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1 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Using Analytics and Fraud Management To Increase...
2 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
• 25+ years of experience
• General Manager and ...
3 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
AD TECH ECOMMERCE FINANCIAL HI-TECH/SW TELECOM/C...
4 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Powering Real-time Extreme Scale Data Solutions ...
5 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Business Perspective of Fraud
How Fraud is Analy...
6 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Business
Perspectives
of Fraud
7 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Fraud is Top of Mind
“Imperfections of authentic...
8 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Fraud is Top of Mind
9 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Fraud ‘Fun’ Facts
Payment fraud losses have more...
10 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Fraud ‘Fun’ Facts
Credit card fraud has histori...
11 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Fraud ‘Fun’ Facts
Government documents and bene...
12 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Business Perspective
of Fraud
Cost to the Busin...
13 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Use Fraud / Risk Analytics to Your Advantage
14 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Types of Fraud
Are you who you say you are?
Ide...
15 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Business Perspective
of Fraud
16 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
MasterCard reported 54% decrease in fraud costs...
17 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
How Fraud
is Analyzed
18 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Evolution of Fraud / Risk Systems
Explainable A...
19 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Evolution of Fraud / Risk Systems
Businesses us...
20 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Customer
Case Studies
21 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Powering Global Fraud Prevention
Network
✓$280B...
22 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
30x Improvement in SLA
*Note: @ $300 Million Pa...
23 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Helping Financial Services prevent fraud
✓130M ...
24 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Reduced false positives / negatives
✓One common...
25 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Replaced HBase, beat out Couchbase &
Redis Labs...
26 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Fraud Data
Layer
Architecture
27 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Large Data Sets (Terabytes, Petabytes)
1
Real T...
28 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Aerospike powers the AI/ML Training Data Pipeli...
29 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Edge Systems
across Datacenters
API
Aerospike i...
30 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
Case Study
PayPal Puts Data at the Heart of its...
31 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc.
3
1
Questions?
www.aerospike.com/fsi/
Stuart Ta...
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Slides: Using Analytics and Fraud Management To Increase Revenues and Differentiate Yourself From the Competition

Fraud has many costs to a business, not only in terms of real dollars lost, but also in draining company resources investigating and prosecuting fraud and in reputational damage. For these reasons alone, companies should put systems and processes in place to combat fraud.

However, there are other extremely compelling strategic reasons why companies should implement fraud solutions which can help them gain competitive advantage, grow market share, increase profits, develop differentiated products, and implement more targeted and advantageous customer pricing.

This webinar will review the multiple business benefits for analyzing and combating fraud and the different approaches and best practices to analyzing data for fraud prevention. We will also review several real-life case studies where companies have used fraud analytics to win in the marketplace. Lastly, we will review different technology architectures to enable optimal fraud analytics and prevention.

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Slides: Using Analytics and Fraud Management To Increase Revenues and Differentiate Yourself From the Competition

