Download - Transfer Wise Data Talk 2
![Page 1: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/1.jpg)
FIGHTING FRAUD WITH GOOD CUSTOMERS IN MIND
![Page 2: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/2.jpg)
LAUR
+
![Page 3: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/3.jpg)
![Page 4: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/4.jpg)
MAKING THE FINANCIAL SYSTEM FAIR AND TRANSPARENT
![Page 5: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/5.jpg)
€700 MILLION IN TRANSFERS PER MONTH
![Page 6: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/6.jpg)
€30 MILLION OF CUSTOMERS MONEY SAVED EVERY MONTH
![Page 7: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/7.jpg)
TRUSTED ALL OVER THE WORLD
CAN SEND MONEY FROM
![Page 8: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/8.jpg)
TRUSTED ALL OVER THE WORLD
CAN SEND MONEY TO
![Page 9: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/9.jpg)
FRAUD 101
![Page 10: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/10.jpg)
![Page 11: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/11.jpg)
![Page 12: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/12.jpg)
![Page 13: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/13.jpg)
CHARGEBACK =
![Page 14: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/14.jpg)
PRICE
![Page 15: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/15.jpg)
WHAT TO DO ABOUT IT?
![Page 16: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/16.jpg)
FRAUD AGENTS>>>
MANUAL REVIEW
![Page 17: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/17.jpg)
TEAM
![Page 18: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/18.jpg)
FRAUD ENGINE
STATIC RULES
SCO
RING
![Page 19: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/19.jpg)
RULES
80+ YEARS OLD
+10“FUN”
![Page 20: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/20.jpg)
FRAUD ENGINE
STATIC RULES
SCO
RING
MANUAL REVIEW
![Page 21: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/21.jpg)
![Page 22: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/22.jpg)
![Page 23: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/23.jpg)
RULE BASED SYSTEM- Become outdated
- New rule for each pattern
![Page 24: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/24.jpg)
PRICE
![Page 25: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/25.jpg)
PRICE SPEED
![Page 26: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/26.jpg)
PRICE SPEED
CONVENIENCE
![Page 27: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/27.jpg)
PRICE SPEED
CONVENIENCE COVERAGE
![Page 28: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/28.jpg)
TEAM
![Page 29: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/29.jpg)
FRAUD ENGINE
STATIC RULES
SCO
RING
DYNAMIC RULES
![Page 30: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/30.jpg)
FEATURE 1 FEATURE 2 FEATURE 3DYNAMIC RULE MODEL
![Page 31: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/31.jpg)
SOURCE CURRENCY AMOUNT TIER £ NUMBER IN EMAIL?DYNAMIC RULE MODEL
FEATURE 1 FEATURE 2 FEATURE 3
![Page 32: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/32.jpg)
SOURCE CURRENCY AMOUNT TIER £ NUMBER IN EMAIL?
USD 100-200 Yes
EUR 1000-1100 Yes
GBP 500-600 No
…
DYNAMIC RULE MODEL
DYNAMIC RULE 1
DYNAMIC RULE 2
DYNAMIC RULE N
FEATURE 1 FEATURE 2 FEATURE 3
![Page 33: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/33.jpg)
SOURCE CURRENCY AMOUNT TIER £ NUMBER IN EMAIL?
USD 100-200 Yes
EUR 1000-1100 Yes
GBP 500-600 No
…
DYNAMIC RULE MODEL
DYNAMIC RULE 1
DYNAMIC RULE 2
DYNAMIC RULE N
FEATURE 1 FEATURE 2 FEATURE 3
30%
70%
76%
![Page 34: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/34.jpg)
SOURCE CURRENCY AMOUNT TIER £ NUMBER IN EMAIL?
USD 100-200 Yes
EUR 1000-1100 Yes
GBP 500-600 No
…
THRESHOLD: 65%
DYNAMIC RULE 1
DYNAMIC RULE 2
DYNAMIC RULE N
FEATURE 1 FEATURE 2 FEATURE 3
30%
70%
76%
DYNAMIC RULE MODEL
![Page 35: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/35.jpg)
SOURCE CURRENCY AMOUNT TIER £ NUMBER IN EMAIL?
USD 100-200 Yes
EUR 1000-1100 Yes
GBP 500-600 No
…
THRESHOLD: 65%
DYNAMIC RULE 1
DYNAMIC RULE 2
DYNAMIC RULE N
FEATURE 1 FEATURE 2 FEATURE 3
30%
70% ADD +10
76% ADD +10
DYNAMIC RULE MODEL
![Page 36: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/36.jpg)
PRICE SPEED
CONVENIENCE COVERAGE
![Page 37: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/37.jpg)
![Page 38: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/38.jpg)
FRAUD ENGINE
STATIC RULES
SCO
RING
DYNAMIC RULES
MANUALLY DEFINED:- SCORES- THRESHOLDS
![Page 39: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/39.jpg)
FRAUD ENGINE
STATIC RULES
SCO
RING
DYNAMIC RULES
MANUALLY DEFINED:- SCORES- THRESHOLDS
NEW RULE MODEL FOR NEW PATTERN
![Page 40: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/40.jpg)
TEAM
![Page 41: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/41.jpg)
MACHINE LEARNING
![Page 42: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/42.jpg)
MACHINE LEARNING
BLACK BOX Machine learning algorithm
RU
LES
OU
TPU
T
FRAUD SCORE 0..100
PARAMETERS Θ .
..
![Page 43: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/43.jpg)
Act
IteratePredict
![Page 44: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/44.jpg)
Act
IteratePredictTRAINING
ENGINE AGENT
![Page 45: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/45.jpg)
Act
IteratePredictGOOD
/
BADPARAMETERS Θ
FRAUD SCORE
TRAINING
ENGINE AGENT
![Page 46: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/46.jpg)
STATIC RULES
MAC
HIN
E LEARNIN
G
DYNAMIC RULES
FRAUD SCORE 0..100
![Page 47: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/47.jpg)
FRAUD SCORE 0..100
![Page 48: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/48.jpg)
0%
25%
50%
75%
100%
FPR – % of customers stopped for manual review
0% 25% 50% 75% 100%* ILLUSTRATIVE
![Page 49: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/49.jpg)
0%
25%
50%
75%
100%
FPR – % of customers stopped for manual review
0% 25% 50% 75% 100%* ILLUSTRATIVE
![Page 50: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/50.jpg)
RISK MANAGEMENT
* ILLUSTRATIVE
![Page 51: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/51.jpg)
PRICE SPEED
CONVENIENCE COVERAGE
![Page 52: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/52.jpg)
JASON TAN“NOT A RACE BETWEEN ALGORITHMS”
![Page 53: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/53.jpg)
BLACK BOX Machine learning algorithm
TRA
NSA
CTI
ON
DAT
A
FRAUD SCORE 0..100
PARAMETERS
![Page 54: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/54.jpg)
SCALE DATA
FEATURE ENGINEERING• Number in email • Name in email • Device fingerprinting • Geo-location mismatch
• …
![Page 55: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/55.jpg)
OUR CHALLENGE
![Page 56: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/56.jpg)
80 - 20
![Page 57: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/57.jpg)
![Page 58: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/58.jpg)
THANKS! Q?
![Page 59: Transfer Wise Data Talk 2](https://reader035.vdocuments.us/reader035/viewer/2022062503/587311d91a28ab99088b8033/html5/thumbnails/59.jpg)