A number of top executives from the Banking and other major Spanish industries gathered on Tuesday evening at the famous Hotel Wellington in Madrid to gain valuable insights into Behavioral Biometrics and Advanced Analytics. This event, focusing exclusively on Fraud, was the first Arvato Financial Solutions lead event on this topic in Spain and will be one of many to come. The intention here is to foster an active community environment for professionals to exchange ideas, discuss current trends & best practices and learn about state-of-the-art technologies all geared towards Fraud Prevention. For those unable to attend I have provided an overview of the main presentations below:
Topic 1 – Behavioral Biometrics
The opening presentation from Alvaro Ladoux, AFS Sales Manager, set the scene of the event with a guided tour through some of the recent Fraud developments within the digital world. The presentation involved an innovative mix of real life examples and use-cases with professional live-show effects for a more impactful illustration. It is clear that Fraud is a growing concern for many of the participants at the event, not only reducing events of fraud but also maintaining a seamless experience for ‘good’ customers within an automated digital environment. Behavioral Biometrics was introduced as an effective way to combat this, whilst at the same time managing costs and conforming to regulatory requirements (such as GDPR).
Topic 2 – Guest Speaker (Edoardo Fiorentini)
The session continued with our guest speaker Edoardo, who provided some interesting insights on the ever-growing fraud threat. Coming from an experienced background in e-commerce (eBay), Edoardo highlighted how important it is for an effective fraud prevention strategy to involve all departments of a company. He was able to bring this to life using real-life examples of companies collapsing due to bad habits in fraud prevention. Lastly, he presented to the audience his brand new book “Risk of Fraud”.
Topic 3 – Advanced Analytics
Alvaro then closed off the event with a presentation on the role that Advanced Analytics can play in a sophisticated fraud prevention framework. It was seen that by incorporating Machine Learning (ML) based algorithms and tools such as Automated Feature Engineering (in conjunction with Behavioral Biometrics) it is possible to greatly enhance any Fraud Prevention system. Not only can the success rate of preventing fraud be increased but this can be done faster and at a lower cost.
We would like to thank everyone who came along to the event and made it such the success that it was. For those that could not make it, we look forward to seeing you next time! Stay tuned!
Would you like to learn more in the meantime? Reach out to Iris Greciano
Congreso Nacional de Crédito, 29th of November in Madrid (presentation)
emerce eFinancials, 29th of November in Amsterdam (presentation & booth)
AnalytiXChange, 14th of March 2019 in Frankfurt (German Speaking)
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