Interconnected Machines

Payment Industry Trends in 2017: Using Machine Learning to Fight Fraud

Fraud is increasingly becoming a problem in the online world as online shopping has become more and more popular. But fortunately, as more and more internet criminals are making fraudulent purchases and costing companies money, more and more advances are being made in the technology used to fight this epidemic. Technological advances in the area of machine learning are helping to stop these fraudulent charges before they start. This can be a powerful risk management tool for business owners as they look for ways to protect themselves and their livelihood. However to many, the topic of machine learning remains a mystery and many may not realize the potential benefits of this technology. With this in mind, let’s take a look at the subject of machine learning: what it is, how it works, and the potential it has for protecting businesses against payment fraud. Machine Learning: What it is and How it…

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The Cost of a Breach

The Cost of a Breach

As our businesses grow we are increasingly relying on collecting customer data and storing it for future use. Even if you aren’t planning on it, more data is collected today at the register than ever before. Storing more data can cause more problems such as making us look tastier to hackers across the globe. Data breaches are more commonplace and harder to spot than we think. According to IBM’s 2015 Global Study, the total increase in data breaches across the companies participating in a survey has risen to around 23% and that’s just the companies that chose to participate! Our data is extremely important to us and we unwillingly give it away on a day to day basis. Growing companies sometimes get away from the fact that software will sometimes require complete refactoring when technology gets old. The cost of updating and redesigning software can be expensive but with the cost…

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