COVID-19 PANDEMIC’S ECOMMERCE BOOM WILL PUSH FINANCIAL INSTITUTIONS TO USE MORE BIG DATA ANALYSIS TO FIGHT FRAUD
March 1st, 2021
The surge in ecommerce in the past year driven by the Covid-19 pandemic will push financial institutions and commercial traders to use more big data analysis, maybe utilising artificial intelligence (AI), to identify anomalous behaviour, say fraud analysts.
International payments company Worldpay (part of the FIS Group, based in Florida, USA, since 2019) valued global online spending at USD4.6 trillion last year, up 19% on the previous annual figures - the highest growth in the past five years. (1) This represented “two-to-three years of typical acceleration ...
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