  1. 1. 1 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Using Analytics and Fraud Management To Increase Revenues and Differentiate Yourself From the Competition Stuart Tarmy Global Director, Financial Services Industry Solutions Financial Services Aerospike starmy@aerospike.com
  2. 2. 2 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. • 25+ years of experience • General Manager and head of sales, marketing and product management • Leading global financial service technology, ecommerce, payments, AI/ML, and data management (Big Data) companies. • Executive roles with Fiserv, MasterCard, Bankers Trust and McKinsey & Company. • Early career as a design engineer at Texas Instruments developing AI/ML-based computing systems. Stuart Tarmy Professional Background
  3. 3. 3 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. AD TECH ECOMMERCE FINANCIAL HI-TECH/SW TELECOM/CSP Powering Industry-Leading Innovation Around the World GAMING HEALTHCARE
  4. 4. 4 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Powering Real-time Extreme Scale Data Solutions for Financial Services Payment Fraud Prevention AI for Credit Card Fraud Detection Pre-Trade Risk Reduction Real-Time Digital Payments Real-Time Checking Digital Identity Security
  5. 5. 5 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Business Perspective of Fraud How Fraud is Analyzed Today Case Studies Fraud Layer Architecture 1. 2. 4. 3. AGENDA
  6. 6. 6 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Business Perspectives of Fraud
  7. 7. 7 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Fraud is Top of Mind “Imperfections of authentication across multiple touchpoints is having a seriously adverse effect on the customer experience.” CHIEF DIGITAL OFFICER, AMERICAN BANKER “We live in a time when protecting customers’ assets and personal information with minimal interruption is paramount to our success.” HEAD OF US FRAUD, AMERICAN BANKER “The first thing is that identity verification, in its simplest form, is friction to the customer. The customer doesn't come to the bank or even a channel or another institution to login. They come in to perform a specific task that they need to get done. Our job as security professionals is to make that as easy and frictionless as possible. VP OF FRAUD & AUTHENTICATION, LEXISNEXUS-THREATMETRIXS 5. “Business wire fraud up 36% due to Covid.” TREASURY MANAGEMENT “Whenever this is a domestic or global emergency, the fraudsters come out.” HEAD OF FRAUD RISK MGMT, AMERICAN BANKER 2. 3. 1. 4.
  8. 8. 8 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Fraud is Top of Mind
  9. 9. 9 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Fraud ‘Fun’ Facts Payment fraud losses have more than tripled since 2011 and are expected to exceed $40 Billion by 2027
  10. 10. 10 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Fraud ‘Fun’ Facts Credit card fraud has historically been the greatest source of fraud.
  11. 11. 11 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Fraud ‘Fun’ Facts Government documents and benefits fraud jumped 3,883% between Q1 and Q4 2020
  12. 12. 12 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Business Perspective of Fraud Cost to the Business Losses Chargebacks Interchange fees Investigation costs Reconciliation False Positives False Negatives Strategic Growth Driver 1 2 Better analyze Fraud/Risk profile to better personalize customer offerings Significant opportunities to meet strategic objectives Revenue growth Increase profitability Improve customer satisfaction Reduce customer churn Differentiate your business
  13. 13. 13 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Use Fraud / Risk Analytics to Your Advantage
  14. 14. 14 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Types of Fraud Are you who you say you are? Identify Fraud Are you going to do bad things? 1 2 Theft Default Bankruptcy
  15. 15. 15 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Business Perspective of Fraud
  16. 16. 16 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. MasterCard reported 54% decrease in fraud costs in first year as retailers adopted EMV acceptance Credit card fraud has changed because of EMV smart cards 1 Card not Present Identity Theft Fraudsters caught on; fraud moved to easier channels 2 Fraudsters are Getting Smarter EMV Chip Magnetic
  17. 17. 17 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. How Fraud is Analyzed
  18. 18. 18 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Evolution of Fraud / Risk Systems Explainable AI Supervised Learning Unsupervised Learning
  19. 19. 19 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Evolution of Fraud / Risk Systems Businesses using a hybrid supervised/unsupervised ML + business rule logic for business analytics 45% 0 100 50 58% 75 25 58% 56% 54% 52% 46% 42% 42% 40% 40% 34% 22% % Global US China Indonesia India Australia 48% Brazil Spain Netherlands France UK Japan Columbia Germany/ Austria
  20. 20. 20 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Customer Case Studies
