The data set can then be split into training and testing data. After the data set has been created and split, a supervised or unsupervised learning model can be selected and also executed with a single click using the training data. Model selection will heavily depend on the goals that were set at the beginning of the project.
For example, supervised learning models can be used to predict whether or not a specific transaction is fraudulent. It uses past labeled data, either "fraud" or "not fraud", to predict the outcome of future transactions or claims. In this case, a tree was created and the selected path shows a number of transactions classified as fraudulent. This is the stage during which the trained supervised model is evaluated using the previously separated testing data.
These evaluations are also executed with one click. Predictions can be made using the test set and the quality of results can be seen through the use of simple ratios and advanced statistical measures based on numbers in the confusion matrix.
This step answers the question, "how did the predictions generated from my model perform based on the unseen data. Many machine learning projects fail because the trained models are never put into production. The seamless integration of the RiskShield ML learning environment allows the evaluated financial crime fighting models to be implemented into RiskShield's real-time decision engine.
Simultaneously, transaction data as well as investigation results are fed back into the machine learning environment. This data is used to create new models and further train existing models, in the end creating a smooth feedback loop. With supervised learning, the data we are providing to the machine for learning purposes has clear labels. For example, transaction data can be labeled either as fraudulent or legitimate based on feedback from customers and investigation results.
This information is passed on to the machine which is tasked with finding commonalities amongst the respective classifications so predictions can be made for future transactions as to which class the transaction belongs to: fraudulent or legitimate. This is very helpful in terms of pattern recognition, identification of new modus operandi as well as identifying the probability of a payment default.
Unsupervised learning is used when the input data does not have labeled responses. Instant access to important information through the resource center ensures that businesses are always up to date with laws that affect testing programs.
Being a cloud-based system, Real Shield works in real-time and ensures instant compliance audit. The monitoring system reviews the specifics of an order and checks compliance in real-time with federal and state laws and agency rulings. The system carries out an instant audit once the data is submitted and gives a green signal if the order is compliant.
A red alert initiates a notification prompting users of the results and providing them with a link to more details about the regulatory information. Just the same, it would be hard to pinpoint such a software solution even among popular software solutions. The sensible thing to do would be to list the different chief factors that need examination such as important features, price terms, technical skill capability of staff members, business size, etc.
Then, you must perform the research systematically. Read some of these Encompass Risk Shield review articles and explore each of the software products in your shortlist more closely. Such detailed product research ascertain you steer clear of mismatched applications and buy the one that includes all the benefits your business requires.
If you are interested in Encompass Risk Shield it may also be sensible to check out other subcategories of Compliance Management Software listed in our base of B2B software reviews. Every company has different wants and needs an application that can be customized for their size, type of employees and customers, and the particular industry they are in. For these reasons, no platform can provide perfect tools off-the-shelf. When you look for a software app, first be sure what you want it for.
Read some Encompass Risk Shield Compliance Management Software reviews and ask yourself do you want basic features or do you want sophisticated tools? Are there any industry-specific tools that you are searching for? Obtain the answers to these queries to help your search. There are plenty of elements that you need to consider and these include your budget, specific business wants, your organization size, integration needs etc. Take your time, try out a few free trials, and finally choose the app that presents all that you want to improve your firm efficiency and productivity.
The data is then presented in an easy to digest form showing how many people had positive and negative experience with Encompass Risk Shield. Information about Risk Shield integration with other systems is available from Encompass official support. Thank you for the time you take to leave a quick review of this software. Analyze, simulate, test and optimize the risk scoring by using production data while not interrupting the detection process.
Allow customers to fully control and understand the decision process of every risk assessment. Optimize your risk management and find new fraud schemes with online business intelligence and predictive analytics. Deliver a better-hit rate and a lower false-positive ratio through a multi-channel approach sharing relevant information across different channels.
Combine supervised learning technologies such as fuzzy logic and dynamic profiling to provide greater accuracy and cost efficiency. Unique hybrid approach combining machine learning and knowledge based models into a powerful detection solution.
Manage transaction process controls and trigger automated procedures for follow-up actions and workflow handling. Provide a convenient rule management solution to quickly react to new fraud attacks without IT coding, down-time or long implementation efforts. Easily upgrade to the growing needs, enabling a gradual deployment to an enterprise-wide fraud detection and prevention solution. With RiskShield, we offer a multi-channel platform that detects and manages suspicious activities, minimizing losses and optimizing efficiencies using advanced analytics, machine learning and intuitive rule management controls.
The updated RiskShield Machine Learning package provides everything needed for a smoothly functioning Hybrid Artificial Intelligence approach encompassing both knowledge-based and machine learning methods.
Our expert team of data scientists has a deep understanding of what it takes to develop and manage optimized decision models using machine learning. Contact us! An Enterprise Risk and Financial Crime Management Solution RiskShield is a world-class risk assessment, fraud prevention and AML compliance monitoring solution providing unprecedented response time to the constant changing modus operandi of financial criminals.
Contact Person. RiskShield Machine Learning Brochure. RiskShield for Telecommunications Brochure. RiskShield Business Intelligence Brochure. Features RiskShield RiskShield offers a flexible and highly configurable risk assessment and fraud prevention solution which monitors a variety of products and channels in banking, payments and cards processing services. Advanced analytics and Human intelligence based technology.
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