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Wrangling Big Data to Detect Fraud

Wrangling Big Data to Detect Fraud

Organizations scramble to leverage big data to gain business insight for more accurate & efficient marketing, sales, operational activities and more. But many also now apply these tools to discover anomalous behavior and expose fraudulent activity. Join our expert panel from Zions Bancorp and LexisNexis for new insights on:

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  • How to get one's hands around an enterprise's structured and unstructured data;
  • Fraud types that can be detected by leveraging this data;
  • Tips and tricks to wrangling big data right.

Background

Understanding big data is not the main challenge for many organizations. They've been working for years to mine, analyze and protect all the data they collect and store. Many even use big data to enhance their information security posture.

But learning how to use the information contained within big data to detect and prevent fraud - that's the real trick, particularly for financial institutions.

At Zions Bancorp, a $55.5 billion institution based in Salt Lake City, leaders have learned how to leverage big data to bridge cross-channel gaps and provide foresight to address fraud trends. For Zions, letting go of data biases and outdated analytical patterns greatly improved big data interpretations, which in turn improved cross-channel collaboration and fraud detection.

Still, many organizations struggle with just how to put that big data foresight to use. In this session, Michael Fowkes, who heads up the security analytics department for Zions Bancorp, offers insight on how to create the appropriate mix of expertise, experience and solutions to make meaningful sense of big data for fraud detection and prevention.

He is joined by a data scientist, Jo Prichard, a thought-leader from LexisNexis, who will offer insight on big data and the role supercomputing technology has in data analysis manipulation, including:

  • How fraud detection efforts can be aided by big data analysis;
  • The new problem-solving paradigm created by big data technology;
  • Domain insights, context and its importance to big data analysis.

LexisNexis will also discuss recent fraud activities, including combating identity theft and synthetic ID fraud in scale, where supercomputing, big data and analysis were used to detect activities that traditional analytics fail to detect.

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