The synergy of technologies, innovations, and DDDM approach in anti-fraud processes

Volodymyr Todurov, Chief Analytics Officer at PIN-UP Global, shared with SiGMA News about PIN-UP’s unique work experience in fraud prevention and integration of the data-driven decision-making model in this process.

Here are just a couple of powerful Volodymyr’s thoughts:

• We have employed machine learning primarily focusing on the extreme gradient boosting model, renowned for its efficacy with structured data. The crux of this approach lies in constructing an ensemble of models that iteratively refine each other, thereby bolstering the accuracy of the forecasts.

• AI facilitates the expansion of business volumes without a proportional increase in the risk-management team, streamlining daily operations by eliminating tedious routines and allowing delving deeper into the analysis of other processes.

• Each team, taking into account the direction of the business and the number of specialists, has its own secrets of increasing efficiency and intelligently solving complex problems. For us, this is definitely procedures automatization based on a DDDM approach, which allows us to think out of the box. We evaluate all workflows seeking optimization points.

• The main point regarding DDDM is the mindset. Senior managers must deny all arguments based on feelings, hopes, and “expertise”. I mean, this kind of approach should be used only for some exceptions when you have no data to calculate your decision. Or when the problem is not worth calculating efforts. Every time you want to make changes on your product ask the team about numbers.

You can read Volodymyr’s interview on the SiGMA News website.