Iguazio Deployed to Prevent Fraud with Real-time Machine Learning

Iguazio, the data science platform for real time machine learning applications, has announced that Payoneer, the digital payment platform empowering businesses around the world to grow globally, has selected Iguazio´s platform to provide its 4 million customers with a safer payment experience, the company said.

By deploying Iguazio, Payoneer moved from a reactive fraud detection method to proactive prevention with real-time machine learning and predictive analytics.

Payoneer overcomes the challenge of detecting fraud within complex networks with sophisticated algorithms tracking multiple parameters, including account creation times and name changes. However, prior to using Iguazio, fraud was detected retroactively, enabling customers to only block users after damage had already been done.

Payoneer is now able to take the same sophisticated machine learning models built offline and serve them in real-time against fresh data. This ensures immediate prevention of fraud and money laundering with predictive machine learning models identifying suspicious patterns continuously. The cooperation was facilitated by Belocal, a Data and IT solution integrator for mid and enterprise companies.

Iguazio´s Data Science Platform enables Payoneer to bring its most intelligent data science strategies to life. Designed to provide a simple cloud experience deployed anywhere, it includes a low latency serverless framework, a real-time multi-model data engine and a modern Python eco-system running over Kubernetes.

The Iguazio Data Science Platform enables enterprises to develop, deploy and manage AI applications at scale. With Iguazio, companies can run AI models in real time, deploy them anywhere; multi-cloud, on-prem or edge, and bring to life their most ambitious data-driven strategies. Find out more on www.iguazio.com

Since its inception in 2006, Belocal has experienced consistent and sustainable growth by developing strong long-term relationships with its technology partners and by providing tremendous value to its clients.