AI-based solutions are providing better protection for payments

Data is an essential asset for risk management in all industries, including iGaming. The huge amount of data generated today sometimes makes it difficult to analyze it in order to detect possible risks. Likewise, proper data management is essential to avoid different types of fraud in online casinos. Therefore, many operators take advantage of technological advances to put artificial intelligence (AI) to work in detecting risks related to payments.

The use of AI machine learning to manage risk is especially useful when handling and evaluating unstructured data, data that is not easily classified into categories. Given that 90% of the data generated today is unstructured, the application of cognitive intelligence can be a real boon for online casinos. iGaming operators using this type of technology could anticipate and proactively manage risks as a competitive advantage.

AI not only allows more data to be analyzed to detect fraudulent activity, but it is also capable of learning and generating standardized patterns that save a lot of effort when detecting similar fraud again. In other words, if the cognitive analysis identifies something as fraud, the machine learns and will automatically identify it next time. As cognitive fraud detection systems learn, they will be able to detect more complex frauds, an advantage with a great impact on risk management.

As a result, these systems also help detect fraudulent behavior within the organization itself. Thus, iGaming entities can also use automated systems to monitor their players, linking commercial information with other information about their behavior, such as email traffic or their calendar. The applications are multiple: monitoring risks generated by players, detecting cyber-attacks, etc.