  21. 21. 21 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Powering Global Fraud Prevention Network ✓$280B+ payments annually Replaced Oracle + Terracota ✓Reduced server footprint 15x Improved SLAs ✓30x reduction in false positives Increased revenue ✓10x improvement in fraud calculation data used “PayPal is innovating deep analytics to rapidly respond to emerging fraud patterns, then deploying into an event-driven, fast data, in-memory architecture to accelerate detection, reduce losses and achieve near-continuous availability.” Lead Data Architect, Risk and Compliance Management Platform, PayPal Account Behavior Static Data Account Statistics Real-time Fraud Prevention for Digital Payments USE CASE: M I K H A I L K O U R J A N S K I , P H D . Fraud Detection & Protection App Credit Card Processing System
  22. 22. 22 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. 30x Improvement in SLA *Note: @ $300 Million Payments a Day In-Memory SLA: $5 Million at Risk* $0.17 Million at Risk* Hybrid Memory SLA: I N M E M O R Y V S . H Y B R I D M E M O R Y — S L A I N A C T U A L D E P L O Y M E N T
  23. 23. 23 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Helping Financial Services prevent fraud ✓130M transactions daily across 40,000 websites ✓100’s of attributes delivered in < 100ms Replaced Cassandra ✓3x server reduction: 96 now 28 ✓3x latency improvement: 100ms now 30ms Scaling Growth ✓450TB growing to 1.3PB Savings ✓$3.3M over 3 years “We are simply in a latency game and they are the best in the latency game.. Aerospike does what it says. Aerospike just works.” SLA: Aerospike vs. Cassandra Securing Global Digital Identities at Scale USE CASE: M AT T H I A S B A U M H O F CTO, ThreatMetrix
  24. 24. 24 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Reduced false positives / negatives ✓One common system across platforms ✓Increased data consistency ✓Improved user profile data ✓Eliminated latency issues ✓Able to store/process volume of data needed Built for growth ✓6x growth over 3 years Reduced TCO ✓Single system to update/change/manage Machine Learning for Credit Card Fraud Detection USE CASE: “With Aerospike, we were able to dramatically reduce stand-in processing (STIP), data consistency issues, and reduce false positives and false negatives for future transactions.” Vice President, Enterprise Fraud Architect, Barclays D H E E R A J M U D G I L Machine Learning Rules Engine Fraud Detection & Protection App Credit Card Processing System ATM System Account Behavior Static Data Account Statistics Store Location Merchant Spending Habits Terminal Transaction History Transaction Data Spending Habits Historical Data
  25. 25. 25 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Replaced HBase, beat out Couchbase & Redis Labs ✓ Tripled data set to 25TB while reducing node count 66% Better stability ✓ Updates and node management seamless ✓ No longer have to turn away new customers Meeting SLA 99.99% ✓ 10-20ms window to ensure charge for services “Before we were fighting fires more than 8 hours/day; even developers get pulled in. With Aerospike, we can sell more, charge more, and handle our anticipated workload.” Real-time Check Validation USE CASE:
  26. 26. 26 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Fraud Data Layer Architecture
  27. 27. 27 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Large Data Sets (Terabytes, Petabytes) 1 Real Time Processing (sub millisecond) 2 Multiple Data Sources – Often Distributed 3 Mission Critical – High Reliability 4 Affordable 5 Evolution of Fraud/Risk Systems: Needs ✓ Real-time decisioning on large, continuously updated datasets and process streams ✓ Processing of thousands of cascading database lookups ✓ Support for 100’s to 1,000’s of ML Algorithms ✓ Consistent availability - 24x7x365 ✓ Immediate identification of anomalies and false positives ✓ Low TCO and reduced complexity Database business requirements for fraud prevention:
  28. 28. 28 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Aerospike powers the AI/ML Training Data Pipeline Aerospike Database 1-n Edge + Core Data Data Preparation CONNECT for Spark Model Training Third Party Data Exploratory Data Analysis Parameter Tuning Data Scientist Model Validation MODEL SERVING Aerospike Database Enriched Data
  29. 29. 29 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Edge Systems across Datacenters API Aerospike in Highly Performant Production ML Inference Pipelines Aerospike Database…1 Aerospike Database…n API Data Preparation HTTP Model Serving Model Score / Inference Output Application Inference Label Aerospike Database Core System Streaming Source CONNECT for Kafka CONNECT for Kafka CONNECT for Spark Application Specialist CONNECT for Spark
  30. 30. 30 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. Case Study PayPal Puts Data at the Heart of its Fraud Strategy with Aerospike MORE > Video Credit Card Fraud: Why the Database Matters MORE > Replacing Cassandra: Digital Transformation at the World’s Largest Digital Identity Network MORE > ThreatMetrix: Testimonial Thank You
  31. 31. 31 Proprietary & Confidential | All rights reserved. © 2020 Aerospike Inc. 3 1 Questions? www.aerospike.com/fsi/ Stuart Tarmy Global Director, Industry Solutions, Financial Services Aerospike starmy@aerospike.com

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