Let’s look at recent trends in new products and how their offering might leave buyers disappointed after the novelty of AI wears off.
Check Baking – Checkwashing Goes Digital in This New Check Fraud Scheme
What happens when you mix checkwashing fraud with the image-deposit rules from Check21? You get check baking, also known as check cooking. Gone are the days of chemical alterations and one-off deposits. The scam goes completely digital.
The Evolving Trends of Check Fraud: What the Financial Industry Experienced in 2023
2023 proved to be a challenging year for the banking industry as it witnessed a surge in fraudulent activities. New schemes emerged, while older and enduring challenges continued. Let’s delve into the impacts of check fraud and forgery schemes. In their 2023 Fraud and Financial Crimes Report, Kroll, an advisory firm focused on risk, governance, […]
Demand for Easy Access to Document Data Continues to Climb
Data extraction software has increased in popularity over the past few years, helping companies become more efficient with their daily activities. Some industries use data extraction software when validating and verifying data while others use it to simplify complex processes. No matter the end goal, data extraction software can prevent the big mistakes that manual […]
Losing Weight Without Spending 4 Hours at the Gym
e·qui·lib·ri·um /ˌēkwəˈlibrēəm,ˌekwəˈlibrēəm/ noun: equilibrium; plural noun: equilibria a state in which opposing forces or influences are balanced. The key to losing weight is to focus on inputs and outputs. If you are eating more calories than you are burning, you gain weight. If you are at a state of equilibrium, you maintain your current weight, […]
The 10,000-Hour Rule & IDP
In Malcolm Gladwell’s book “Outliers”, he popularizes the concept that to be great at anything requires at least 10,000 hours of practice. He argues, citing various studies, that the more research conducted into acknowledged high-performing individuals across many fields, the less innate talent mattered and the more critical was a near-ritualistic devotion to preparation and […]
When Revenue Cycle Management Goes Rogue
An interesting story of advanced analytics used not to fight fraud, but potentially to enable it, was highlighted when the Justice Department filed a civil complaint of fraud last week against both a health plan and its technology services provider. At the core of this complaint is the accusation that the technology services provider used […]
Are You Ready for Intelligent Document Processing? | Part 2: The Rise of Machine Learning
How can IDP software simultaneously push through both the complexity barrier and expand to more complex documents? Machine Learning, that’s how. Now, I won’t ever make the claim that machine learning is a magical silver bullet, but when it comes to the chore of crunching large amounts of data to identify patterns and optimal solutions, […]
Are You Ready for Intelligent Document Processing? | Part 1
Don’t call it “OCR” anymore. Intelligent Document Processing (IDP) or what analyst firm Deep Analysis calls “cognitive capture” is something well beyond the traditional approach of applying brute force OCR on documents in order to create searchable content. In fact, increasing OCR is not needed at all with more and more documents born digital. All […]
Catch Me If You Can – How AI Fraud Detection Software Transformed the Check Fraud Investigator’s Job
Catch Me If You Can – Today, AI-powered software can mimic human investigators, detect check fraud in milliseconds and stop the scam.
Fraud and Human Error Impact Health Insurers
Find out how cognitive capture can help eliminate the heavy toll of fraud and human error that impacts health insurers and patients.
Cognitive Capture: Is that training data any good? | Applied AI
The need for a data science approach where machine learning is applied to cognitive capture starts with high quality input data. Find out why.