Using artificial intelligence to stop financial fraud is allowing iGaming operators to reduce losses
Artificial intelligence (AI) can help businesses improve their operations on a number of levels and can also help them protect themselves better. SoftSwiss Managed Services recently announced that the service, which focuses on investigating suspicious activity at online casinos, has solved 75+ major complaints in the first three months. This period saw a total savings of $2.92 million.
These results demonstrate the effectiveness of the service that is designed to provide security in iGaming operations, such as payments, KYC procedures, gameplay or bonusing. SoftSwiss is able to help its partners save substantial financial resources due to continuous improvement of their anti-fraud checks.
According to SoftSwiss Anti-Fraud Service statistics, confiscations in 2021 totaled over $14 million. This is 40% more than the year before. The team also recently obtained ICA certification, which was another step in their quest to provide unwavering anti-fraud support.
SoftSwiss Anti-Fraud Team Lead Anastasia Vyshinskaya stated in a press release, “The results of our work demonstrate that we are focused on improving our services literally month by month. Therefore, we’re looking for new tools to provide the highest level of anti-fraud support. For instance, one of the novelties we’re working on with our R&D teams is introducing artificial intelligence into the team’s work processes in order to move away from manual checks. It will allow us to accelerate the processing of requests and the identification of suspicious activity.”
Anti-Fraud is one department in SOFTSWISS Managed Services. This multi-functional department covers all major B2C support services for online casinos and sports betting brands. The department, which is rapidly growing, includes Anti-Fraud, VIP Player Support 24/7, Player Retention, Player Reactivation and Content Management Services.