The iGaming industry is able to mitigate fraudulent payments with the help of artificial intelligence
As eCommerce and digital shopping become more prevalent, there is a need to offer better payment protection in the digital space. Online casinos are well aware of the urgency of ensuring proper safeguards, both for the benefit of legitimate users and the prevention of fraud. Artificial intelligence (AI) is being used to protect iGaming operators’ payments solutions better, improving security and enhancing the platforms, while allowing the entire industry to function on an entirely improved level.
Online casino operators are significantly ramping up their fraud prevention controls through advanced analytics at the payment processor level. AI is able to spot suspicious transactions at the point of customer spend and, by working with payment processors that can deliver data-driven insight at the point of transaction, operators are able to rapidly detect unusual behavior that falls outside of expected customer activity profiles. This allows them to develop even more effective fraud defenses over time, making it increasingly more difficult for scams and frauds to occur.
iGaming operators use AI to interpret and analyze trends, as well as point-of-spend data, to detect fraud on their platforms in real-time. Equally as important, analytics-driven processors can arm the operators with the tools to improve customer experience. This is a critical component for them to remain competitive in an increasingly diverse gaming environment. Equipped with AI that is embedded into their payment channels, iGaming operators can better offer personalized products to their users at the point of spend, as well.