Category Archives: Data Science in Financials

Fraud Detection in Banking – Part 2

 Fraud detection in banking technologies enable merchants and banks to perform highly automated and sophisticated screenings of incoming transactions and flagging suspicious transactions. While none of the tools and technologies presented here can by itself eliminate fraud, each technique provides incremental value in terms of detection ability. As it will be discussed later, the best…
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Fraud Detection in Banking – Part1

Fraud Management Financial organizations around the globe lose approximately 5 percent of annual reve­nue to fraud, and while direct losses due to fraud are staggering in dollar amounts, the actual cost is much higher in terms of loss of productivity and loss of customer confidence (and possible attrition), not to mention losses due to fraud…
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Use and Abuse Of Big Data Analytics

As a practitioner I always hope that the benefits of helping my clients to improve their use of analytical technologies will be somehow passed to their customers. Most of the applications of analytics are geared in that direction. The whole idea of analytics is to enable you to serve your customers better than your competitor, so…
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Seven Deadly DATA Sins in A Garden Of Eden

When people think of the 7 Deadly Sins, they think of Adam and Eve, the apple and the snake. But, as with data, the landscape of those sins is constantly changing. What used to be a best practice is now a haunting memory of failed strategies. What works for one sample can prove disastrous for…
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