Cutting Edge Guards You From Credit Card Fraud
Picture a sophisticated, high-tech computer with human-like capacity to think by itself, learn on its own, and predict the future by processing patterns without the help of a computer programmer. Does this sound a little like the latest big-screen science-fiction action movie? You might be surprised to learn it's not science fiction.
It's called neural network computing technology, and it's being used to increase protection from credit card fraud for cardholders. It can detect, for example, when purchase patterns by someone who's stolen your card differ from your own, and can alert the card issuer to step in.
Neural network technology can also be used in many other ways. Currently, it is being used worldwide for uses including predicting stock market behavior, determining the best job for a job candidate, and monitoring the operation mechanical devices.
Neural computing systems use information about you as a cardholder, the merchants from which you purchase, and geographical data to provide a comprehensive fraud protection model. Without a programmer to provide instructions, neural network computing systems look at events that happen repeatedly and provide solutions to problems.
MasterCard and Visa use these systems by integrating the neural network with systems already in place to detect credit card fraud, heightening their fraud detection effectiveness.
If you don't already hold a credit card from Bear Paw Credit Union, contact us today.
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