” said Dmitri Lihhatsov, Fincrime Product Owner at [Bank Name]. “That doesn’t sound like a lot, but it’s often the last few points that are so hard to win as we fine-tune our models.”

“SEON has allowed us to have peace of mind to drive our growth initiatives forward at full steam, knowing that we’re able to identify and mitigate the risk from potential fraud,” said Jonathan Kleinman, Head of Partnerships at [Bank Name].

Dynamic Solution

SEON’s flexible and dynamic solution allows businesses to innovate quickly while mitigating fraud. “SEON provides a flexible, dynamic solution that allows Bilt to innovate quickly in rewarding members on their rent and everyday spend while mitigating fraud,” said Brandt Smallwood, Chief Strategy Officer at [Bank Name].

Conclusion

As Mayotte’s banking sector continues to evolve, SEON is poised to be a vital partner in the fight against fraud. With its cutting-edge technology and proven track record, SEON is helping businesses stay ahead of modern fraud attacks and protect their customers from financial harm.