Mellifera launches AI fraud detection platform

St. Julian’s, Malta, May 30th, 2024, FinanceWire

Mellifera unveils advanced AI fraud detection platform to safeguard fintech transactions.

Mellifera proudly introduces its AI fraud detection platform, leveraging the latest advancements in artificial intelligence (AI) and machine learning (ML) to upscale fraud prevention. The platform offers precision in real-time fraud detection by analysing complex data patterns and user behaviours, surpassing the limitations of traditional methods.

This innovation comes in response to the heightened risks posed by sophisticated fraud tactics that have emerged with the industry’s expansion. Traditional rule-based fraud detection systems often struggle to keep pace, frequently resulting in high rates of false positives and numerous missed fraudulent activities. Mellifera’s AI-driven approach identifies and adapts to evolving threats, ensuring comprehensive and proactive security.

“Our AI-driven compliance platform is at the heart of what we do, representing our commitment to innovation and security in the financial sector,” says Artjoms Grivkovs, Founder of Mellifera. “By harnessing the power of AI, we are not only tackling the issue of fraud head-on but also setting new standards for what is possible in financial technology.”

Mellifera’s AI Fraud Detection Platform transforms fintech security by employing advanced machine learning algorithms and behavioural analytics. This approach allows for the dynamic identification of fraudulent transactions by continuously learning and adapting to new fraud tactics. Unlike static rule-based systems, Mellifera’s solution evolves, ensuring sustained protection against the latest fraudulent strategies.

The system integrates with external data sources, including geolocation services, public records, and financial watchlists, to enrich the context of transactions. This integration helps create a comprehensive view of potential risks, significantly enhancing fraud detection accuracy.

About Mellifera

Mellifera, St. Julians, Malta, is a tech innovator specialising in IT solutions for the financial sector. Focusing on payment processing, anti-fraud technologies, and core banking support, Mellifera is dedicated to enhancing business efficiency, security, and growth through cutting-edge technology and expert insights. Operating in the fintech market Mellifera is navigating the digital transformation of financial services.

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